journal entries with debit/credit, t account, income statement, balance sheet

MEMORANDUM TO: FROM: SUBJECT: DATE: Merissa Gardner Matt Cohan September Financial Activities October 13, 1998 Below is a list of our financial activities for September. I hope I've remembered everything. As you requested, I spoke with the accountants. They believe we will be in a 30 percent tax bracket. They also told me that the purchase of a microcomputer is pretty out of the ordinary for an organization our size, and that we should not need to buy another one for at least five years, by which time ours will probably be worth next to nothing. So it seems to me that we should treat the computer as an extraordinary item when we prepare the financial statements. Please let me know if I can help with anything else. Bonne chance! Item No. Description Amount Cash sales for September (checks received with orders) Credit sales for September Cash received from credit sales Bills paid to merchandise suppliers $25,750 9,500 2,000 60,000 Merchandise purchased on credit Value of inventory taken on September 30 Wages paid to assistant 20,000 72,500 1,000 250 225 Wages earned but unpaid at the end of September Utility bills received, but unpaid Purchased a used microcomputer; paid $500 cash, balance of $1,000 due in 5 monthly installments (no interest charge) 1,500