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I need to journal inserts Seq. No. Date Transaction Description 10 Nov. 3 Receives cash advance $5,000 from customer Alpha for an order to be
I need to journal inserts
Seq. No. | Date | Transaction Description | |
10 | Nov. 3 | Receives cash advance $5,000 from customer Alpha for an order to be filled later | |
11 | Nov. 3 | Purchase 1: 2,000 units @ $50 from supplier A (by cash) | |
12 | Nov. 8 | Purchase 2: 500 units @ $55 from supplier B (50% paid immediately and the remaining is made on account) | |
13 | Nov. 12 | Sells 1,000 units priced @ $75 (sold to customer Alpha, the remaining amount is paid in full by cash immediately) | |
14 | Nov. 15 | Purchase 3: 800 units @ $60 from supplier A (made on account) | |
15 | Nov. 16 | Lends $6,000 to a client by receiving a promissory note issued by the client with interest rate of 6% and maturity of six months. | |
16 | Nov. 20 | Sells 1,200 units priced @ $78 (on account) to customer Beta | |
17 | Nov. 22 | Sells 500 units priced @ 80 (by cash) to customer Gamma | |
18 | Nov. 25 | 5 units from the sale on Nov. 22 are returned and customer Gamma gets full refund immediately | |
19 | Nov. 29 | Repurchases 100 shares at $16 each for the purpose of issuing bonus to employees at the end of the year | |
20 | Nov. 30 | Announces cash dividends to common stocks, with $0.10 per share (Ignore the dividends to preferred stocks), to be paid at the beginning of next year | |
21 | Nov. 30 | Receives a bill from the bank for the month service charge $100 | |
22 | Nov. 30 | Selling expense accrued in the month is $2,000 and paid in full | |
23 | Nov. 30 | Administrative expense for the month is $1,500 and paid in full | |
24 | Nov. 30 | Pays the utility bill for current month by cash $500 | |
25 | Nov. 30 | Accrue salary expense $8,000 for the month, which will be paid at the beginning of the next month | |
26 | Nov. 30 | Pays for the bank service charge by cash | |
27 | Nov. 30 | Receives interest in cash from the short-term investment for the month $150 | |
28 | Nov. 30 | Supplies amount to $800 at the end of the month |
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