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Jackson Corporation (the Company) prepares financial statements monthly. The Company started business In September 2006. Listed below are the transactions that occurred in September 2006.

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Jackson Corporation (the Company) prepares financial statements monthly. The Company started business In September 2006. Listed below are the transactions that occurred in September 2006. Prepare the appropriate general journal entry for each transaction. 9/1 The Company Issued 500 shares of capital stock for $10 per share. 9/2 Jackson Corporation borrowed $10,000 from the bank signing a 3-month note at 12% annual interest. 9/3 $3,000 of supplies were purchased on account. 9/4 Office furniture was purchased for $6,000 cash. The furniture is expected to have a ten-year life, with no residual value. 9/15 Wages for the first half of September were paid in the amount of $2,000. 9/17 The company billed customers $1, $00 for services performed. 9/20 $3,000 was received for services to be provided in September and October. 9/23 $S.000 cash was received for services performed in September. 9/27 The Company collected $1,000 on account. 9/30 Dividends were declared and paid in the amount of $1,000. Post each of the Journal entries to the appropriate ledger accounts (t-accounts). Compute the ending balance in each ledger account (t-account). Prepare an unadjusted trial balance. Record in general journal form any adjusting entries needed at the end of September. Additional Information available at the end of September includes: $2,000 of supplies remain: on hand Fees earned but not yet billed total $3,000 By the end of September, the company had performed one-third of the services related to the 9/20 transaction. At the end of September, employees were owed $2,000 Post each of the adjusting entries to the appropriate ledger account. Compute the ending balance in each ledger account (t-account) Prepare an adjusted trial balance. Prepare Jackson Corp.'s financial statements. (Income Statement, Statement of Retained Earnings and Balance Sheet). Prepare closing entries for Jackson Corp. Post the closing entries to the ledger accounts. Compute the ending balance in each ledger account. Prepare an after-closing trial balance for Jackson Corp. Materials Provided: General Journal: To record all journal entries Ledger accounts (t-accounts) to which all journal entries are to be posted

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