Account Names 1 Started Corporation with $20,000.00 in exchange 10,000 shares common stock Par Value $1.00 cash 2 3 4 5 6 7 8 9 10 11 12 13 14 Cash Common Stock Additional Paid in capital in excess of Purchased a Computer for Cash $3,000.00 Cash Cash Prepaid Rent Cash Cash Equipment Cash earned Inventory Revenue Inventory Paid the Rent for three Months in Advance $3000.00 Did Work for $1000,00 Cash Record the Reduction in Inventory Using LIFO Purchased Inventory 100 Bicycles at $50.00 with Cash Sold 150 Bicycles each for $200.00: 50% for Cash and 50% on Credit. Assume we are using LIFO due to inflationary times. Cash Interest Expense Par valve Purchased Inventory 100 Bicycles at $100.00 with Cash Issued 5 year Bond with a Face/Par Value of $1,000.00 for $1,100.00 Pays 5% Annually( NOT SEMI ANNUALLY) Cash Issued 100 shares $100.00 Par Value Preferred Stock Pays 10% Annually Paid the interest on the bond one year later and amortized the Premium I understand CONNECT combined the entries but Please enter two separate journal entries Cash Amortization of the Bond Premium Straight Line Method over five years Paid the Dividends on the Preferred Stock (number of shares X's Par X's 10%) Retained Earnings Paid Wages of $100.00 Cash; Social Security Withheld 6.20% Medicare Withheld Medicare 1.45%, World Vison $8.00, Blue Cross Blue Shield Insurance $20.00, FIT $17.35 Wage Expense $ 20,000.00 $ $ Debit $ 3,000.00 3,000.00 $ 1,000.00 5,000.00 $ 10,000.00 $ $ 10,000.00 $ 10.000.00 $ 15,000.00 $ 15,000.00 $ $ 3,000.00 $ 12,500.00 Credit $ 3,000.00 S S 1,000.00 1,100 00 $ 5,000.00 $ 10,000.00 $ 10,000.00 $ 30,000.00 50.00 $ 12.500.00 $ 1,000.00 $ 100.00 20 $ 10,000.00 1000 100.00 $ $ 50.00 20 1000 6.20