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Can you prepare journal entries for each transaction? Transaction No. Transaction N December 10: Pane collects a portion of their accounts receivable $43,758,000 Amount collected
Can you prepare journal entries for each transaction?
Transaction No. Transaction N December 10: Pane collects a portion of their accounts receivable $43,758,000 Amount collected December 18: Pane sold a piece of their equipment. $15,000 Sale Price Equipment Historical Cost $60,000 Accumulated Depreciation for this equipment $41,000 P December 31: Pane paid the IRS their 2018 income tax. $2,000,000 Income Tax Paid On December 31, Pane paid cash dividends of $8,000 to its shareholders. Q R The payroll information for the year is shown below. All salaries and wages were previously paid for in cash, however this activity has not been recorded on Pane's books. Number of Employees 125 Employee payment (daily) $200 Days worked in the current year 300 On December 31, Pane was notified that their one of their customers filed bankruptcy and would not be able to pay off their $2,000 account receivable. SStep by Step Solution
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