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December 1 : Pane puchases a piece of machinery with cash that will assist in making T - Panes cost of machinery $ 8
December : Pane puchases a piece of machinery with cash that will assist in making TPanes"
cost of machinery $
installation fees $
transportation costs $
December : Pane collects a portion of their accounts receivable
amount collected $
December : Pane sold a piece of their equipment for $ in exchange for cash.
sale price $
Equipment Historical Cost $
Accumulated Depreciation for this equipment $
December : Pane paid the IRS their income tax.
Income Tax Paid $
The payroll information for the year is shown below. All salaries and wages were previously paid for in cash, however this activity has not been recorded on Pane's books.
Number of Employees
Employee payment daily $
Days worked in the current year
On December Pane was notified that their one of their customers filed bankruptcy and would not be able to pay off their $ account receivable.
On December Pane paid cash dividends of $ to its shareholders.
prepare journal entries for each of these transactions please
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