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Need the incorrect debts and credits for journal 3, 6, and 11, along with journal entries 15-17. 1 Great Adventures Problem AP6-1 (GL) The folowing
Need the incorrect debts and credits for journal 3, 6, and 11, along with journal entries 15-17.
1 Great Adventures Problem AP6-1 (GL) The folowing information applies to the questions displayed below. 20 Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal points timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing. or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $700 each Jul. 17 Purchased 82 watches for $12,300 ($150 per vatch) on account Jul. 31 Sold 80 watches for $56,000 cash Aug. 12 Purchased 60 watches for $9,600 ($160 per watch) cash Aug. 22 Sold 50 watches for $35,000 on account. Sep. 19 Paid for watches purchased on July 17 Sep. 27 Receive cash of $21,000 for watches sold on account on August 22. Oct. 27 Purchased 130 watches for $22,100 ($170 per watch) cash Nov. 20 Sold 110 watches for $77,000 cash 4 Purchased 120 watches for $21,600 ($180 per watch) on account. 8 Sold 60 Dec for $42,000 on account atches Dec Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31 the estimated net realizable value of MU watches is only $100 per watch. 1 Answer is not complete. Trial Balance Statem... General Journal General Income Balance Require... Ledger Sheet 20 points Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) General Journal Credit No Date Debit 12,300 Inventory Accounts Payable 1 Jul 17 12,300 Jul 31 2 Cash Sales Revenue 56,000 56,000 Jul 31 Cost of Goods Sold Inventory 70,000 70,000X 4 9,600 Aug 12 Inventory Cash 9,600 5 Accounts Receivable Sales Revenue 35,000 Aug 22 35,000 Cost of Goods Sold Inventory 35,000X 6 Aug 22 35,000X Accounts Payable Sep 19 12,300 7 12,300 Cash Sep 27 Cash Accounts Receivable 21,000 8 21,000 Inventory Cash 22,100 Oct 27 22,100 77,000 10 Cash Nov 20 77,000 Sales Revenue 77,000x 11 Cost of Goods Sold Inventory Nov 20 77,000X Inventory Accounts Payable 21,600 12 Dec 04 21,600 Dec 08 13 Accounts Receivable 42,000 42,000 Sales Revenue Cost of Goods Sold 14 Dec 08 Inventory Dec 31 15 No Journal Entry Required No Journal Entry Required 16 Dec 31 17 No Journal Entry Required Dec 31 General Ledger Requirement Great Adventures Problem AP6-1 (GL) 20 The following information applies to the questions displayed below polnts Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of andother area for business expansion. She notices that a few clinic participants wear multluse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second haif of 2022. All watches are sold for $700 each. ook Ask Jul. 17 Purchased 82 watches for $12,300 ($150 per watch) on account. Jul. 31 Sold 80 atches for $56,000 cash. Aug 12 Purchased 60 vatches for $9,600 ($160 per watch) cash. Aug 22 Sold 50 watches for $35,000 on account Sep. 19 Paid for watches purchased on July 17 Sep. 27 Receive cash of $21,000 for vatches sold on account on August 22 Oct. 27 Purchased 130 watches for $22,100 ($170 per watch) cash Nov. 20 Sold 110 watches for $77,000 cash Print Reference 4 Purchased 120 watches for $21,600 ($180 per watch) on account 8 Sold 60 watches for $42,000 on account. Dec Dec. Late in December, the next generation of multiuse (MU Il) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the abilty to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch General General Trial Income Balance Require... Journal Ledger Balance Statem... Sheet Prepare the jounal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jounal Entry Required" in the first account field.) View transaction list Journal entry worksheet 12 13 17 10 15 16 14 Sold 60 watches for $42,000 on account. Record the cost of inventory sold Note: Enter debits before credits Date General Journal Debit Credit Dec 08 Cost of Goods Sold Inventory Record entry View general journal Clear entry General Ledger Requirement 1 Great Adventures Problem AP6-1 (GL) 20 The following information applies to the questions displayed below points Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure MU watches are waterproof, so moisture from kayaking, rain, fishing. or even diving up to 100 feet won't damage them. Suzie decides to have MU watches avalable for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $700 each. ook Ask Jul. 17 Purchased 82 watches for $12,300 ($150 per atch) on account. Jul. 31 Sold 80 atches for $56,000 cash. Aug. 12 Purchased 60 watches for $9,600 ($160 per watch) cash Aug. 22 Sold 50 watches for $35,000 on account. Sep. 19 Paid for watches purchased on July 17 Sep. 27 Receive cash of $21,000 for vatches sold on account on August 22 Oct. 27 Purchased 130 watches for $22,100 ($170 per watch) cash Nov 20 Sold 110 watches for $77,000 cash Print Reference 4 Purchased 120 watches for $21,600 ($180 per watch) on account 8 Sold 60 watches for $42,000 on account. Dec Dec. Late in December, the next generation of multiuse (MU Iy watches is released. In addition to all of the features of the MU watch, the MU Il watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greaty reduced. As of December 31 the estimated net realizable value of MU watches is only $100 per watch General General Trial Income Balance Require.. Journal Ledger Balance Statem... Sheet Prepare the jounal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jounal Entry Required" in the first account field.) View transaction list Journal entry worksheet 10 16 17 14 15 Record the write-down of inventory to net realizable value. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 No Journal Entry Required Record entry View general journal Clear entry General Ledger Requirement 1 Great Adventures Problem AP6-1 (GL) 20 The following information applies to the questions displayed below, points Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure MU watches are waterproof, so moisture from kayaking, rain, fishing. or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $700 each ook Ask Jul. 17 Purchased 82 atches for $12,300 ($150 per watch) on account. Jul. 31 Sold 80 atches for $56,000 cash. Aug. 12 Purchased 60 atches for $9,600 ($160 per watch) cash. Aug. 22 Sold 50 vatches for $35,000 on account. Sep. 19 Paid for watches purchased on July 17 Sep. 27 Receive cash of $21,000 for vatches sold on account on August 22 Oct. 27 Purchased 130 watches for $22,100 ($170 per watch) cash Nov 20 Sold 110 watches for $77,000 cash Dec Print Reference 4 Purchased 120 watches for $21,600 ($180 per watch) on account 8 Sold 60 watches for $42,000 on account. Dec. Late in December, the next generation of multiuse (MU Il) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches Iis only $100 per watch. General General Trial Income Balance Require.. Balance Statem... Journal Ledger Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jounal Entry Required" in the first account field.) View transaction list Journal entry worksheet 12 14. 15 17 16 Record the closure of revenue accounts. Note: Enter debits before credits Date Dec 31 No Journal Entry Required General Journal Debit Credit View general journal Record entry Clear entry General Ledger> Requirement 1 Great Adventures Problem AP6-1 (GL) 20 The following information applies to the questions displayed below polnts Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure MU watches are waterproof, so moisture from kayaking, rain, fishing. or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second haif of 2022. All watches are sold for $700 each ook Ask Jul. 17 Purchased 82 watches for $12,300 ($150 per watch) on account. Jul. 31 Sold 80 watches for $56,000 cash. Aug. 12 Purchased 60 watches for $9,600 ($160 per watch) cash Aug. 22 Sold 50 vatches for $35,000 on account Sep. 19 Paid for watches purchased on July 17 Sep. 27 Receive cash of $21,000 for vatches sold on account on August 22. Oct. 27 Purchased 130 watches for $22,100 ($170 per watch) cash Print Reference Sold 110 watche $77,000 cash v. 4 Purchased 120 watches for $21,600 ($180 per watch) on account. 8 Sold 60 watches for $42,000 on account Dec Dec. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU Il watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch Balance General General Trial Income Require... Journal Ledger Balance Statem... Sheet Prepare the jounal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jounal Entry Required" in the first account field.) View transaction list Journal entry worksheet 10 12 13 15 16 17 Record the closure of expense accounts. Note: Enter debits before credits General Journal Dec 31 No Journal Entry Required Debit Date Credit Record entry View general journal Clear entryStep by Step Solution
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