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Prepare journal entries to record the following transactions which are independent of each other, 1. a. On May 1, 2020, Shoppers Inc. paid for a
Prepare journal entries to record the following transactions which are independent of each other, 1. a. On May 1, 2020, Shoppers Inc. paid for a 3-month, 6%, $20,000 note issued on Feb. 1, 2020. 2. In January 2020. Diversified Semiconductors collected $30,000 deposits from customers for reusable protective containers. 3. Ulta Inc. allows each employee to earn 15 paid vacation days each year with full pay. Unused vacation time can be carried over to the next year. By the end of 2020, three employees carried over to 2021 a total of 20 vacation days, which represented 2020 salary of $6,000. Note: You may create a table as follows to organize your journal entries. Date Account titles Debit Credit 1 Cash 10.000 Sales Revenue 10,000 Edit Format Table 12pt Paragraph BI U AV 2 Tv
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