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Elliott and Company had the following transactions during 2018: November 1 Borrowed $18,000 from the First National Bank by signing a 120 day. 107 notes
Elliott and Company had the following transactions during 2018: November 1 Borrowed $18,000 from the First National Bank by signing a 120 day. 107 notes November 2 Paid vendors 55.000 representing amounts due on Count from October purchases. November 3 Collected $20,000 in cash from a customer Tech Works) representing an advance on services to be performed in December and January. November 12 Shipped merchandise and billed customers $18.900 which included 8% sales tax. (Ignore COGS/Inventory) December 31 It was determined that 50% of the services have been completed to Tech Works (see Nov advance) December 31 Recorded adjusting entry related to November 1 Note. Provide the appropriate journal entries below. Date Titles Debit Credit
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