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Clayton Traders commenced December with $10,000 packing supplies on hand. During December it purchased packing supplies for $20,000. Packing supplies on hand at 31 December
Clayton Traders commenced December with $10,000 packing supplies on hand. During December it purchased packing supplies for $20,000. Packing supplies on hand at 31 December 2019 were $4,000. As Clayton Traders adopts the asset method for recording packing supplies, select each of the parts of journal entry: Select one or more: 0 a. Cr Supplies on Hand $26,000 O b. Dr Supplies Expense $4,000 c. Dr Supplies Expense $26,000 d. Cr Supplies on Hand $16,000 e. Dr Supplies Expense $16,000 f. Cr Supplies on Hand $4,000 O n g. Dr Supplies on Hand $26,000 h. Cr Supplies Expense $26,000 0 Werribee Traders has negotiated a loan of $600,000 from the ABC Bank. The terms of the loan are 9% per annum simiple interest and interest is to be paid monthly. Select each of the parts of the monthly journal entry: Select one or more: a. Cr Interest Payable $4,500 b. Dr Interest Expense $54,000 o c. Dr Interest Revenue $4,500 d. Dr Interest Expense $4,500 e. Cr Interest Payable $54,000 f. Cr Loan $54,000 O g. Cr Loan $4,500 0 h. Cr Interest Expense $54,000 Caulfield Traders pay their 3 employees $2,000 each for 2 weeks (10 working days) on a Wednesday. At month end the 3 employees are owed wages for the 7 days they worked at the end of the month. Select each of the parts of the journal entry: Select one or more: a. Dr Wages $6,000 b. Cr Wages Payable $4,200 c. Cr Wages Payable $1,400 d. Dr Wages $4,200 e. Dr Wages $1,400 f. Cr Wages $1,400 O g. Dr Wages Payable $1,400 h. Cr Wages Payable $6,000 i. Dr Wages Payable 4,200 j. Cr Wages $4,200
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