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Please help record the adjustingon Dec 31.Thanks The following information applies to the questions displayed below] Rogers Company completed the following transactions during 2014. The
Please help record the adjustingon Dec 31.Thanks
The following information applies to the questions displayed below] Rogers Company completed the following transactions during 2014. The annual accounting period ends December 31, 2014. Jan. 8 Purchased merchandise for resale on account at an invoice cost of $14,860; assume a perlodic Apr. 1 Borrowed $35,000 from National Bank for general use; executed a 12-month, 8 percent interest- Inventory system 17 Pald January 8 Invoice bearing note payable June 3 Purchased merchandise for resale on account at an invoice cost of $17,420. July 5 Pald June 3 Invoice Aug. 1 Rented a small office In a building owned by the company and collected six months' rent In advance amounting to $6.000. (Record the collection in a way that will not require an adjusting entry at year-end.) Dec. 20 Received a $100 deposit from a customer as a guarantee to return a large traller "borrowed" for 30 days 31 Determined wages of $9,500 earned but not yet pald on December 31 (disregard payroll taxes). Persaud Hanmatti inStep by Step Solution
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