journal entries

9. March 1". Mr. Burns reclassed the current portion of long term notes payable. Reclass only the portion on the balance sheet as of January 1st, 2020 10. March 5: Mr. Burns paid for the following expenses that came in: Sales Salary Expense $70,000, Advertising Expense $50,000, and Delivery Expense $40,000. All of the expenses were paid in one transaction. 11. March 6: Mr. Burns collected $30,000 of the 1/1/2020 balance of the note receivable from Mayor Quimby. The interest rate was 15% and the Note was written on July 1", 2019 12. March 7: The Candy Store paid Mr. Burns what they owed him on account 13. March 15: Mr. Burns paid income tax payable owed from last year 14. April 1 Not liking being accountable to outside shareholders, Mr. Burns decided to buy back some treasury stock. Mr. Burns bought the $1.00 per value shares back (300,000 shares) at 5.50 per share, 15. April 4: Because of cockroaches in some of the radioactive cookie dough, Mr. Burns was required to buy additional inventory. He paid $98,000 for the inventory 16. April 10: Mr. Burns paid for the following expenses Advertising $100,000, Omice Salaries $80,000, Wages $40,000, and Utility $10,000. All expense transactions were settled with one payment transaction 17 May 01 The Grocery Store bought 100,000 of cookies on account Mr. Burns was still angry that his casino got shutdown so there were no discount terms. The cost of the inventory was $200,000 18 June 1: Having its own cash flow crunch, The Grocery Store paid Mr Burns $100,000 and issued a note for 300,000. Against their better judgment, they agreed to the terms of 14% 19. Jun 2 Mr. Burns issued a 2:1 Stock Split 20. June Mr Burns bought back an additional 200,000 shares of Treasury Stock at $50 per share 21 June 21. The following expenses accrued and are to be paid in a later month Pension Expense $60,000, Health Insurance Expense 550,000, and Professionales $10,000 22 July ! Me Burns od 100.000, 10 years (semiannual payments) coupon rate of 10%, market rate of 12% Mi Smithers gave this bond the code name lond 9. March 1". Mr. Burns reclassed the current portion of long term notes payable. Reclass only the portion on the balance sheet as of January 1st, 2020 10. March 5: Mr. Burns paid for the following expenses that came in: Sales Salary Expense $70,000, Advertising Expense $50,000, and Delivery Expense $40,000. All of the expenses were paid in one transaction. 11. March 6: Mr. Burns collected $30,000 of the 1/1/2020 balance of the note receivable from Mayor Quimby. The interest rate was 15% and the Note was written on July 1", 2019 12. March 7: The Candy Store paid Mr. Burns what they owed him on account 13. March 15: Mr. Burns paid income tax payable owed from last year 14. April 1 Not liking being accountable to outside shareholders, Mr. Burns decided to buy back some treasury stock. Mr. Burns bought the $1.00 per value shares back (300,000 shares) at 5.50 per share, 15. April 4: Because of cockroaches in some of the radioactive cookie dough, Mr. Burns was required to buy additional inventory. He paid $98,000 for the inventory 16. April 10: Mr. Burns paid for the following expenses Advertising $100,000, Omice Salaries $80,000, Wages $40,000, and Utility $10,000. All expense transactions were settled with one payment transaction 17 May 01 The Grocery Store bought 100,000 of cookies on account Mr. Burns was still angry that his casino got shutdown so there were no discount terms. The cost of the inventory was $200,000 18 June 1: Having its own cash flow crunch, The Grocery Store paid Mr Burns $100,000 and issued a note for 300,000. Against their better judgment, they agreed to the terms of 14% 19. Jun 2 Mr. Burns issued a 2:1 Stock Split 20. June Mr Burns bought back an additional 200,000 shares of Treasury Stock at $50 per share 21 June 21. The following expenses accrued and are to be paid in a later month Pension Expense $60,000, Health Insurance Expense 550,000, and Professionales $10,000 22 July ! Me Burns od 100.000, 10 years (semiannual payments) coupon rate of 10%, market rate of 12% Mi Smithers gave this bond the code name lond