PART B: Prepare Journal Entries for the following indopendent transactions: (Answer any 5 from the ? independent tronsactions) (57=35 marks ) 6. Mr. A owner of business invested $100,000 cash and $500,000 worth of Office Equipment. 7 ABC Company computed that the depreciation for Furniture and Fixtures will be $60,000 during the year. 8 DEF Company paid in advance $120,000 for the space it will be renting in the coming months. 9 Accounts Receivable has an outstanding balance of $500,000 and 1.5% will be considered doubtful as to its collection. 10 Bought Office Equipment worth $60,000 but only half was paid. 11 Oftioe equipment of $100,000 will be depreciated using straight line method. Salvage value is $20,000 and a useful life of 10 years. Prepare the annual depreciation entry. 12 Out of $10,060 office supplies balance, only $3,000 were left unused PART B: Prepare Journal Entries for the following indopendent transactions: (Answer any 5 from the ? independent tronsactions) (57=35 marks ) 6. Mr. A owner of business invested $100,000 cash and $500,000 worth of Office Equipment. 7 ABC Company computed that the depreciation for Furniture and Fixtures will be $60,000 during the year. 8 DEF Company paid in advance $120,000 for the space it will be renting in the coming months. 9 Accounts Receivable has an outstanding balance of $500,000 and 1.5% will be considered doubtful as to its collection. 10 Bought Office Equipment worth $60,000 but only half was paid. 11 Oftioe equipment of $100,000 will be depreciated using straight line method. Salvage value is $20,000 and a useful life of 10 years. Prepare the annual depreciation entry. 12 Out of $10,060 office supplies balance, only $3,000 were left unused