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Part I - Transactions Record the transactions below that took place in January a. Collected $24,000 from customers b. Sold appliances for $60,000 cash and
Part I - Transactions Record the transactions below that took place in January a. Collected $24,000 from customers b. Sold appliances for $60,000 cash and $45,000 on account. Cost of appliances sold was $50,000 c. Replenished inventory for $64,000 on credit d. Paid $19,000 to suppliers (from transaction c) e. Managers earned salary of $33,000 of which $30,000 was paid Paid $7,000 at end of the month for January rent g. Accrued $1,000 of interest without any payment Cash Asset Balance Sheet Liabil- ities Trans. Noncash Assets Income Statement Expen- ses Income + Contrib. Capital Net + Earned Rev- Capital enues + a. b. II + + II 11 + + - II d. + II + + II e. + II + + - f. + II + + - g. + II + + - Il
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