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Might have more afterward question base on this problem, please help!! Comprehensive Problem 8 a-b, c1-c3 (Part Level Submission) Blue Spruce Corp.'s balance sheet at

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Might have more afterward question base on this problem, please help!!

Comprehensive Problem 8 a-b, c1-c3 (Part Level Submission) Blue Spruce Corp.'s balance sheet at December 31, 2019, is presented below. Cash Accounts receivable Allowance for doubtful accounts Inventory Blue Spruce Corp. Balance Sheet December 31, 2019 $15,000 Accounts payable 19,400 Common stock (700) Retained earnings 9,200 $42,900 $8,750 18,000 16,150 $42,900 During January 2020, the following transactions occurred. Blue Spruce uses the perpetual inventory method. Jan. 1 3 8 11 15 Blue Spruce accepted a 4-month, 8% note from Merando Company in payment of Merando's $6,000 account. Blue Spruce wrote off as uncollectible the accounts of Inwood Corporation ($500) and Goza Company ($200). Blue Spruce purchased $20,000 of inventory on account. Blue Spruce sold for $26,300 on account inventory that cost $17,500. Blue Spruce sold inventory that cost $800 to Mark Lauber for $1,400. Lauber charged this amount on his Visa First Bank card. The service fee charged Blue Spruce by First Bank is 3%. Blue Spruce collected $21,500 from customers on account. Blue Spruce paid $16,200 on accounts payable. Blue Spruce received payment in full ($200) from Goza Company on the account written off on January 3. Blue Spruce purchased supplies for $1,400 cash. Blue Spruce paid other operating expenses, $3,000. 17 21 24 27 31 Adjustment data: 1. 2. 3. Interest is recorded for the month on the note from January 1. Bad debts are expected to be 6% of the January 31, 2020, accounts receivable. A count of supplies on January 31, 2020, reveals that $600 remains unused. (a) Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual system.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Sales Revenue (To record sales revenues.) Cost of Goods Sold (To record cost of goods sold.) Sales Returns and Allowances (To record sales revenues and service charges.) Cost of Goods Sold (To record cost of goods sold.) (To record the payment received.) Other Operating Expenses (To record other operating expense.) A (1) Interest Revenue (To record interest revenue.) A (2) Bad Debt Expense (To record bad debt expense.) A (3) Supplies Expense

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