Accounting For each of the following transactions, prepare journal entries (Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) LIST OF ACCOUNTS THAT CAN BE USED IN THE EMPTY BOXES Accounts Payable Accounts Receivable Accumulated Depreciation Buildings Accumulated Depreciation Equipment Accumulated Depreciation Trucks Accumulated Depreciation Vehicles Advertising Expense Buildings Cash Common Shares Cost of Goods Sold Depreciation Expense Dividends Payable Equipment Income Tax Payable Interest Expense Interest Payable Inventory Land Miscellaneous Expense Notes Payable Operating Expense Other Expenses Prepaid Insurance Prepaid Rent Rent Expense Rent Revenue Retained Earnings Selling and Administrative Expenses Supplies Expense Wages Payable Wages Expense Advances to Employees Bank Loan Payable Deposits Dividend Revenue Dividends Declared Income Tax Expense Income Summary Insurance Expense Interest Revenue Interest Receivable Licence Expense Long Term Investments Mortgage Payable No Entry Notes Receivable Supplies Prepaid Licence Prepaid Property Tax Property Tax Expense Repair and Maintenance Expense Sales Revenue Service Revenue Short Term Investments Telephone Expense Unearned Revenue Utilities Expense Vehicles Question 1 20 View Policies Current Attempt in Progress For each of the following transactions, prepare journal entries (Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter o for the amounts ) a Inventory costing $3,300 was purchased on account b A payment of $2,900 was made on accounts payable C Inventory costing $2,000 was sold on account for $2,800 (Hint Two journal entries are required ) d Accounts receivable of $2,200 were collected e Supplies costing $1,200 were purchased on account f Supplies costing $500 were consumed during the period g New equipment costing $7,400 was purchased for cash h The company borrowed $12,000 from a bank (Use Bank Loan Payable) i The company issued common shares for $21,000 j Wages totalling $5,700 were earned by employees and paid to them k The company paid $1,900 on its bank loan, which included $170 of interest I The company paid $2,400 for the monthly rent on its leased premises m Land costing $24,000 was purchased The company paid $3,000 in cash and the remainder was financed with a mortgage (a long term loan) (Use Mortgage Payable) No Account Titles and Explanation Debit Credit a b C (To record sale of goods) (To record the cost) d e f 9 h i j k m

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Accounting For each of the following transactions, prepare journal entries: (Credit account titles are automatically indented when the amount is entered. Do not indent manually.

Accounting

For each of the following transactions, prepare journal entries: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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LIST OF ACCOUNTS THAT CAN BE USED IN THE EMPTY BOXES:

Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation-Equipment
Accumulated Depreciation-Trucks
Accumulated Depreciation-Vehicles
Advertising Expense
Buildings
Cash
Common Shares
Cost of Goods Sold
Depreciation Expense
Dividends Payable
Equipment
Income Tax Payable
Interest Expense
Interest Payable
Inventory
Land
Miscellaneous Expense
Notes Payable
Operating Expense
Other Expenses
Prepaid Insurance
Prepaid Rent
Rent Expense
Rent Revenue
Retained Earnings
Selling and Administrative Expenses
Supplies Expense
Wages Payable
Wages Expense
Advances to Employees
Bank Loan Payable
Deposits
Dividend Revenue
Dividends Declared
Income Tax Expense
Income Summary
Insurance Expense
Interest Revenue
Interest Receivable
Licence Expense
Long-Term Investments
Mortgage Payable
No Entry
Notes Receivable
Supplies
Prepaid Licence
Prepaid Property Tax
Property Tax Expense
Repair and Maintenance Expense
Sales Revenue
Service Revenue
Short-Term Investments
Telephone Expense
Unearned Revenue
Utilities Expense
Vehicles

Question 1 --/20 View Policies Current Attempt in Progress For each of the following transactions, prepare journal entries: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) a. Inventory costing $3,300 was purchased on account. b. A payment of $2,900 was made on accounts payable. C. Inventory costing $2,000 was sold on account for $2,800. (Hint: Two journal entries are required.) d. Accounts receivable of $2,200 were collected. e. Supplies costing $1,200 were purchased on account. f. Supplies costing $500 were consumed during the period. g. New equipment costing $7,400 was purchased for cash. h. The company borrowed $12,000 from a bank. (Use Bank Loan Payable) i. The company issued common shares for $21,000. j. Wages totalling $5,700 were earned by employees and paid to them. k. The company paid $1,900 on its bank loan, which included $170 of interest. I. The company paid $2,400 for the monthly rent on its leased premises. m. Land costing $24,000 was purchased. The company paid $3,000 in cash and the remainder was financed with a mortgage (a long-term loan). (Use Mortgage Payable) No. Account Titles and Explanation Debit Credit a. b. C. (To record sale of goods) (To record the cost) d. e. f. 9. h. i. j. k. - m