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Need help on journal entries ACCT 283 -Managerial Accounting Spring 2019 Transaction 6 In-N-Out paid the following cash expenses on January 20: Salaries Expense $18,250,

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ACCT 283 -Managerial Accounting Spring 2019 Transaction 6 In-N-Out paid the following cash expenses on January 20: Salaries Expense $18,250, Insurance Expense $11,000, and Utilities Expense $13,250. Transaction 7 On February 15, In-N-Out purchased inventory for its restaurant from their vendor on account in the amount of $8,750. Transaction 8 On February 20, a payment of $12,000 cash was paid for dividends. Transaction 9 On February 22, in-N-Out received a telephone bill for $3,000 and will pay this expense next month. Transaction 10 On February 28, a firm engages In-N-Out to provide catering services in March and paid $10,000 in advance of the service. 4 Page

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