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eBook Show Me How Print Item Liability Transactions The following items were selected from among the transactions completed by Sherwood Co. during the current year:
eBook Show Me How Print Item Liability Transactions The following items were selected from among the transactions completed by Sherwood Co. during the current year: Feb. 15. Purchased merchandise on account from Kirkwood Co., 5144,000, terms n/30, Mar. 17. Issued a 60-day, 8% note for $144,000 to Kirkwood Co., on account May 16. Pald Kirkwood Co. the amount owed on the note of March 17. June 15. Borrowed $141,600 from Triple Creek Bank, issuing a 60-day, 9% note. July 21. Purchased tools by Issuing a $93,000, 90 day note to Poulin Co., which discounted the note at the rate of 9% Aug. 14. Paid Triple Creek Bank the interest due on the note of June 15 and renewed the loan by issuing a new 60-day, 10% note for $141,600. (Journalize both the debit and credit to the notes payable account.) Oct. 13. Paid Triple Creek Bank the amount due on the note of August 14, Oct. 19. Paid Poulin Co the amount due on the note of July 21. Dec. 1. Purchased office equipment from Greenwood Co. for $132,000, paying $22,000 cash and issuing a series of ten 6% notes for $11,000 each, coming due at 30-day intervals. Dec. 12. Settled a product liability lawsult with a customer for $76,000, payable in January, Accrued the loss in a litigation claims payable account Dec. 31. Paid the amount due to Greenwood Co on the first note in the series issued on December 1. Required: 1. Journalize the transactions. If an amount box does not require an entry, leave it blank. Assume a 360-day year. If required, round to one decimal place. Don't round the intermediate calculations. Credit For a compound transaction, accounts should be listed largest to smallest Date Account Debit Feb. 15 Inventory 144,000 Accounts Payable Kirkwood.co 144,000 Uwe contre este in SSROOSE Required: 1. Dumalize the transactions tan amount box does not require an entry, blank ondo-day your required, round to one decimal place. Don't round the intermediate calculations For compound traction, con should be listed largest to Date Account Credit Feb. 15 144,000 Accounts Paco 144,000 Debt Mar 17 144,000 erunt hotels 144,000 Meyi Now 144,000 ne II III O 13 2 EX 1004 ALGO Od 1 EX10 SALGO 4EX.10:00 ALGO 194A0 19 EX 10.TALOG ALOO . 13 III 6 1 asus4 Wireusual grey suit. ii,80011001tituteuse r) - he is ): auture D Inn
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