Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can I have help finishing the problem as well as the other requirements? The following transactions of San Francisco Pharmacies occurred during 2017 and 2018:

image text in transcribed

Can I have help finishing the problem as well as the other requirements?

The following transactions of San Francisco Pharmacies occurred during 2017 and 2018: (Click the icon to view the transactions.) Journalize the transactions in San Francisco's general journal. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries. Check your spelling carefully and do not abbreviate.) Jan. 9, 2017: Purchased computer equipment at a cost of $14,000, signing a six-month, 9% note payable for that amount Date Accounts Debit Credit Jan. 9 Computer Equipment 14,000 Notes Payable 14,000 Jan. 29, 2017: Recorded the week's sales of $69.000, three-fourths on credit and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold Date Accounts Debit Credit Jan, 29 Cash Accounts Receivable More Info Sales Revenue Sales Tax Payable Purchased computer equipment at a cost of $14,000, signing a six-month, 9% note Jan. 9, 2017 payable for that amount. Recorded the week's sales of $69.000, three-fourths on credit and one-fourth for Jan. 29, 2017 cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold Feb. 5, 2017 Sent the last week's sales tax to the state. Jul. 9, 2017 Paid the six-month, 9% note, plus interest, at maturity. . Purchased merchandise inventory for $3,000, signing a six-month, 11% note Aug. 31, 2017 payable. The company uses the perpetual inventory system. Dec 31, 2017 Accrued warranty expense, which is estimated at 4% of sales of $600,000. , $ Dec. 31. 2017 Accrued Interest on all outstanding notes payable Feb. 28, 2018 Paid the six-month 11% note, plus interest, at maturity, Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Outsourcing Dilemma Whats Best For Internal Auditing

Authors: Larry E. Rittenberg, Institute Of Internal Auditors Research Foundation, Lee A. Campbell

1st Edition

0894133845, 978-0894133848

More Books

Students also viewed these Accounting questions

Question

LO 20-1 Explain what money is and what makes money useful.

Answered: 1 week ago

Question

2. DO change any clerical or calculation errors.

Answered: 1 week ago