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Amazon Inc. Transactions for July 2025: Issued shares worth $450,000. Purchased machinery for $110,000, paid $80,000 in cash, and the rest on credit. Made sales
Amazon Inc.
- Transactions for July 2025:
- Issued shares worth $450,000.
- Purchased machinery for $110,000, paid $80,000 in cash, and the rest on credit.
- Made sales totaling $350,000 (70% on credit), cost of goods sold $200,000.
- Collected $220,000 from customers.
- Paid $90,000 in salaries.
- Paid $55,000 for utilities and other expenses.
- Paid $40,000 towards machinery purchased on credit.
- Recorded depreciation of $13,000 for the month.
Requirements:
- Journalize the transactions for Amazon Inc.
- Post the transactions to the general ledger.
- Prepare an adjusted trial balance as of July 31, 2025.
- Prepare the income statement and balance sheet as of July 31, 2025.
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