a. write the normal journal entries

b. write the adjusting journal entries

Acme, Inc. - Normal journal entries for the month of December, 2018: Dec 1 Issued 65,000 shares of common stock for $14 per share. Paid December rent of $7,500. Issued $200,000 bonds at face with an interest rate of 10 % due in 5 years. Dec 1 Dec 1 Purchased $350,000 of inventory terms 1/10, net 30. Dec 3 Sold land at cost for cash, $20,000 Dec 5 Sold equipment with original cost of $60,000 and accumulated depreciation of Dec 8 $35,000 for $18,000 cash. Purchased equipment for $50,000 cash Sold inventory on account for $340,000 with a cost of $160,000, terms 2/15, net 30. Dec 9 Dec 10 Paid for merchandise inventory that was purchased on December 3rd. Dec 11 Dec 15 Paid utilities, $1,700. Wrote off uncollectible accounts, $18,000. Dec 18 Dec 19 Received payment in full for sale on December 10th. Declared and paid cash dividend of $0.40 per share. Dec 31 Paid wages and salaries of $9,200. Dec 31 Normal lenal Entin PART ONE #2 Adjusting Journal Entries Record the AJE's in worksheet #3 and then to worksheet # 1 and total, as you did in Part A above. B. Accrue interest on bonds issued on December 1st. 1. Depreciation expense for the month is $1,120 for for the building and $605 for equipment. Accrue sales of $42,000 with a cost of goods sold of $19,000. 2. 3. Prepaid insurance of $483 expired in December. 4. Unearned revenue of $7,500 with a cost of $3,200 was earned during December. Record patent amortization in the amount of: $1,200. 7. Allowance for bad debt account should equal 3% of the accounts receivable balance rounded to the nearest dollar. 5. 6