K File Page Layout Home Insert Formulas Cate Review View Protected View This file originated from an internet location and might be amafe Cack for more detai 876 A Here are the current account balances for Sharon's Stones: D Shams gones & Protected View Microdot Face the Eubletting 3 4 Income Statement account Amount (dr/er) Sales Revenue 900 cr Balance Sheet account Cash Amount (dr/cr) 4,330 de Service Revenue 150 cr Accounts Receivable 450 dr 6 Cost of Goods Sold Expense 400 dri Inventory 800 dri 7 Utilities Expense 220 dr Equipment 3,000 dr 8 Accounts Payable: 1,200 cr 9 Bank Loan 2,250 cr 10 Sharon, Capital 5,000 cr 11 Sharon, Withdrawals 300 dri 12 13 14 15 16 17 a) 18 b) 19 c) 20 d) Sep 3, 2024-Sharon pays her supplier for the Aug 11 purchase. 21 e) 22 1) 23 e) Sep 18, 2024- Sharon buys inventory for $800 on account. Sep 13, 2024- Sharon makes a $950 cash sale. The goods had cost her $450. 1) Make the necessary journal entries for the following transactions: Aug 31, 2024- Sharon recognizes that her equipment will last 3 years and have a salvage value of $100 at that point. She wishes to depreciate all capital assets on a monthly basis using the straight-line method. Sep 1, 2024- Sharon purchases a $6,000 vehicle financed through a car dealership loan (4% annual interest rate with interest payable every three months). The vehicle is expected to last 5 years with a salvage value of $1,000. Sep 3, 2024- Hugh pays off his remaining debt to Sharon. Sep 9, 2024- Sharon secures a $3,000 contract to produce ten jewellery pieces. The customer will provide the materials and pay at the end. 24 h) Sep 21, 2024- Sharon completes a $100 necklace repair on account. 25 i) 26 j) Sep 28, 2024-Sharon repays $750 of her bank loan. 27 k) Sep 25, 2024 Sharon secures a $2,000 contract to produce seven jewellery pieces. The customer pays her up front, Sep 30, 2024-Sharon estimates she has completed two-thirds (bb./%) of the work on the Sep 9 contract and one-quarter (25%) of the work on the Sep 23 contract. 28 29 30 31 32 33 34 Part 1 Part 2 Part 3 Part 4 Ready 155 PM 2/4/2022