Ch 10 HW C Question 1 (of 4) PA10-2 Recording and Reporting current Liabilities with Evaluation of Effects on the Debt to Assets Ratio ILO 10-2, LO 10-sl Jack Hammer Company completed the folowing transactons. The annual accounting period ends December Apr 30 Received Su80,000 form Commerce Bank ater signing a 12-month, on account ata cost of $67000. (Assume 6 perpetualinventory sysem) Paid for the June 6 purchase. Aug Signed a contract to provide securty servoe toa smal apartment oomplek to $10.200 (Use an advance amounting DecDetermined salary and wages of S2000 were earned but not yet paid as of 31 Ignore payroll taxesl. the accounts at year-end relating to interest Aqusted accounts at year nd relating securty service. ournal noreach othe above transactions oe not round intermediais calculations. no entry is tansactionevent select No Journal Entry Required in the first account transaction list view Journal Entry Worksheet Record the borrowing of $480,000. Date General Durnal biEl credit "Enter debits before credits