Answered step by step
Verified Expert Solution
Question
1 Approved Answer
000010001 More info Jan. 9, 2023 Purchased computer equipment at a cost of $13,000, signing a six-month, 8% note payable for that amount. Recorded
000010001 More info Jan. 9, 2023 Purchased computer equipment at a cost of $13,000, signing a six-month, 8% note payable for that amount. Recorded the week's sales of $62,000, 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, 8% note, plus interest, at maturity. Jan. 29, 2023 Feb. 5, 2023 Jul. 9, 2023 Aug. 31, 2023 Dec. 31, 2023 Dec. 31, 2023 Accrued warranty expense, which is estimated at 2% of sales of $601,000. Accrued interest on all outstanding notes payable. Feb. 28, 2024 Paid the six-month 9% note, plus interest, at maturity. Purchased merchandise inventory for $3,000, signing a six-month, 9% note payable. The company uses the perpetual inventory system. - X Print Done tt The following transactions of Brewton Pharmacies occurred during 2023 and 2024: (Click the icon to view the transactions.) Journalize the transactions in Brewton's general journal. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Jan. 9, 2023: Purchased computer equipment at a cost of $13,000, signing a six-month, 8% note payable for that amount Date Accounts Jan. 9 Computer Equipment Short-Term Notes Payable Debit Credit 13,000 13,000 Jan. 29, 2023: Recorded the week's sales of $62,000, three-fourths on credit and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold. Date Jan. 29 Cash Accounts Debit Credit Accounts Receivable
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started