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Please help with part c Comprehensive Problem 7 (Part Level Submission) On December 1, 2017, Fullerton Company had the following account balances. Debit Cash Notes
Please help with part c Comprehensive Problem 7 (Part Level Submission) On December 1, 2017, Fullerton Company had the following account balances. Debit Cash Notes Receivable Accounts Receivable Inventorny Prepaid Insurance Equipment $18,200 Accumulated Depreciation-Equipment $3,000 6,100 50,000 14.400 $73,500 2,200 Accounts Payable 7,500 Common Stock 16,000 Retained Earnings 1,600 28,000 During December, the company completed the following transactions Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $12,000, terms 1/10, n/30. 17 Sold merchandise on account $16.000, terms 2/10, n/30. The cost of the merchandise sold was $10,000. 19 Paid salaries $2,200. 2 Paid Vance Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17 31 Received $2/700 cash from customers in payment of account (no discount allowed) Adjustment data: 1. Depreciation $200 per month. 2. Insurance expired $400. Your answer is correct. dournalize the December transactions. (Assume a perpetual inventory system.) (Credit account titles are automatica
Please help with part c
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