Caution: Account name should be full named!!!, Each question has different points.

Q6. 01.MAR.2020: The export division sale 5,000 cans of 'Bolqaymoq' to Korea corporation cost $20,000 on terms of 5/10, n/30.(4 points)

Q7. 09.MAR.2020: Accounting division received $10,000 from transaction 6. (4 points)

Q8. 31.MAR.2020: Korea corporation asked DS company to extend maturity of residuals transaction 6 by note. The notes interest rate is 5%, maturity date is 30.SEP (4 points)

Q9. 30.JUNE.2020: DS company CFO decide to discount the notes above transaction 8 to buy some securities. Discount interest rate of bank is 10% (Calculate every 1 month = 30 days, and 1 Year=360days), (10 points)

Q10. 15.JULY.2020: DS company buy acquired 1,000 ordinary shares of China company for $10 per share, and paid brokerage commission 2% (4 points)

Q11~12). 31.DEC.2020 DS company Bolqaymoq inventory changes during 2020 are below. The company use 'LIFO' valuation method and 'periodic inventory system'. Q11) Do three journal entries for purchases. All have been paid by cash. Q12) Do closing journal entry. (15 points)

Hint! : Carefully look at the dates.

Date/Type Cans Cost per can Total Cost

1.JAN Inventory 2,000 $3.5 $7,000

10.JAN Purchase 1,000 $3 $3,000

20.FEB Purchase 4,000 $3.5 $14,000

30.JUNE Purchase 5,000 $3 $15,000