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2017 Jan. 9 Purchased computer equipment at a cost of $12,000, signing a six-month, 9% note payable for that amount. 29 Recorded the week's sales
2017 Jan. 9 Purchased computer equipment at a cost of $12,000, signing a six-month, 9% note payable for that amount. 29 Recorded the week's sales of $63,000, three-fourths on credit and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold. Feb. 5 Sent the last week's sales tax to the state. Jul. 9 Paid the six-month, 9% note, plus interest, at maturity. Aug. 31 Purchased merchandise inventory for $9,000, signing a six-month, 10% note payable. The company uses the perpetual inventory system. Dec. 31 Accrued warranty expense, which is estimated at 4% of sales of $609,000. 31 Accrued interest on all outstanding notes payable. 2018 Feb. 28 Paid the six-month 10% note, plus interest, at maturity. Jan. 29, 2017: Recorded the week's sales of $63,000, 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 Accounts Debit Credit Jan. 29 Choose from any list or enter any number in the input fields and then click Check
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