Lab 10 Question 2

please only include answers only. no explian

Jack Hammer Company completed the following transactions. The annual accounting period ends December 31. Apr. 30 neceived 5600,000 fron Comerce Bank after signing a twelve-sonth, 6 percent, proaissory note Jone 6 Purchased nerchasdise on acoount at a cost of 575,000 (Asace a perpetual inventory ayatea,) Thaly 15 paid for the June 6 parchane Aug. I1 signed a contract to provide security wervices to a anall apartaent eceplex and collected alix montha fees in advance, anountifg to $24,000 (Use an aocount called Deferced levence. ) Dec. 31 Deternised malary and wages of 540,000 vere oarned bat not yet paid as of Deceaber 31 (lagnore payrolI taxes) Dec. 31 Adjusted the accoante at yoar-end, relating to interest Dec. I1 Adjusted the accounto at year-esd, rolating to security Bervices Required: 1. Prepsre joumal entries for each of the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Received $600,000 from Commerce Bank after signing a twelve-month, 6 percent, promissory note. Note: Frater debits before credits. Jack Hammer Company completed the following transactions. The annual accounting perlod ends December 31. Apr. 30 Received 5600,000 tron Comerce Bank after signing a tvelve-month, 6 percent, proaiasory bote Juse 6 Purehased merehandise on account at a cost of 575,000 (Anaune a perpetual inventory nyatea.) July is Paid for the June 6 purchase Apg. I1 signed a contract to provide necurity aervices to a sanll apartment conplex and collected wix montha" fees in advance, anounting to $24,000 (Wse an account called Deferred Revenue.) Dee. 31 Determined salary and voges of 540,000 vere earned but not yet paid as or becenber 31 (ignore payroll taxes) bee. 31 Adfuuted the accounts at year-end, relating to interest Dec. 31 Adjusted the accounts at year-end, relating to necurity services Required: 1. Prepare journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Purchased merchandise on account at a cost of $75,000 (Assume a perpetual inventory system.) Nose: Enter debits before credas. Jack Hammer Company completed the following transactions. The annual accounting period ends December 31. Apr. 30 leceived $600,000 fron Comporce lank after Higning a twelve-month, 6 percent, promissory note June 6 Purchaned merebandise on account at a cost of $75,000 (Mssume a perpetunl inventosy "ystes.) Jaly 15 Paid for the June 6 parehase Aug. 31 sigped a contract to provide necurity services to a nal1 apartmont corplex and collected aix months" feen in advance, asounting to $24,000 (Dae an acocount called Deferrod Revenue.) Dee. 31 betermiaed salary and wages of 540,000 vere earned but not yet paid as of Decenber J1 (1gnore payroll taxea) Dec. 31 adjusted the aceounta at year-esd, relating to interest Dec. 31 adjuated the accounts at year-end, relating to interest Required: 1. Prepare journol entries for each of the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Paid for the June 6 purchase. Mote: Enter debits before credits. Jack. Hammer Company completed the following transactions. The annual accounting period ends December 31 Ape, 30 Received $600,000 tron Comerce Bank atter aignieg a twelve-month, 6 percent, pronissory note June 6 Purchased serchandise on sccount at a cost of 375,000 (Assuse a perpetusl iaventory systen.) July is paid tor the June 6 purehane Aug. 31 signed a contract to provide security services to a seal1 apartsent coeplex and collected six montha' foes in advance, amounting to 524,000 (Wse an account called Deferred Hevenue.) Dee. 31 Deterained walary and vagen of $40,000 were earned bat not yot paid as of Decenber 31 (Igoore payroll taxen) Dec. 31 Adjusted the accounts at year-end, relating to intereat Dee, 31 adjusted the accounts at year-ond, relating to oocurity services Required: 1. Prepare joumal entries for each of the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Signed a contract to provide security services to a small apartment complex and collected six months' fees in advance, amounting to $24,000 (Use an account called Deferred Revenue.) Note Enter debits before credits. 2. Prepare all adjusting entries required on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 3 Determined salary and wages of $40,000 were earned but not yet paid as of December 31 (ignore payroll taxes). Wote: Enter debits belore credts. 2. Prepare all adjusting entries required on December 31 , (If no entry is required for a transoction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Adjusted the accounts at year-end, relating to interest. Note: Enter debits before credits. 2. Prepare all adjusting entries required on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Adjusted the accounts at year-end, relating to security services. Note: Inter deb th bedore tredit. 3. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31