Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can someone please help me out with the remaining dates The following transactions of Plymouth Pharmacies occurred during 2017 and 2018: (Click the icon to

can someone please help me out with the remaining dates image text in transcribed
image text in transcribed
The following transactions of Plymouth Pharmacies occurred during 2017 and 2018: (Click the icon to view the transactions.) Joumalize the transactions in Plymouth's general journal. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Sales Tax Payable Feb. 5. 2017: Sent the last week's sales tax to the state. Accounts Credit Feb. 5 Sales Tax Payable Cash 3,780 3,780 Date Debit 3,780 Jul. 9, 2017: Paid the six-month, 9% note, plus interest, at maturity. (Round your answers to the nearest whole dollar) Date Accounts Debit Credit Jul 9 12,000 Short-Term Notes Payable Interest Expense Cash More Info 2017 Jan. 9 Purchased computer equipment at a cost of $12,000, signing a six-month, 9% note payable for that amount 29 Recorded the week's sales of $63,000, three-fourths on credit and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold. Feb. 5 Sent the last week's sales tax to the state. Jul. 9 Paid the six-month, 9% note, plus interest, at maturity. Aug. 31 Purchased merchandise inventory for $9,000, signing a six-month, 10% note payable. The company uses the perpetual inventory system. Dec. 31 Accrued warranty expense, which is estimated at 4% of sales of $609,000. 31 Accrued interest on all outstanding notes payable. 2018 Feb. 28 Paid the six-month 10% note, plus interest, at maturity

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

Step: 3

blur-text-image

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

A Textbook Of Cost And Management Accounting

Authors: Arora

10th Edition

9789325956209

More Books

Students also viewed these Accounting questions

Question

3 When might constructivist view of self be not relevant and why?

Answered: 1 week ago