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On January 1 , 2 0 2 4 , the general ledger of ACME Fireworks includes the following account balances: Accounts Debit Credit Cash $
On January the general ledger of ACME Fireworks includes the following account balances: Accounts Debit Credit Cash $ Accounts Receivable Allowance for Uncollectible Accounts $ Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable due April Common Stock Retained Earnings Totals $ $ During January the following transactions occur: January Sold gift cards totaling $ The cards are redeemable for merchandise within one year of the purchase date. January Purchase additional inventory on account, $ ACME uses the perpetual inventory system. January Firework sales for the first half of the month total $ All of these sales are on account. The cost of the units sold is $ January Receive $ from customers on accounts receivable. January Pay $ to inventory suppliers on accounts payable. January Write off accounts receivable as uncollectible, $ January Firework sales for the second half of the month total $ Sales include $ for cash and $ on account. The cost of the units sold is $ January Pay cash for monthly salaries, $ Record closing entries. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field.Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. tableDateGeneral Journal,Debit,CreditJanuary
On January the general ledger of ACME Fireworks includes the following account balances:
Accounts Debit Credit
Cash $
Accounts Receivable
Allowance for Uncollectible Accounts $
Inventory
Land
Equipment
Accumulated Depreciation
Accounts Payable
Notes Payable due April
Common Stock
Retained Earnings
Totals $ $
During January the following transactions occur:
January Sold gift cards totaling $ The cards are redeemable for merchandise within one year of the purchase date.
January Purchase additional inventory on account, $ ACME uses the perpetual inventory system.
January Firework sales for the first half of the month total $ All of these sales are on account. The cost of the units sold is $
January Receive $ from customers on accounts receivable.
January Pay $ to inventory suppliers on accounts payable.
January Write off accounts receivable as uncollectible, $
January Firework sales for the second half of the month total $ Sales include $ for cash and $ on account. The cost of the units sold is $
January Pay cash for monthly salaries, $
Record closing entries. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field.Journal entry worksheet
Record the closing entry for revenue accounts.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditJanuary
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