Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 AaBbccdd AaBbced AaBbccdd AaBbcl AaB AaBbcD ABCD Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em Styles Paragraph www w w

image text in transcribed
1 AaBbccdd AaBbced AaBbccdd AaBbcl AaB AaBbcD ABCD Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em Styles Paragraph www w w w wwwwwwwwwwwwwwwwww ledger accounts 2. Record the following transactions in the journal and post to the ledger: 12/02/xx- Purchased 10 Units of Software on Account for $1,300 12/02/xx- Paid employees Salaries owed 12/02/xx- Provided Accounting Service on Account, $3,200 12/05/xx. Purchased Computer Equipment on Account, $4,800 Note: The equipment has an estimated useful life of 4 years, residual value of $50 and uses the DDB method. BUSA 201 Introduction to Financial Accounting Accounting Cycle Project 12/08/XX- Purchased Supplies for $800 cash 12/10/xx-Received $3,000 payment on account 12/11/xx- Sold 15 units of Inventory on Account, $4,500 Note: This transaction requires two journal entries. The first entry should deal with the sale, and the second should deal with the inventory 12/11/xx- Made payment on Account, $1,000 12/12/xx-Purchased 20 units of Inventory on Account, $2,400 12/14/xx-Received a bill for Advertising and paid it, $250 12/15/xx- Provided Accounting service for Cash, $8,000 12/16/xx Paid employees salary for Dec. 1-15 12/17/xx- Provided Accounting Service on Account, $6,000 12/19/xx-Sold 10 units of Inventory on Account, $3,000 Note: This transaction requires two journal entries. The first entry should deal with the sale, and the second should deal with the inventory

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions