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please solve thank u PA10-2 (Algo) Recording and Reporting Current Liabilities with Evaluation of Effects on the Debt-to- Assets Ratio (LO 10-2, LO 10-5) Jack

please solve thank u
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PA10-2 (Algo) Recording and Reporting Current Liabilities with Evaluation of Effects on the Debt-to- Assets Ratio (LO 10-2, LO 10-5) Jack Hammer Company completed the following transactions. The annual accounting period ends December 31, April 30 Received $450,000 from Commerce Bank after signing a 12-month, 5 percent, promissory note. June 6 Purchased merchandise on account at a cost of $65,000. (Assume a perpetual inventory system.) July 15 paid for the June 6 purchase. August 31 Signed a contract to provide security service to a small apartment complex starting in September, and collected six months' fees in advance, amounting to $18,000. December 31 Determined salary and wages of $30,986 were earned but not yet paid as of December 31 (ignore payroll December 31 Adjusted the accounts at year-end, relating to interest. December 31 Adjusted the accounts at year-end, relating to security service. Required: 1. & 2. Prepare journal entries for each of the transactions through August 31 and adjusting entries required on December 31 3. Show how all of the labilities arising from these items are reported on the balance sheet at December 31, Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Prepare Journal entries for each of the transactions through August 31 and adjusting entries required on December 31. (Do not round Intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Book Record the borrowing of $450,000 Note: Enter debits before credits. Date General Journal Debit Credit April 30 Record entry Clear entry View general journal Journal entry worksheet book int 2 3 4 5 6 7 > Record the purchase of inventory worth $65,000 on account. Note: Enter debits before credits General Journal Debit Credit Date June 06 Record entry Clear entry View general Journal Journal entry worksheet Record the payment for inventory in full. Note: Enter debits before credits Date General Journal Debit Credit July 15 Record entry Clear entry View general Journal Journal entry worksheet OK Record the adjusting entry relating to security service fees. Note: Enter debits before credits General Journal Debit Date December 31 Credit Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Show how all of the liabilities arising from these items are reported on the balance she intermediate calculations.) JACK HAMMER COMPANY Balance Sheet (partial) At December 31 $

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