Provide Journal Entries

October 1" Borrowed $120.000 from Nice Bank by signing a 5-year. 5.759 note. Bank requires equal amount of monthly payment at the end of each month. Each payment consists of interest and a portion of the principal of the loan. The interest is compounded monthly. Journalize the transaction and prepare the necessary loan amortization schedule in the Computations Tab October 1" Purchased a delivery truck (account as equipment) at a cash price of $30,000. Paid $5,000 in cash and financed the remaining at 6% to be paid in 36 equal monthly payments. Related additional cash expenditures were: sales taxes $2,000. painting and lettering company logo $500 and a one-year insurance policy $1200. Journalize the transaction and prepare the necessary loan amortization schedule in the Computations Tab October 1" Entered into a 5-year lease agreement for equipment requiring payment of $800 at the end of each month for 60 months. The equipment has an economic life of 6 years with no salvage value. Company's incremental borrowing rate is 6% per year. Journalize the transaction and prepare the necessary capital leuse amortization schedule in the Computations Tab. October 5 Purchased 8,000 units of Zoom each at $4.20 plus $2,400 sales taxes that were not included in the purchase price, and $160 for shipping and handling in cash. Journalize the transaction. October 15 Sold 6,000 units of Zoom that were purchased on October 51 above to Team America for a price of $12 each, terms were 2/10, 1/30. Applicable sales tax rate was 8% which was not included in price. October 22nd Team America paid the amount owed within discount period. Journalize the transaction. October 2311 During an internal audit, realized that the depreciation expense for last year was understated by $5,000. Last year Income tax rate was 30% October 28" Mr. Brown, the contractor hired by the company, submitted a $108,550 bill with the following details for reimbursement. The payments and collections pertain to the construction of an office building for the company. Company reimbursed Mr. Brown. Make the necessary composite journal entry. Detail of Bills Submitted by Mr. Brown Cost of real estate purchased as plant site. There was an old building on the land. S15,000 Real estate brokers' commissions 800 c. Closing costs such as title and attomey's fees 750 Accrued real estate taxes paid at the time of the purchase of the real estate 1.500 Cost of demolishing building to make land suitable for construction of a new building 6,000 Architect's fees on building plans Excavation costs for new building 6,000 Cost of filling and grading the land 1.200 Insurance and taxes during construction of building Cost of repairs to building under construction caused by a small fire Interest charged by Mr Brown of which S2.500 pertained to the construction period 4,000 Full payment to building contractor - materials and labor 60,000 Cost of parking lots, pavement, and driveways 8,000 b. d 2,000 h. i 1.800 1.500 k. 1 m. October 1" Borrowed $120.000 from Nice Bank by signing a 5-year. 5.759 note. Bank requires equal amount of monthly payment at the end of each month. Each payment consists of interest and a portion of the principal of the loan. The interest is compounded monthly. Journalize the transaction and prepare the necessary loan amortization schedule in the Computations Tab October 1" Purchased a delivery truck (account as equipment) at a cash price of $30,000. Paid $5,000 in cash and financed the remaining at 6% to be paid in 36 equal monthly payments. Related additional cash expenditures were: sales taxes $2,000. painting and lettering company logo $500 and a one-year insurance policy $1200. Journalize the transaction and prepare the necessary loan amortization schedule in the Computations Tab October 1" Entered into a 5-year lease agreement for equipment requiring payment of $800 at the end of each month for 60 months. The equipment has an economic life of 6 years with no salvage value. Company's incremental borrowing rate is 6% per year. Journalize the transaction and prepare the necessary capital leuse amortization schedule in the Computations Tab. October 5 Purchased 8,000 units of Zoom each at $4.20 plus $2,400 sales taxes that were not included in the purchase price, and $160 for shipping and handling in cash. Journalize the transaction. October 15 Sold 6,000 units of Zoom that were purchased on October 51 above to Team America for a price of $12 each, terms were 2/10, 1/30. Applicable sales tax rate was 8% which was not included in price. October 22nd Team America paid the amount owed within discount period. Journalize the transaction. October 2311 During an internal audit, realized that the depreciation expense for last year was understated by $5,000. Last year Income tax rate was 30% October 28" Mr. Brown, the contractor hired by the company, submitted a $108,550 bill with the following details for reimbursement. The payments and collections pertain to the construction of an office building for the company. Company reimbursed Mr. Brown. Make the necessary composite journal entry. Detail of Bills Submitted by Mr. Brown Cost of real estate purchased as plant site. There was an old building on the land. S15,000 Real estate brokers' commissions 800 c. Closing costs such as title and attomey's fees 750 Accrued real estate taxes paid at the time of the purchase of the real estate 1.500 Cost of demolishing building to make land suitable for construction of a new building 6,000 Architect's fees on building plans Excavation costs for new building 6,000 Cost of filling and grading the land 1.200 Insurance and taxes during construction of building Cost of repairs to building under construction caused by a small fire Interest charged by Mr Brown of which S2.500 pertained to the construction period 4,000 Full payment to building contractor - materials and labor 60,000 Cost of parking lots, pavement, and driveways 8,000 b. d 2,000 h. i 1.800 1.500 k. 1 m