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10. The following are the selected transactions of Winsky company. They prepare their financial statements quarterly: Jan 2 Purchased merchandise on account from Yokum company,
10. The following are the selected transactions of Winsky company. They prepare their financial statements quarterly: Jan 2 Purchased merchandise on account from Yokum company, $30000, terms 2/10,n/30 Feb 1 Issues a 9% 2 Month $30000 Note to Yokum in payment of account March 31 Accrued Interest for 2 months on Yokum note. a) Journalise the January Transaction b) Prepare Current liability section of balance sheet as at 31st Dec 2008
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