Prepare journal entries for Sawyer Enterprises for each of the following accrual accounting adjustments on June 30.

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1. Sawyer Enterprises sells $$600$ of merchandise to Apollo Inc. with terms of cash due in 30 days.

2.Apollo Inc. prepays Sawyer Enterprises $$700$ for merchandise that will be delivered in 30 days.

3.Sawyer Enterprises purchases and receives inventory of $$400$ from its supplier Adamo Co.

The terms are cash due in 45 days.

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Financial & Managerial Accounting For Undergraduates

ISBN: 9781618533104

2nd Edition

Authors: Jason Wallace, James Nelson, Karen Christensen, Theodore Hobson, Scott L. Matthews

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Question Posted: May 19, 2024 02:00 AM

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Prepare journal entries for Sawyer Enterprises for each of the following accrual accounting adjustments on June 30.

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Financial & Managerial Accounting For Undergraduates

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