1 2 3 Wildhorse Corporation's balance sheet at December 31, 2024, is presented below. 4. Cash Accounts receivable Allowance for doubtful accounts Inventory Jan. 1 11 3 15 21 8 17 24 27 Wildhorse Corporation Balance Sheet December 31, 2024 Adjustment data: $13,240 20,600 During January 2025, the following transactions occurred. Wildhorse uses the perpetual inventory system. (770) 9,680 542,750 Accounts payable Common stock Retained earnings $8,520 19.100 31 Wildhorse paid other operating expenses, $3,450. 15,130 $42,750 Wildhorse accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $1,200 account. Wildhorse wrote off as uncollectible the accounts of Walter Corporation ($500) and Drake Company ($200). Wildhorse purchased $15,940 of inventory on account. Wildhorse sold for $23,900 on account inventory that cost $16,060. Wildhorse sold inventory that cost $720 to Jack Rice for $1,000. Rice charged this amount on his Visa First Bank card. The service fee charged Wildhorse by First Bank is 3%. Wildhorse collected $22,200 from customers on account. Wildse Wildkrse paid $15,710 on accounts payable. Wildhorse received payment in full ($200) from Drake Company on the account written off on January 3 Wildhorse purchased advertising supplies for $1,380 cash. Interest is recorded for the month on the note from January 1. Uncollectibles are expected to be 6% of the January 31, 2025, accounts receivable. A count of advertising supplies on January 31, 2025, reveals that $560 remains unused. The income tax rate is 30%. (Hint: Prepare the income statement up to Income Before Taxes and multiply by 30% to compute the amount, round to whole dollars.)

Widhorse Corporationis baiance sheet at December 312024 , is presented below. During January 2025 , the following transactions occurred Wildhorse uses the perpetual inventory system. Ian 1 Widhorse accepted a 4-month, BSnote from Bethemy Company in payment of Bethemy/s 51.200 account. 3 Widhorse wrote off as uncoliectible the accounts of Walter Corporation ( $500) and Drake Compary (\$200) B Wildhorse purchased $15,940 of inventory on account. 11 Widhorse sold for $23,900 on account inventory that cost $16,060. 15. Wildhorse sold imventory that cost $720 to Jack Rice for $1,000 Rice charged this amount on his Visa First Banic card. The service fee charged Wildhorse by First Bank is 385 17 Widhorse collected $22,200 from customers on account. 21 Widestse paid 515.710 on accounts paryabie. 24. Wildhorse received payment in full (5200) from Drake Company on the account written off on January 3 27 Widhorse purchased advertising supplies for $1,380 cash. 31 Wildhorse paid other operating expenses, 53,450 Adjustrment data: 1. Interest is recorded for the month on the note from January 1 2. Uncollectibles are expected to be 6% of the January 31,2025 , accounts receivable. 3. A count of advertising supplies on January 31,2025 , reveais that $560 remains unused. 4. The income tax rate is 30%. (Hint: Prepare the income statement up to Income Before Taxes and multiply by 30% to compute the amount; round to whole dollars) Assume Takharn dishonors its note at its maturity in 2023; Whispering does not expect to collect the note. Record the dishoner of mpuirnd, select "No Entry" for the account titles and enter O for the ambunts List ell deblit entries before credit arities) entrie before ocidit entries) eTextbook and Media Assume Takham dishondrs its note at its maturity in 2023, Whispering expects to eventually collect the note. Reccord the diahonor of the Takham note. (Credit account tities are outomaticolly indented when the amount is entered, Do not indent monually. If no entry is