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Because Natalie has had such a successful first few months, she is considering other opportunities to develop her business. One opportunity is the sale of

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Because Natalie has had such a successful first few months, she is considering other opportunities to develop her business. One opportunity is the sale of fine European mixers. The owner of Kzinski Supply Co has approached Natalie to become the exclusive distributor of these hne mixers in her state. The current cost of a mixer is approximately $575, and Natalie plans to sell each for $1,150. Natalie comes to you for advice on how to account for these mixers. Each appliance has a serial number and can be easily identified In the end, Natalie decides to use the perpetual Inventory system. The following transactions occurred during the month of January Jan. 4 6 7 9 10 Bought five mixers on account from Kzinski Supply Co. for $2,875, FOB shipping point terms n/30 Paid $100 freight on the January 4 purchase Returned one of the mixers to Kzinski because it was damaged during shipping, Kzinski issues Cookie Creations credit for the cost of mixer plus $20 for the cost of freight that was paid on January 6 for one mixer. Bought four mixers on account from Kzinski Supply Co. for $2,300, FOB shipping point terms /30. Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. She invests an additional $2,000 cash in Cookie Creations Pald $80 freight on the January 9 purchase. Natalle issued a check to her assistant for all the help the assistant has given her during the month Her assistant worked 20 hours in January and is also paid the $71 owed at December 31, 2022. (Natalie's assistant earns $8 an hour) Paid a $145 cell phone bill($75 for the December 2022 account payable and $70 for the month of January). (Recall that the cell phone is used only for business purposes.) Pald Kzinski the amount due from the January 4 purchase. 12 12 20 21 Date Account Titles and Explanation Debit Credit Jan 4 Jan 6 Jan. Jan 9 Jan. 10 Jan 12 Jan 17 Jan 20 Jan. 21 (To record payment made to creditor)

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