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I need the complete journal entries for following transaction the completed transaction has to fill all the following accounts what is is need is the
I need the complete journal entries for following transaction
the completed transaction has to fill all the following accounts
what is is need is the completion of the follwing transactions in the following format. its a completed journal entry for the year
Ass Allowance Inve Cash AR January 1, 2010 Sold $200,000 in stock Paid $12,000 for 1 year of rent Received $24,000 for services to be delivered over the coming 12 months Purchased equipment-$30,000, 2% discount, FOB shipping of $600 During the year: On April 1, borrowed $10,000 at 3% interest per 10600 year. Interest is payable semi-annually. Purchased inventory on account, $82,000 Sold inventory for $90,000 on account.000 The inventory had cost $62,000. Collected $81,000 of the sales on account. Paid $82,000 on accounts payable. Purchased inventory on account, $96,000. Paid $70,000 of the accounts payable. Paid salaries of $20,000 Estimated that 2% of sales on account will be uncollectible Depreciated equipment using SL, 5-year life, $5,000 estimated salvage Recorded interest on the loan - first semi-annual payment Recorded interest on the loan - year-end adjustment (3 months) Received notice of a lawsuit from a customer. The attorneys believe there is no legal basis. Rent expense Earned Revenue Ending Balance Total Assets Total Liabilities and Equity Liabilities Unearn Rev 2400o Equip Acc. Dep. AP Assets Allowance Inventory Prepa AR Cash 30000 GoJdd ity Rev Unearn Rev Int. Pay Warranty Note Pay Bonds Stock 24000 Liabilities AP 2 3u0oo looou Cash Flow E. Rev Exp January 1, 2010 Allowance Inventory Prepaid Sold $200,000 in stock 200000 Paid $12,000 for 1 year of rent C1290 Received $24,000 for services to be delivered 24 00o over the coming 12 months Purchased equipment-$30,000, 2% discount. FOB shipping of $600 During the year: On April 1, borrowed S1 0,000 at 3% interest per 10660 year. Interest is payable semi-annually Purchased inventory on account, $82,000. Sold inventory for $90,000 on account. The inventory had cost $62,000. Collected $81,000 of the sales on account. Paid $82,000 on accounts payable. Purchased inventory on account, $96,000 Paid $70,000 of the accounts payable. Paid salaries of $20,000 Estimated that 2% of sales on account will be uncollectible Depreciated equipment using SL, 5-year life, $5,000 estimated salvage Recorded interest on the loan - first semi-annual payment Recorded interest on the loan - year-end adjustment (3 months) Received notice of a lawsuit from a customer. The attorneys believe there is no legal basis. Rent expense Earned Revenue Ending Balance asu Huo) Total Assets Total Liabilities and Equity Liabilities Unearn Rev Int. Pay Warranty Note Pay Bo Equip Acc. Dep Eq Cash Flow ity R.E. Rev Exp Step by Step Solution
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