Credit Accounts Cash Accounts Receivable Inventory Land Buildings Allowance for Uncollectable Accounta Accumulated Depreciation Accounts Payable Common Stock Retained Earninga Totals Debit $ 11,400 34400 152,200 69 300 122,000 $12000 9,800 19900 202,000 155,600 $389300 $389300 During January 2021, the following transactions occur January 1 Borrow $102,000 from Captive Credit Corporation. The installment note bara interest at 7 annually mature in 5 years. Payments of $2.020 are required at the end of each month for 60 month January 4 Receive $31,200 ron customers on accounts receivable January 10 Pay can on accounts payable, $13,000. January 15 Pay cash for salaries, $29,100. January 30 Firework sal for the month total $195,400. Sales include $65,200 for cab and $130,200 on account. 1 of the units sold is $113,500. January 31 Pay the first monthly installment of $2,020 related to the $102,000 borrowed on January 1, Xound your interest calculation to the nearest dollar. The following information is available on January 31, 2021. a. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building wa purchased, the company estimated a service life of 10 years and a residual value of $24,200. b. The company estimates future uncollectible accounts. The company determines $3,200 of accounts receivable on January 31 past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are past due, and 3% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts recevable balance calculated in the general ledger) c. Unpaid salaries at the end of January are $26,300. d. Accrued income taxes at the end of January are $8,200. e. $17759 of the long-term note payable balance will be paid over the next year Requirement General Journal General Ledger Thal Balance Income Statement Balance Sheet Anasta Credit Accounts Cash Accounts Receivable Inventory Land Buildings Allowance for Uncollectable Accounta Accumulated Depreciation Accounts Payable Common Stock Retained Earninga Totals Debit $ 11,400 34400 152,200 69 300 122,000 $12000 9,800 19900 202,000 155,600 $389300 $389300 During January 2021, the following transactions occur January 1 Borrow $102,000 from Captive Credit Corporation. The installment note bara interest at 7 annually mature in 5 years. Payments of $2.020 are required at the end of each month for 60 month January 4 Receive $31,200 ron customers on accounts receivable January 10 Pay can on accounts payable, $13,000. January 15 Pay cash for salaries, $29,100. January 30 Firework sal for the month total $195,400. Sales include $65,200 for cab and $130,200 on account. 1 of the units sold is $113,500. January 31 Pay the first monthly installment of $2,020 related to the $102,000 borrowed on January 1, Xound your interest calculation to the nearest dollar. The following information is available on January 31, 2021. a. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building wa purchased, the company estimated a service life of 10 years and a residual value of $24,200. b. The company estimates future uncollectible accounts. The company determines $3,200 of accounts receivable on January 31 past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are past due, and 3% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts recevable balance calculated in the general ledger) c. Unpaid salaries at the end of January are $26,300. d. Accrued income taxes at the end of January are $8,200. e. $17759 of the long-term note payable balance will be paid over the next year Requirement General Journal General Ledger Thal Balance Income Statement Balance Sheet Anasta
