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please help Journal entry worksheet Receive cash on accounts receivable, $23,000 Note: Enter debits before credits. On January 1, 2024, the general ledger of TNT
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Journal entry worksheet Receive cash on accounts receivable, $23,000 Note: Enter debits before credits. On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 Purchase equipment for $20,500. The company estimates a residual value of $2,500 and a six-year service life. January 4 Pay cash on accounts payable, $10,500. January 8 Purchase additional inventory on account, $92,900. January 15 Receive cash on accounts receivable, $23,000. January 19 Pay cash for salaries, $30,800. January 28 Pay cash for January utilities, $17,500. January 30 Firework sales for January total $230,000. All of these sales are on account. The cost of the units sold is $120,000. The following information is available on January 31, 2024. a. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $3,400 for estimated future uncollectible accounts. c. The company has accrued interest on notes receivable for January. d. Unpaid salaries owed to employees at the end of January are $33,600. e. The company accrued income taxes at the end of January $10,000. Journal entry worksheet Purchase additional inventory on account, $92,900. Note: Enter debits before credits. Journal entry worksheet 45 Note: Enter debits before credits. rvote: tenter dedits Derore creaits. Journal entry worksheet \begin{tabular}{l|lllll} 2 & 5 & 6 & 7 & 8 & 15 \end{tabular} Purchase equipment for $20,500. The company estimates a residual value of $2,500 and a six-year service life. Note: Enter debits before credits Step by Step Solution
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