Listed below are the accounts and their respective balances for FF Inc. at December 31, 2019: Cash $ 40,000 Accounts Receivable 26,000 Inventory (4,000 Flowers @ $5 each) Prepaid Rent 20,000 1,000 120,000 Land Equipment 40,000 Accumulated Depreciation 14,250 2,000 14,000 Security Deposit Accounts Payable Taxes Payable Wages Payable Note Payable 4,000 7,000 70,000 Common Stock (200 shares) 60,000 Retained Earnings 79.750 During 2020 the following transactions occurred: Paid prior year's accounts payable. Received prior year's accounts receivable. Purchased 13,000 Flowers at S6 each. Paid 60% down and will pay the rest later. . Sold 14,000 Flowers for $13 each with 70% down (cash) and the other 30% will get later. Paid 2019 taxes payable. Paid cash for wages of $24,000. Paid ten months' rent, $10,000. (Be careful) Paid $4,000 for advertising for 2020. Sold 200 shares of common stock for $400 each on August 31, 2020. Paid utility bill for 2020 - $2,000. On Dec 31, paid annual payment on note payable of $10,000 principal plus $3,500 interest. Paid a $2,200 dividend to shareholders on December 31, 2020. Also, during the year the company paid 50% of the 2020 taxes. They will pay the rest next year. The tax rate is 30%. The company uses the FIFO inventory system. At Dec 31, 2020, the company owed $2,000 in wages which had not yet been paid. The equipment originally cost $40,000, had a eight-year life and was expected to be worth $2,000 at the end. What is the journal entry to record the rent paid during 2020? What is the journal entry to record the rent paid during 2020? Account name Debit Credit Description: QUESTION 37 10 points Save Answer What are the journal entries to record the sale of Inventory to customers during 2020? Account name Debit Credit Description: Description