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Cash Accounts receivable Allowance for doubtful accounts Inventory WINTER COMPANY Balance Sheet December 31, 2019 $14,800 Accounts payable 20,000 Owner's capital (800) 9,300 $43,300 $8,650

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Cash Accounts receivable Allowance for doubtful accounts Inventory WINTER COMPANY Balance Sheet December 31, 2019 $14,800 Accounts payable 20,000 Owner's capital (800) 9,300 $43,300 $8,650 34,650 $43,300 During January 2020, the following transactions occurred. Wildhorse uses the perpetual inventory method Jan. 1 Wildhorse accepted a 4-month, 8% note from Merando Company in payment of Merando's $4,200 account. 3 Wildhorse wrote off as uncollectible the accounts of Inwood Corporation (5500) and Gora Company ($100). 8 Wildhorse purchased $18,500 of inventory on account. 11 Wildhorse sold for $25,600 on account inventory that cost $17,200. 15 Wildhorse sold inventory that cost $700 to Mark Lauber for $1,500. Lauber charged this amount on his Visa First Bank card. The service fee charged Wildhorse by First Ber 17 Wildhorse collected $21.900 from customers on account. 21 Wildhorse paid $16,40Q on accounts payable. 24 Wildhorse received payment in full ($100) from Goza Company on the account written off on January 3. 27 Wildhorse purchased supplies for $1,450 cash. 31 Wildhorse paid other operating expenses, $3,400. Adjustment data: 1. Interest is recorded for the month on the note from January 1. Bad debts are expected to be 6% of the January 31, 2020, accounts receivable. A count of supplies on January 31, 2020, reveals that $600 remains unused lot Indent manually.) we e s or cost of goods sold using the perpetual syste Account Titles and Explanation Notes Receivable Debit Credit Accounts Receivable 4200 3 Allowance for Doubtful Accounts 4200 Accounts Receivable inventory 1 Accounts Payable -3-3-3-3-3-3- -15 18600 Jan. 11 : L 25600 18600 Accounts Receivable | Sales Revenue (To record sales revenues.) - cost of Good Sold -02 2 25600 Inventory -0-0 To record cost of goods sold.) Jan. 15 Service Charge Expense I Sales Revenue To record sales revenues and service charges.) (To record sales revenues and service charges.) 1500 Jan. 15 Cost of Goods Sold Inventory (To record cost of goods sold.) -9-3 7 Jan. 17 : Cash Accounts Receivable -9-9- 1 21900 Accounts Payable 16400 tudy - Cash / - - 15400 Cash - Allowance for Doubtful Accounts (To reinstate the account previously written-off.) Supplies T 100 Cash (To record the payment received.) Other Operating Expenses Tosh (To record other operating expense.) 1) Interest Receivable Interest Revenue (To record interest revenue.) Bad Debt Expense Allowance for Doubtful Accounts (To record bad debts expense.) (3) Supplies Expense Supplies (To record supplies expense.) LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT 14. Your answer is partially correct. Try again. Prepare an Prepare an adjusted trial balance at January 31, 2020. WILDHORSE COMPANY Adjusted Trial Balance January 31, 2020 Debit Credit Sales Revenue Interest Revenue Cost of Goods Sold Supplies Expense wy Other Operating Expenses Service Charge pense st Expense . ---- 170 Taccounts Receivable at Doubtful Accoun Tinventory wable PS5 Doubtful Accounts 10000 420 elvable Payable Capital 10850 34650 74062 TO TECT LINK TO TEXT LINK TO TEXT LINK TO our answer is partially correct Try again are an income statement WILDHORSE COMPANY Income Statement Prepare an income statement. WILDHORSE COMPANY Income Statement January 31, 2020 sales Revenue Interest Revenue 27100 Total Revenues Other Expenses and Losses 27128 Cost of Goods Sold 2900 Supplies Expense 850 Other Operating Expenses T 3400 Service Charge Expense Total Operating Expenses Income Before Income Taxes Income From Operations Expenses and Losses Cost of Goods Sold 17900 Supplies Expense 850/ Other Operating Expenses 3400 E Service Charge Expense PL Total Operating Expenses a 23329 Income Before Income Taxes : 3799 || Income From Operations Net Income / (Loss) - 3799 LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Your answer is partially correct. Try again. Prepare a owner's equity statement for the month ending January 31, 2020. WILDHORSE COMPANY Owner's Equity Statement For the Month Ended January 31, 2020 = Owner's Capital, January 1 | 34650 Add Net Income /(Loss) 3799 Owner's Capital, January 31 o by Study LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Prepare a classified balance sheet as of January 31, 2020. (List current assets in order of liquidity.) WILDHORSE COMPANY Balance Sheet January 31, 2020 current 13005 I accounts Receivable 18900 Your answer is partially correct. Try again. Prepare a classified balance sheet as of January 31, 2020. (List current assets in order of liquidity) WILDHORSE COMPANY Balance Sheet January 31, 2020 Assets Current Assets T Cash Accounts Receivable 18900 Supplies Les lowance for Down T ony abilities and Owner's E Less Allowance for Doubtful Accounts Inventory Interest Receivable DUONE Notes Receivable Total Assets Liabilities and Owner's Equity Current Accounts Payable 49299 Owner's Equity T Owner's Capildi Total Liabetes and Owner's Equity Question Attempts of used

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