Na ad O A 25 Law Acco G M De 25 SOS Como,000.00 Dagoby powing the ye Ome icon to view the chart or account.) Sold applances on account to QRS Contractors for $200,000, terms n/30 (cost, 580,000) Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale We will do that in the following step Accounts Debit Credit Accounts Receivable 200,000 Sales Revenue 200.000 Date Now journalize the expense related to the transaction () sale Date Accounts Cost of Goods Sold Merchandise Inventory Debit Credit B0.000 30 000 k. Sold appliances to Ferris Contracting for $110,000 (cont. 549.000), receiving a 6-month. 14% note Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale We will do that in the following step Date Accounts Debit Credit Notes Receivable 110.000 Sales Revenue 110.000 Now journalize the expense related to the transaction ) sale Date Accounts Cost of Goods Sold Merchandise Inventory Debit Credit 19.000 Recorded and cards of $65.000 cost $23.000) net of processor fee of Begin by preparing the compound entry needed to journalize the sale portion of the transaction De not record the cost of Choose from any isto enter any number in the input beds and then click Check Ana Recorded credit card sales of $65,000 (cost, $29,000), net of processor fee of 2% egin by preparing the compound entry needed to journalize the sale portion of the transaction. Do not record the cost of poods sold related to the sale. We will do that in the following step Date Accounts Debit Credit 0 Cash 63.700 Credit Card Expense 1 300 Sales Revenue 65.000 Now journalize the cost of goods sold related to the transaction () sale Date Accounts Cost of Goods Sold Merchandise Inventory Debit Credit 29.000 29 000 m. Received payment in full from ORS Contractors Date Accounts Cash Accounts Receivable Debit Credit 200.000 n. Purchased appliances from AM on account for 5590.000 Date Accounts Credit Debt 590.000 (7) Merchandise Inventory Accounts Payable 650 000 o. Made payment on account to MS290,000 Date Accounts Accounts Payable Cash Choose from any storenver any number in the mounds and the chosen 25 Check A Me Sma warto Casino 25 (Click the icon to view the chart of accounts.) Paid cash for expenses: Salaries, S150,000: Utilities, $12.500. (Prepare a compound journal entry to record the paye f these expenses.) Date Accounts Debit Credit (v) Salaries Expense Utilities Expense Cash 150,000 12.500 162.500 w. Replenished the petty cash fund when the fund had $84 in cash and petty cash tickets for $134 for office supplies Date Accounts Debit Credit Office Supplies 134 Cash Short and Over 2 Cash 136 x. Bain withdrew $15,000. Date Accounts Debit Credit Bain, Withdrawals Cash 15.000 15.000 y. Paid the franchise fee to AAA of 7% of total sales of 51.935.000 Date Accounts Franchise Fee Expense Cash Debit Credit 135.450 135.450 Requirement 2. Post to the General 25 doc be R A Depec Cash Short re Romany store betin me puedo che Entor Not Appliance-Myrtle Beach has just purchased a franchise from Enter Not Appliance--Myrtle Beach completed the following transactions during Enter Not Appliance (ENA) 2024, its first year of operations (Click the icon to view the additional information ) Click the icon to view the transactions) Following is the chart of accounts for Enter Net Appliance-Myrtle Beach As a new business, all beginning balances are 50 Read the requirements (Click the icon to view the chart of accounts) Requirement 3. It is a common business practice to reconcile the bank accounts on a monthly basis. However, in this problem, the reconciliation of the company's checking account will be done at the end of the year, based on an annual summary Reconcile the bank account by comparing the following annual summary statement from Myrtle Beach National Bank to the Cash account in the general ledger Record journal entries as needed and post to the general ledger Use transaction as the posting reference Start by reconciling the bank account by comparing the following annual summary statement from Myrtle Beach National Bank to the Cash account in the general ledger. For any outstanding checks, use the appropriate transaction letter descriptions in lieu of chuck numbers to identity cach outstanding payment Click the icon to view the bank statement) (Click the icon to view the cash account) Enter Net Appliance--Myrtle Beach Bank Reconciliation December 31, 2024 BANK 437525 Balance Dec 31, 2024 ADD . $ 0 Beginning Balance, January 1, 2024 Deposits and other credits: $ 540,000 44,100 220,000 300,000 720,000 1,350 Interest Revenue 1,825,450 Checks and other debits: EFT to Bank Checks* $ 75 Checks 55,000 340,000 60,000 52,500 250 3,200 TTCTUJTOV TUU TVCU, TUU Checks and other debits: EFT to Bank Checks* $ 75 Checks: 55,000 340,000 60,000 52,500 250 I 3,200 1,500 260,000 460,000 153,000 Bank service charge 2,400 (1,387,925) $ 437,525 Ending balance, December 31, 2024 *Bank Checks is a company that prints business checks (considered a bank expense) for Enter Net Appliance-Myrtle Beach Cash (a) 540,000 55,000 (b) (0) 44,100 340,000 (c) (m) 220,000 300,000 52,500 (d) 60,000 (e) (p) (9) 118,250 1,500 (0) (u) 720,000 3,200 (9) 250 (0) 260,000 (0) 460,000 (s) 153,000 (v) 199 (w) 25,000 (x) 95,250 (y) Bal. 436,451 Bank Reconciliation December 31, 2024 BANK Balance, Dec. 31, 2024 437525 ADD LESS Enter Net Appliance-Myrtle Beach has just purchased a franchise from Enter Net Appliance (ENA) (Click the icon to view the additional information) Following is the chart of accounts for Enter Net Appliance-Myrtle Beach As a new business, all beginning balances are so (Click the icon to view the chart of accounts) Enter Net Appliance--Myrtle Beach completed the following transactions during 2024, its first year of operations Click the icon to view the transactions) Read the requirements Requirement 3. It is a common business practice to reconcile the bank accounts on a monthly basis. However, in this problem, the reconciliation of the company's checking account will be done at the end of the year based on an annual summary Reconcile the bank account by comparing the following annuat summary statement from Myrtie Beach National Bank to the Cash account in the general ledger Record journal entries as needed and post to the general ledger Use transaction z as the posting reference Start by reconciling the bank account by comparing the following annual summary statement from Myrtle Beach National Bank to the Cash account in the general Indpet For any outstanding checks, use the appropriate transaction totter descriptions in tou of chick mambers to identity nach outstanding payment (Click the icon to view the bank statement Click to icon to Viow the Cash Taccount Enter Not Appliance--Myrtle Beach Bank Reconciliation December 31, 2024 BANK Balance, Dec 31, 2024 437525 ADD $ 0 Beginning Balance, January 1, 2024 Deposits and other credits: $ 540,000 44,100 220,000 300,000 720,000 1,350 Interest Revenue 1,825,450 Checks and other debits: EFT to Bank Checks* $ 75 Checks 55,000 340,000 60,000 52,500 250 3,200 TTCTUJTOV TUU TVCU, TUU Checks and other debits: EFT to Bank Checks* $ 75 Checks: 55,000 340,000 60,000 52,500 250 I 3,200 1,500 260,000 460,000 153,000 Bank service charge 2,400 (1,387,925) $ 437,525 Ending balance, December 31, 2024 *Bank Checks is a company that prints business checks (considered a bank expense) for Enter Net Appliance-Myrtle Beach Cash (a) 540,000 55,000 (b) (0) 44,100 340,000 (c) (m) 220,000 300,000 52,500 (d) 60,000 (e) (p) (9) 118,250 1,500 (0) (u) 720,000 3,200 (9) 250 (0) 260,000 (0) 460,000 (s) 153,000 (v) 199 (w) 25,000 (x) 95,250 (y) Bal. 436,451 Bank Reconciliation December 31, 2024 BANK BOOKS S 437 525 Balance, Dec 31, 2024 437525 Balance, Dec 31, 2024 ADD ADD Deposit in transit 118,250 555,775 LESS LESS Outstanding checks (w) replenish petty cash (x) for owner withdrawal DI s 199 25 000 (y) for franchise fee 95.250 120.449 Adjusted bank balance, Dec 31, 2024 $ 435 326 Na ad O A 25 Law Acco G M De 25 SOS Como,000.00 Dagoby powing the ye Ome icon to view the chart or account.) Sold applances on account to QRS Contractors for $200,000, terms n/30 (cost, 580,000) Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale We will do that in the following step Accounts Debit Credit Accounts Receivable 200,000 Sales Revenue 200.000 Date Now journalize the expense related to the transaction () sale Date Accounts Cost of Goods Sold Merchandise Inventory Debit Credit B0.000 30 000 k. Sold appliances to Ferris Contracting for $110,000 (cont. 549.000), receiving a 6-month. 14% note Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale We will do that in the following step Date Accounts Debit Credit Notes Receivable 110.000 Sales Revenue 110.000 Now journalize the expense related to the transaction ) sale Date Accounts Cost of Goods Sold Merchandise Inventory Debit Credit 19.000 Recorded and cards of $65.000 cost $23.000) net of processor fee of Begin by preparing the compound entry needed to journalize the sale portion of the transaction De not record the cost of Choose from any isto enter any number in the input beds and then click Check Ana Recorded credit card sales of $65,000 (cost, $29,000), net of processor fee of 2% egin by preparing the compound entry needed to journalize the sale portion of the transaction. Do not record the cost of poods sold related to the sale. We will do that in the following step Date Accounts Debit Credit 0 Cash 63.700 Credit Card Expense 1 300 Sales Revenue 65.000 Now journalize the cost of goods sold related to the transaction () sale Date Accounts Cost of Goods Sold Merchandise Inventory Debit Credit 29.000 29 000 m. Received payment in full from ORS Contractors Date Accounts Cash Accounts Receivable Debit Credit 200.000 n. Purchased appliances from AM on account for 5590.000 Date Accounts Credit Debt 590.000 (7) Merchandise Inventory Accounts Payable 650 000 o. Made payment on account to MS290,000 Date Accounts Accounts Payable Cash Choose from any storenver any number in the mounds and the chosen 25 Check A Me Sma warto Casino 25 (Click the icon to view the chart of accounts.) Paid cash for expenses: Salaries, S150,000: Utilities, $12.500. (Prepare a compound journal entry to record the paye f these expenses.) Date Accounts Debit Credit (v) Salaries Expense Utilities Expense Cash 150,000 12.500 162.500 w. Replenished the petty cash fund when the fund had $84 in cash and petty cash tickets for $134 for office supplies Date Accounts Debit Credit Office Supplies 134 Cash Short and Over 2 Cash 136 x. Bain withdrew $15,000. Date Accounts Debit Credit Bain, Withdrawals Cash 15.000 15.000 y. Paid the franchise fee to AAA of 7% of total sales of 51.935.000 Date Accounts Franchise Fee Expense Cash Debit Credit 135.450 135.450 Requirement 2. Post to the General 25 doc be R A Depec Cash Short re Romany store betin me puedo che Entor Not Appliance-Myrtle Beach has just purchased a franchise from Enter Not Appliance--Myrtle Beach completed the following transactions during Enter Not Appliance (ENA) 2024, its first year of operations (Click the icon to view the additional information ) Click the icon to view the transactions) Following is the chart of accounts for Enter Net Appliance-Myrtle Beach As a new business, all beginning balances are 50 Read the requirements (Click the icon to view the chart of accounts) Requirement 3. It is a common business practice to reconcile the bank accounts on a monthly basis. However, in this problem, the reconciliation of the company's checking account will be done at the end of the year, based on an annual summary Reconcile the bank account by comparing the following annual summary statement from Myrtle Beach National Bank to the Cash account in the general ledger Record journal entries as needed and post to the general ledger Use transaction as the posting reference Start by reconciling the bank account by comparing the following annual summary statement from Myrtle Beach National Bank to the Cash account in the general ledger. For any outstanding checks, use the appropriate transaction letter descriptions in lieu of chuck numbers to identity cach outstanding payment Click the icon to view the bank statement) (Click the icon to view the cash account) Enter Net Appliance--Myrtle Beach Bank Reconciliation December 31, 2024 BANK 437525 Balance Dec 31, 2024 ADD . $ 0 Beginning Balance, January 1, 2024 Deposits and other credits: $ 540,000 44,100 220,000 300,000 720,000 1,350 Interest Revenue 1,825,450 Checks and other debits: EFT to Bank Checks* $ 75 Checks 55,000 340,000 60,000 52,500 250 3,200 TTCTUJTOV TUU TVCU, TUU Checks and other debits: EFT to Bank Checks* $ 75 Checks: 55,000 340,000 60,000 52,500 250 I 3,200 1,500 260,000 460,000 153,000 Bank service charge 2,400 (1,387,925) $ 437,525 Ending balance, December 31, 2024 *Bank Checks is a company that prints business checks (considered a bank expense) for Enter Net Appliance-Myrtle Beach Cash (a) 540,000 55,000 (b) (0) 44,100 340,000 (c) (m) 220,000 300,000 52,500 (d) 60,000 (e) (p) (9) 118,250 1,500 (0) (u) 720,000 3,200 (9) 250 (0) 260,000 (0) 460,000 (s) 153,000 (v) 199 (w) 25,000 (x) 95,250 (y) Bal. 436,451 Bank Reconciliation December 31, 2024 BANK Balance, Dec. 31, 2024 437525 ADD LESS Enter Net Appliance-Myrtle Beach has just purchased a franchise from Enter Net Appliance (ENA) (Click the icon to view the additional information) Following is the chart of accounts for Enter Net Appliance-Myrtle Beach As a new business, all beginning balances are so (Click the icon to view the chart of accounts) Enter Net Appliance--Myrtle Beach completed the following transactions during 2024, its first year of operations Click the icon to view the transactions) Read the requirements Requirement 3. It is a common business practice to reconcile the bank accounts on a monthly basis. However, in this problem, the reconciliation of the company's checking account will be done at the end of the year based on an annual summary Reconcile the bank account by comparing the following annuat summary statement from Myrtie Beach National Bank to the Cash account in the general ledger Record journal entries as needed and post to the general ledger Use transaction z as the posting reference Start by reconciling the bank account by comparing the following annual summary statement from Myrtle Beach National Bank to the Cash account in the general Indpet For any outstanding checks, use the appropriate transaction totter descriptions in tou of chick mambers to identity nach outstanding payment (Click the icon to view the bank statement Click to icon to Viow the Cash Taccount Enter Not Appliance--Myrtle Beach Bank Reconciliation December 31, 2024 BANK Balance, Dec 31, 2024 437525 ADD $ 0 Beginning Balance, January 1, 2024 Deposits and other credits: $ 540,000 44,100 220,000 300,000 720,000 1,350 Interest Revenue 1,825,450 Checks and other debits: EFT to Bank Checks* $ 75 Checks 55,000 340,000 60,000 52,500 250 3,200 TTCTUJTOV TUU TVCU, TUU Checks and other debits: EFT to Bank Checks* $ 75 Checks: 55,000 340,000 60,000 52,500 250 I 3,200 1,500 260,000 460,000 153,000 Bank service charge 2,400 (1,387,925) $ 437,525 Ending balance, December 31, 2024 *Bank Checks is a company that prints business checks (considered a bank expense) for Enter Net Appliance-Myrtle Beach Cash (a) 540,000 55,000 (b) (0) 44,100 340,000 (c) (m) 220,000 300,000 52,500 (d) 60,000 (e) (p) (9) 118,250 1,500 (0) (u) 720,000 3,200 (9) 250 (0) 260,000 (0) 460,000 (s) 153,000 (v) 199 (w) 25,000 (x) 95,250 (y) Bal. 436,451 Bank Reconciliation December 31, 2024 BANK BOOKS S 437 525 Balance, Dec 31, 2024 437525 Balance, Dec 31, 2024 ADD ADD Deposit in transit 118,250 555,775 LESS LESS Outstanding checks (w) replenish petty cash (x) for owner withdrawal DI s 199 25 000 (y) for franchise fee 95.250 120.449 Adjusted bank balance, Dec 31, 2024 $ 435 326