Question
Prepare general journal entries March 1:A corporate customer paid $11,560 for flights taken in January. March 7:AMAPL outsources all its IT requirements.This day it paid
Prepare general journal entries
March 1:A corporate customer paid $11,560 for flights taken in January.
March 7:AMAPL outsources all its IT requirements.This day it paid $125,000 in advance for the next 6 months IT services.AMAPL recognises all such transactions to an asset account.
March 11:AMAPL has a Loan with the Easi Bank.Interest of $23,455 was paid in arrears.
March 16:Bought office and stationery supplies on credit worth $34,431 which will be used over a 2 year period.
March 15:AMAPL owned shares in another company as an investment.It decided to sell those shares and received $255,670 for them.
March 28:AMAPL also provide flying lessons to the public.A complete program consists of 15 monthly lessons and each lesson costs $330.8 people signed up for the entire program and they all paid today.The first lesson is on 15thMay 20X1.
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