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can someone help me with the general journal entries for the picture below! 5. Feb 15th - purchased 200 units of inventory at a cost
can someone help me with the general journal entries for the picture below!
5. Feb 15th - purchased 200 units of inventory at a cost of $280, paying cash for the purchase. 6. Feb 28th - sold 225 units for $400 each. All sales were on account. (Use FIFO to compute Cost of Goods Sold.) 7. Mar 1st - JDT Corporation declared a $22,000 cash dividend to be paid April 5th to shareholders of record on March 1st. 8. Apr 1st - paid $12,000 for one year's office rent in advance. 9. Apr 5th - paid dividend declared on March 1. 10. May 1st - purchased $425 of supplies on account. (Record to Accounts Payable account) 11. June 1st - sold $99,000 of services for the year. Received $33,000 cash payments with the remaining $66,000 as sales on account. 12. July 1st - collected $177,000 of accounts receivable during the year. 13. Aug 1st - paid salaries of $54,000. 14. Oct 1st - borrowed $40,000 from the bank. Note had a 7% annual rate of interest and will mature on 9/30/2022. Interest and principal are to be paid on the maturity date. 15. Oct 1st - declared a $1 per share dividend on the common stock to be paid to shareholders of record on October 1 , payable on November 1, 2021. 16. Nov 1st-paid the dividends that had been declared October 1. 17. Dec 1st - paid operating expenses of $46,000 for the year. 18. Dec 15th paid the balance of the accounts payable. 19. Dec 315t - paid the annual installment of $18,000 on the mortgage payable for the building. The interest rate for the mortgage payable is 2.5%.($18,000 is the total PRINCIPAL PAYMENT) (HINT: Calculate the interest that is to be paid WITH the $18,000 principal payment.) 20. Dec 31st - sold the land for $22,000 cash Step by Step Solution
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