Question
5 Prepare journal entries for each of the following 3 transactions by filling in the highlighted cells (3 points for part 1, 2 points for
5 Prepare journal entries for each of the following 3 transactions by filling in the highlighted cells (3 points for part 1, 2 points for part 2, and 4 points for part 3 for a total of 9 points). The transactions are consecutive (in other words, they are NOT independent of each other). 6 Numan Company purchases a computer on November 1, 2018 for the following amount: 7 B $ 9 $ 10 11 12 13 14 15 7,440 The following amount is paid in cash: 2,480 The following amount is financed with a 3-month, 12% note payable: $ 4,960 1. Prepare Numan's journal entry to record the purchase of the computer on November 1, 2018 (3 points). 16 17 18 19 20 2. Prepare Numan's journal entry on December 31, 2018 (balance sheet 21 date) to accrue interest (2 points). 22 23 24 25 3. Prepare Numan's journal entry on January 31, 2019 to record 26 January interest and paying off the note (4 points). 28 722 29 30 21
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