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prepare a list of the appropriate journal entries, including any necessary adjusting entries h. Aug 5, collected $2500 of accounts receivable. i. Aug 31st, paid
prepare a list of the appropriate journal entries, including any necessary adjusting entries
h. Aug 5, collected $2500 of accounts receivable. i. Aug 31st, paid $450 of wages payable. j. Sept 4th, paid $1600 of accounts payable. k Dec 31st, incurred and paid $2,000 of utilities expense. 1. Dec 31st, Purchased a copyright for $10,000. The copyright has a 20-year useful life and no residual value. m. Dec 31st, Purchased a second piece of equipment for $4,100 (estimated useful life 12 years, salvage value 2,000). n. The company relies on the percentage of credit sales method, and expects that 2% of credit sales will be uncollectibleStep by Step Solution
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