Payable Transactions Chart of Accounts General Journal Instructions Daniel Company engaged in the following transactions during 2020 TAL.. a. Purchased $35,000 of merchandise from XYZ Supplies on January 26. Amount due in Mon February 28 b. Paid for 40% of the purchased merchandise (Transaction a) on February 26 On February 28, negotiate a paymente dension with XYZ for the remainder of the balance from the January 26 purchase by signing a 1-year 8% nole EETA. FETA. d. Borrowed $200,000 on a month interest-bearing note on July 31. e Purchased $140,000 of merchandise on August Amount due in Mul on September 30 Paid for the purchased merchandise (Transaction e) on September 28 9 Received from Mantel Inc. on October 4 a 540,000 deposit against a total sing price of $400.000 for services to be performed for Martel h Pad quarterly installment of Social Security Medicare, and individual income tax withholdings, as shown below. on October 10. The Social Securty and Medicare were previously recorded as expenses during the quarter and the amounts paid represent both the employee and employer shares (50% each Previous Next > Check My Work 3 moto Check My Workesan ADA 6:34 PME 17/12/2019 ote 9 o search eBook Calculator Payable Transactions Chart of Accounts General Journal Instructions employer shares (50% each) $280,000 Social Security taxes withheld Medicare taxes withheld Federal income taxes withheld 65,500 720,000 On December 15, Daniels completed the services ordered by Martel on October 4. Martel's remaining balance of $360,000 is due on January Required: 1. Prepare journal entries for these transactions 2. Prepare any adjusting entries necessary af December 31, 2020. Previous Next Check My Work 3 more Check My Work uses remaining A o e 6 4 11/12/2014 eBook Calculator Payable Transactions natruction Chart of Accounts General Journal Instructions Daniels Company engaged in the following transactions during 2020 Purchased $35,000 of merchandise from XYZ Supplies on January 26. Amount due in full on February 28 b. Paid for 40% of the purchased merchandise (Transaction a) on February 26 c. On February 28, negotiate a payment extension with XYZ for the remainder of the balance from the January 26 purchase by signing a 1-year 80 notes d. Borrowed $200,000 on an 8-month, 9% interest-bearing note on July 31. e Purchased $140,000 of merchandise on August 2. Amount due in full on September 30 1 Paid for the purchased merchandise (Transaction e) on September 28 9. Received from Martel Inc on October 4 a $40.000 deposit against a total selling price of $400.000 for services to be performed for Martel h Paid quarterly installments of Social Security Medicare and individual income tax withholdings, as shown below, on October 10. The Social Security and Medicare were previously recorded as expenses during the quarter and the amounts paid represent both the employee and emplover shares (50% each) Check My Work 3 more Check My Work uses remaning Previous Next O e 9 SA Chart of Accounts General Joumal structions employer shares (50% each). Social Security taxes withheld $280,000 65,500 Medicare taxes withheld Federal income taxes withheld 720,000 On December 15, Daniels completed the services ordered by Martel on October 4. Martel's remaining balance of $360,000 is due on January Required: 1. Prepare journal entries for these transactions 2. Prepare any adjusting entries necessary at December 31, 2020 Previous Ne Check My Work 3 more Check My Work uses remaining 400 V 9 Payable Transactions Chart of Accounts General Journal Instructions Daniel Company engaged in the following transactions during 2020 TAL.. a. Purchased $35,000 of merchandise from XYZ Supplies on January 26. Amount due in Mon February 28 b. Paid for 40% of the purchased merchandise (Transaction a) on February 26 On February 28, negotiate a paymente dension with XYZ for the remainder of the balance from the January 26 purchase by signing a 1-year 8% nole EETA. FETA. d. Borrowed $200,000 on a month interest-bearing note on July 31. e Purchased $140,000 of merchandise on August Amount due in Mul on September 30 Paid for the purchased merchandise (Transaction e) on September 28 9 Received from Mantel Inc. on October 4 a 540,000 deposit against a total sing price of $400.000 for services to be performed for Martel h Pad quarterly installment of Social Security Medicare, and individual income tax withholdings, as shown below. on October 10. The Social Securty and Medicare were previously recorded as expenses during the quarter and the amounts paid represent both the employee and employer shares (50% each Previous Next > Check My Work 3 moto Check My Workesan ADA 6:34 PME 17/12/2019 ote 9 o search eBook Calculator Payable Transactions Chart of Accounts General Journal Instructions employer shares (50% each) $280,000 Social Security taxes withheld Medicare taxes withheld Federal income taxes withheld 65,500 720,000 On December 15, Daniels completed the services ordered by Martel on October 4. Martel's remaining balance of $360,000 is due on January Required: 1. Prepare journal entries for these transactions 2. Prepare any adjusting entries necessary af December 31, 2020. Previous Next Check My Work 3 more Check My Work uses remaining A o e 6 4 11/12/2014 eBook Calculator Payable Transactions natruction Chart of Accounts General Journal Instructions Daniels Company engaged in the following transactions during 2020 Purchased $35,000 of merchandise from XYZ Supplies on January 26. Amount due in full on February 28 b. Paid for 40% of the purchased merchandise (Transaction a) on February 26 c. On February 28, negotiate a payment extension with XYZ for the remainder of the balance from the January 26 purchase by signing a 1-year 80 notes d. Borrowed $200,000 on an 8-month, 9% interest-bearing note on July 31. e Purchased $140,000 of merchandise on August 2. Amount due in full on September 30 1 Paid for the purchased merchandise (Transaction e) on September 28 9. Received from Martel Inc on October 4 a $40.000 deposit against a total selling price of $400.000 for services to be performed for Martel h Paid quarterly installments of Social Security Medicare and individual income tax withholdings, as shown below, on October 10. The Social Security and Medicare were previously recorded as expenses during the quarter and the amounts paid represent both the employee and emplover shares (50% each) Check My Work 3 more Check My Work uses remaning Previous Next O e 9 SA Chart of Accounts General Joumal structions employer shares (50% each). Social Security taxes withheld $280,000 65,500 Medicare taxes withheld Federal income taxes withheld 720,000 On December 15, Daniels completed the services ordered by Martel on October 4. Martel's remaining balance of $360,000 is due on January Required: 1. Prepare journal entries for these transactions 2. Prepare any adjusting entries necessary at December 31, 2020 Previous Ne Check My Work 3 more Check My Work uses remaining 400 V 9