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Golden Corp.'s current year income statement, comparative balance sheets, and additional information follow. For the yeac, (1) all sales are credit sales. (24 all credits
Golden Corp.'s current year income statement, comparative balance sheets, and additional information follow. For the yeac, (1) all sales are credit sales. (24 all credits to Accounte Recelvable reflect cash recelpts from customers, (3) all purchasec of irventory are on credit. (4) all debits to Accounts Payable reflect cash payments for inventory. (5) Other Expenses are all cash expenses, and (6) any change in! income Taxes Payable reflects the accrual and cash payment of tayes Additional Information on Current Year Transactions a. Purchased equipment for $36,000 cash b. Is5ued 12000 shares of common stock for $5 cach per share c. Declared and paid $89,000 in cash dividende. Using the income statement, the comparative balance sheet, and the additional information given above, reconstruct the entries for the summarized activity of the current fiscal year. Upon completion, the trial balance tab should agree with the December 31, current year balances. Journal entry worksheet Reconstruct the journal entry for cash receipts from customers, incorporating the change in the related balance sheet account(s), if any. Note: Lnter debit: befare creditk
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