*** If you're not going to answer them all, please don't bother. Thank you***

Journal Entries

1. A customer pays for his $100 meal in your restaurant using a VISA card. VISA charges you 4% fee. (VISA pays you the cash immediately).

2. Corp. owes $1,400 for merchandise it bought last month. Terms of the purchase are 2/10/n30. Corp pays within the discount period. Prepare Corp.s entry to pay this invoice.

3. Bob signs a $10,000, 8%, 90 day promissory note to you in payment of a past due account.

4. You collect a $10,000, 8%, 90 day note in full (on the due date) Note you did not do any entries to accrue interest. Prepare the entry honoring the note.

5. BeeCorp bought a machine paying $120,000. Estimated life is 60 months. Using straight-line depreciation prepare the journal entry to record ONE MONTHS depreciation.

6. JayCo is disposing of a machine fully depreciated machine with an original cost of $25,000. Prepare the entry to dispose of the machine.

7. WalMart sold a TV collecting $600 PLUS 8% sales tax. Prepare WalMarts entry recording this transaction.

8. BobCo sends a check to pay off his $1,000, 12%, 6 month note. Prepare BobCos entry to pay off the note he owes. (He did not accrue interest each month)

9. JCo sells $50,000 worth of machines in MAY. JCo expects 8% warranty claims for these machines. Prepare JCos MAY journal entry for the expected warranty costs.

10. Bob is a customer of JCo who owes $1,000. JCo has decided the write off the Bob account using the Direct Write-Off method. Prepare the entry.

11. Company issued $1,000,000 of 6% bonds at par. Prepare the entry to issue the bonds.

12. Company issued $1,000,000 of 6% bonds at par. Prepare the entry to pay the first semi-annual interest payment.

13. DCorp issued 10,000 shares of $10 par stock at $17. Prepare the entry to issue the stock

14. ZeeCo declares a $100,000 cash dividend to its shareholders. Prepare the entry, on the date of declaration date, for the dividend. (Note: the dividend will actually be paid out next month).