Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Homework: Ch 11 Sunday Homework (ONLY homework for Ch 11) tir Score: 0 of 12 pts 5 of 5 (2 complete) HW Score: 13.33... P11-27A

image text in transcribed
image text in transcribed
image text in transcribed
Homework: Ch 11 Sunday Homework (ONLY homework for Ch 11) tir Score: 0 of 12 pts 5 of 5 (2 complete) HW Score: 13.33... P11-27A (similar to) Question Help The following transactions of Lexington Pharmacies occurred during 2017 and 2018 Click the icon to view the transactions.) Journalize the transactions in Lexington's general journal. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Jan 9, 2017 Purchased computer equipment at a cost of $10,000, signing a six-month, 9% note payable for that amount Date Accounts Debit Credit Jan 9 count The following transactions of Lexington Pharmacies occurred during 2017 and 2018 es More Info es Tax es tax h Purchased computer equipment at a cost of $10,000, Jan. 9, 2017 signing a six-month, 9% note payable for that amount. Recorded the week's sales of $62,000, three-fourths on credit and one-fourth for cash. Sales amounts are subject Jan. 29, 2017 to a 6% state sales tax. Ignore cost of goods sold. Feb. 5, 2017 Sent the last week's sales tax to the state. Jul. 9, 2017 Paid the six-month, 9% note, plus interest, at maturity Purchased merchandise inventory for $6,000, signing a six-month, 9% note payable. The company uses the Aug. 31, 2017 perpetual inventory system Accrued warranty expense, which is estimated at 4% of Dec. 31, 2017 sales of $606,000 I Dec. 31, 2017 Accrued interest on all outstanding notes payable. Eeb 28, 2018 Paid the six-month 9% note plus interest at maturity Filar Print Done Com A Augus urnali: Check Answer Jan. 9, 2017. Purchased computer equipment at a cost of $10,000, sign Date Accounts Jan. 9 Accounts Receivable Cash Computer Equipment Estimated Warranty Payable Interest Expense Interest Payable Long-Term Notes Payable Merchandise Inventory Sales Revenue Sales Tax Payable Short-Term Notes Payable Warranty Expense Choose from any list or enter any number in the input fields and the 7 parts remaining

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Texts And Cases

Authors: Robert Anthony, David Hawkins, Kenneth A. Merchant

12th Edition

0073100919, 978-0073100913

More Books

Students also viewed these Accounting questions

Question

=+48. Oil prices, again. Return to the oil price data of Exercise

Answered: 1 week ago

Question

1.5 Summarize HRM issues for small businesses.

Answered: 1 week ago