The following transactions of San Jose Pharmacies occurred during 2024 and 2025: Journalize the transactions in San
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The following transactions of San Jose Pharmacies occurred during 2024 and 2025:
Journalize the transactions in San Jose Pharmacies’ general journal. Explanations are not required. Round to the nearest dollar.
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2024 Jan. 9 29 Feb. 5 Jul. 9 Aug. 31 Dec. 31 31 2025 Feb. 28 Purchased computer equipment at a cost of $9,000, signing a six-month, 6% note payable for that amount. Recorded the week's sales of $64,000, three-fourths on credit and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold. Sent the last week's sales tax to the state. Paid the six-month, 6% note, plus interest, at maturity. Purchased merchandise inventory for $12,000, signing a six-month, 9% note payable. The company uses the perpetual inventory system. Accrued warranty expense, which is estimated at 2% of sales of $603,000. Accrued interest on all outstanding notes payable. Paid the six-month 9% note, plus interest, at maturity.
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Date January 1 2024 Account Cash Debit 8000 Account Common Stock Credit 8000 Date February 5 2024 Ac...View the full answer
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Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780137858651
8th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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