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did i answer 7 correctly? NO QUESTIONS WILL BE ANSWERED. PRINT CLEARLY and USE COMPLETE Account Titles. Credit Debit 1,500,000 1,200,000 60,000 650.000 475,000 Account
did i answer 7 correctly? NO QUESTIONS WILL BE ANSWERED. PRINT CLEARLY and USE COMPLETE Account Titles. Credit Debit 1,500,000 1,200,000 60,000 650.000 475,000 Account Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Advertising Office Supplies Inventory Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Wages Expense office Supplies Expense Depreciation Expense Utility Expenses Bad Debt Expense Advertising Expense Dividends 340,000 235,000 80,000 1,860,000 1,250,000 Totals 3,825,000 3,825,000 6. Cash payments to employees during the year totaled $700,000. This was both towards unpaid salaries at the beginning of the ye Dr (Account Name) Wages payable Debit Amount: 80000 Dr.(Account Name) Wages Expense Debit Amount: 620000 Cr. (Account Name) Cash Credit Amount: 700000 7. On March 1, 2022, office supplies with a value of $90,000 were purchased and placed in the storage room Dr. (Account Name) office supplies expense Debit Amount: 90000 Cr. (Account Name) cash Credit Amount 90000 8. Paid $200,000 cash for utilities during the year. Dr. (Account Name) Utilities Expense Debit Amount: 200000 Cr. (Account Name) Cash Credit Amount: 200000 9. During the year $75,000 of customer accounts were written off as uncollectible Dr. (Account Name) Allowance for Doubtful Accou Debit Amount: 60000 Credit Amount: 75000 Cr. (Account Name) Accounts Receivable 10. Accrued wages payable at year-end should be $55,000 Dr. (Account Name) Wages expense Debit Amount: 55000 Cr. (Account Name) Wages Payable Credit Amount: 55000 11 On March 1, 2022, a check for $780,000 was issued for a one year advertising contract to be expensed evenly gyer the next 12 month
did i answer 7 correctly?
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