Question
Please help with the following journal entries. I am so lost and I need so much help :( 13 1/31/2019 Pay the first month's principal
Please help with the following journal entries. I am so lost and I need so much help :(
13 1/31/2019 Pay the first month's principal and interest due Wells Fargo on the truck loan. interest 5% and principal payments are 500
14 1/31/2019 The company made cash sales of $20,000.00, and collected sales tax of 7%.
15 1/31/2019 Record $75,000 of sales on account for resale customers, exempt from sales tax.
16 1/31/2019 Collect $25,000 of sales on account, net of sales discounts taken by customers of $250.
17 1/31/2019 Customers returned $1,200 of merchandise purchased for cash, with 7% sales tax, refunds made in cash.
18 1/31/2019 Paid dividends of $3,000 to shareholders 19 1/31/2019 Purchased merchandise costing $30,000 from SupplyCo on account.
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