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a PA2-3 (Algo) Recording Transactions in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO

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a PA2-3 (Algo) Recording Transactions in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5) The following information applies to the questions displayed below) Barnett Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Barnett Allen's June 30, 2019, trial balance. (The amounts shown represent millions of dollars.) Accounts Payable $ 108 Accounts Receivable 25 Cash Common Stock Equipment Inventory Notes Payable (long-tern) Notes Payable (short-term) Prepaid Rent Retained Earnings Salaries and Wages Payable 130 20 350 166 210 1 22 369 35 50 Software Assume that the following events occurred in the following quarter. Paid $45 cash for additional inventory b. Issued additional shares of common stock for $40 in cash c Purchased equipment for $240, paid $115 in cash and signed a note to pay the remaining $125 in two years. d. Signed a short-term note to borrow $10 cash e Conducted negotiations to purchase a sawmill, which is expected to cost $28. Journal entry worksheet 1 2 3 4 5 Paid $45 cash for additional inventory. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 Issued additional shares of common stock for $40 in cash. Record the transaction. Note: Enter debits before credits. Transaction b General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet Signed a short-term note to borrow $10 cash. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Transaction d Record entry Clear entry View general journal Journal entry worksheet

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