Post the journal entries to the T-accounts

1. Dresser paid the interest due on the Bonds Payable on January 1.

2. Dresser paid $950 of salaries and wages, which includes the amount accrued as of December 31, 2020.

3. Dresser sold 4,000 units of inventory for $15.00 each.

4. Dresser purchased supplies on account for $1,300.

5. Dresser purchased 2,000 units of inventory for $1.60 each.

6. Dresser sold 2,600 units of inventory for $16.00 each.

7. Dresser wrote off as uncollectible the accounts of Barker Corporation ($2,200) and Elm Company ($3,400).

8. Dresser paid the interest due on the Bonds Payable on July 1.

9. Dresser purchased 2,500 units of inventory for $1.62 each.

10. Dresser collected $1,400 from Elm Company, part of the balance previously written off.

11. Dresser paid salaries and wages of $72,000.

12. Dresser paid $6,600 for insurance coverage from May 1, 2021 thru April 30, 2022.

13. Dresser sold 3,500 units of inventory for $16.50 each.

14. Dresser collected $87,800 from customers on account.

15. Dresser purchased 3,800 units of inventory for $1.65 each.

16. Dresser paid $10,300 on accounts payable.

17. Dresser sold 500 units of inventory for $15.50 each as a cash sale.

18. Dresser paid $1,600 selling expenses and $3,850 administrative expenses.

19. Dresser declared and paid $6,000 in dividends to its stockholders.

20. Dresser accepted a $55,000, 6%, 3 year note receivable from a trusted customer for 3,000 units of inventory on October 1. The market rate of interest on Oct. 1 was 5%. Interest is received semiannually on April 1 and Oct. 1

 

saance aieet 31-Dec-19 Liabilities and Stockholders' Equity: Assets: Current Llabilities: Accounts Payable Interest Payable 8.200 Curent Assets Cash %24 $ 12.300 2,000 15,720 Accounts Recelvable 400 Salary and Wages Payable Total Current Liabilities Less Alowance for Doubtful Accounts (7,210) $ 10,600 11,580 Inventory Prepaid Insurance Supplies 2,000 Long Term Liabilities: Bonds Payable, 8%, 10 year 590 $ 50,000 ... Total Current Assets $34,980 Property, Plant and Equipment Building $ 100,000 Total Liabilities 60,600 201 Less Accumulateod Depreciation Equipment Less Accumulated Depreciation Total Property, Plant and Equipment (30,000) 60,000 Stockholders' Equity: (35,855) $ 94,145 Common Stock Retained Eamings Total Stockholders' Equity %24 55,000 22 13,525 68,525 Total Assets $ 129,125 Total Liabilities and Stockholders' Equity $ 129,125 0 "Inventory balance is: 4000 units at $1.50 each E 3600 units at $1.55 each Total Inventory *** Interest payable Jan. 1 and July 1 6,000 5,580 $ 11,580