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I have some journal entries but I am not sure if they are right. here is the info and then my journal entries. I could
I have some journal entries but I am not sure if they are right. here is the info and then my journal entries. I could really use someone's help in determining if I correctly listed them. thanks all of these are June dates 3 Sold for $700 office equipment that had cost $2,000 and has associated accumulated depreciation of $1,500 7 Made sales of $2,000 on credit; the cost of the inventory sold was $1,200. 10 Purchased $1,000 of inventory for cash 15 Purchased new office equipment costing $4,000, paying $1,500 and signing a 90 day note for the balance 16 Received check for June 7 credit sale 17 Made cash sales of $4,200; the cost of the inventory sold was $2,300 20 Purchased $2,600 of inventory on credit 24 Returned $200 of defective inventory from the June 20 purchase for a credit to its account 29 Paid for the June 20 purchase less the return. 30 Paid the monthly utility bill, $210. that is what I put. Am I right? Cash 700 Accumlated Depreciation 1,500 Office Equipment 2,000 Gain 200 Accounts Receivable 2,000 Sales Revenue 2,000 Cost of Goods Sold 1,200 Inventory 1,200 Inventory 1,000 Cash 1,000 Office Equipment 4,000 Cash 1,500 Note Payable 2,500 Cash 2,000 Accountas Receivable 2,000 Cash 4,200 Sales Revenue 4,200 Cost of Goods Sold 2,300 Inventory 2,300 Inventory 2,600 Accounts Payable 2,600 Sales Returns & Allowances 200 Inventory 200 Accounts Payable 2,400 Sales returns & Allowances 200 Inventory 2,600 Utility Expense 210 Cash 210
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