= 12 A A AA E B Calibri (Body) BI U fx C B28 x A B D E F 1 Directions: Prepare journal entries with the following information 3 a). Purchased a 18 month insurance policy on June 1st for $36,000. 4 Record the purchase along with the December 31 adjusting entry 6 Date Account Debit Credit 1-Jun 31-Dec 14 b) Donald had supplies of $10,000 on January 1, purchased supplies in the year of $25,000 15 and had $18,000 supplies remaining on December 31 Account Debit Credit 17 Date 18 Various 31-Dec 24 On December 16th, Daisy Duck rented a truck for 60 days for $4,500 25 Record the journal entry od December 16th and December 31st 27 Date Account 16-Dec Debit Credit 31-Dec 35 Helpful Resources 37 Accrual Versus Cash-Basis Accounting 39 The accrual basis of accounting 41 The Accrual Basis and Cash Basis of Accounting Problem Paste 12 B I U H A EEEEE ex fx IR A B C D E F G Background Information: Kristoff Company maintains a perpetual inventory system. On June 5th, Kristoff purchased 2,000 ice inventory units at $2 each on account. On June 9, Kristoff sold 800 ice units for $9 each. Kristoff's inventory method assessed the cost of units sold as $6 each. What is the proper journal entry for Kristoff on June 9th Debit Credit Helpful Resources Perpetual inventory system The difference between the periodic and perpetual inventory systems Perpetual inventory system W N8 UWU