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Current Attempt in Progress Crane L td . ( CL ) is a medical equipment supply company that sells, installs, and services a variety of
Current Attempt in Progress Crane tdCL is a medical equipment supply company that sells, installs, and services a variety of mobility aid equipment. CL was founded in and has seen significant growth since then. CLs bookkeeper retired in July, and her replacement has asked for your assistance in recording the following transactions from the month of August Regular entries: Aug. CL purchased a new delivery truck for $ paying $ cash and financing the balance using a note payable at per annum. The note payable is due in months, and interest on the note must be paid on the first day of every month, beginning on September CLs management has determined that the truck will have a useful life of six years and a residual value of $ CL paid $ for an insurance policy on the new truck for the period August to December CL sold $ of medical equipment, of which was on account and the balance was cash. The cost to CL of the products sold was $ The company purchased inventory on credit at a cost of $ Golden Years Retirement Group Golden one of CLs largest customers, signed an equipment installation and service contract with CL The contract runs from September to August and will mean that CL services all of Golden's medical equipment. In accor dance with the contract terms, Golden paid CL $ representing four months' service revenue under the contract. CL paid dividends in the amount of $ which had been declared by the board and recorded in July Adjusting entries: Search
Current Attempt in Progress
Crane tdCL is a medical equipment supply company that sells, installs, and services a variety of mobility aid equipment. CL was founded in and has seen significant growth since then. CLs bookkeeper retired in July, and her replacement has asked for your assistance in recording the following transactions from the month of August
Regular entries:
Aug. CL purchased a new delivery truck for $ paying $ cash and financing the balance using a note payable at per annum. The note payable is due in months, and interest on the note must be paid on the first day of every month, beginning on September CLs management has determined that the truck will have a useful life of six years and a residual value of $
CL paid $ for an insurance policy on the new truck for the period August to December
CL sold $ of medical equipment, of which was on account and the balance was cash. The cost to CL of the products sold was $
The company purchased inventory on credit at a cost of $
Golden Years Retirement Group Golden one of CLs largest customers, signed an equipment installation and service contract with CL The contract runs from September to August and will mean that CL services all of Golden's medical equipment. In accor dance with the contract terms, Golden paid CL $ representing four months' service revenue under the contract.
CL paid dividends in the amount of $ which had been declared by the board and recorded in July
Adjusting entries:
Search
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