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ACCOUNTS PAYABLE OHNSON DRAWING JOHNSON CAPITAL COST OF GOODS SOLD SALES NOTES PAYABLE DEPRECIATION EXP AINT EXPENSE WTEREST EXPENSE RIVIEW PROBLEM MERCHANDISING EXERCISE (1-5) D SCORE: INSTRUCTIONS: Journalist the transactions described below. Each correct Journal line will receive al. RANACCOUNTS DEBIT CRFONT TRANSACTIONS CASH 1 Oohnson invested $40,000 cash 2 in the business 3 4 Olohon purchased Inventory for 5 $24.000 on account 5 7 ohnson borrowed $50.000 from Bank ACCOUNTS RECEIVABLE A of American monthnote 9 10 dhnson purchased to 11 850,000, prichutes en 12 B. Johnson adherent in cash INVENTORY 14 $1,400 15 16 onion sold inventory on account for 12 520,000. Record the revenue here 18 19 The cost of goods sold on the wale was 20 $12,000 EQUIPMENT 21 22 Johnson withdrew cash from the 23 busines, 51.000 24 25 Johnsonpaid off the note, 550,750 ACCUM DEPR. FOU 26 Ginduding face value of $50,000 27 and interest of $750 (Put interest first) 20 29 Johnson recorded one month of 30 depreciation on the equipment. $500 TRIAL BALANCE DERIT CREDIT MERCHANDISING INCOME STATEMENT CASH SALES ACCOUNTS RECEIVABLE COST OF GOODS SOLD INVENTORY GROSS PROFIT VALUEI EQUIPMENT INTEREST EXPENSE ACCUM DEPR EQUIP DEPRECIATION EXPENSE ACCOUNTS PAYABLE RENT EXPENSE NOTES PAYABLE NET INCOME VALUEI CAPITAL DRAWING SALES COST OF GOODS SOLD INTEREST EXPENSE DEPRECIATION DO RENT DCPENSE TOTALS 0