5 Skipped eBook Ask EZ Curb Company completed the following transactions. The annual accounting period ends December 31. January 8 Purchased merchandise on account at a cost of $15,500. (Assume a perpetual inventory system.) January 17 Paid for the January 8 purchase. April 1 Received $42,400 from National Bank after signing a 12-month, 7.5 percent, promissory note. June 3 Purchased merchandise on account at a cost of $19,500. July 5 July 31 Paid for the June 3 purchase. Rented out a small office in a building owned by EZ Curb Company and collected six months' rent in advance, amounting to $6,900. (Use an account called Deferred Revenue.) Collected $130 cash on account from a customer. December 20 December 31 Determined that wages of $7,100 were earned but not yet paid on December 31 (Ignore payroll taxes). December 31 Adjusted the accounts at year-end, relating to interest. December 31 Adjusted the accounts at year-end, relating to rent. Required: 1. Prepare journal entries for each of the transactions through December 20. 2. Prepare any adjusting entries required on December 31. 3. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31. C

EZ Curb Company completed the following transactions. The annual accounting period ends December 31 . January 8 Purchased merchandise on account at a cost of $15,50. (Assune a perpetwat inventery systen.) January 17 Paid for the January 8 purchase. Aprit 1 Received $42,400 fron National Bank after signing a 12 -nonth, 7,5 percent, pronissory note. June 3 Purchased ne rehandise on account at a cost of $19,50. July 5 Paid for the June 3 purchase. July 31 Rented out a smatl office in a building owned by EZ Curb Company and collected six nonths' rent in advance, anounting to $6,900. (Use an account called Deferred Revenue.) Decenber 20 Collected $130 cash on account from a custoner. Decenber 31 Determined that wages of $7,100 were earned but not yet paid on Decenber 31 (Ignore payroll taxes). Decenber 31 Adjusted the accounts at year-end, relating to interest. December 31 Adjusted the accounts at year-end, relating to rent. Required: 1. Prepare journal entries for each of the transactions through December 20. 2. Prepare any adjusting entries required on December 31. 3. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31