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Record all of the transactions by 1) writing the journal entries 2) posting them to the general ledger 3) recording any adjusting entries needed at
Record all of the transactions by
1) writing the journal entries
2) posting them to the general ledger
3) recording any adjusting entries needed at the end of the 3-month period
4) Prepare Financial Statements to present to the bank
11-Mar | A tour bus stopped at the wharehouse and the tourists purchased $900 of shirts | |||||
that cost $300 to make | ||||||
15-Mar | Becky paid rent for $2,500 | |||||
15-Mar | Fourth week of on-line sales results in $1,500 of sales on inventory that cost $500 to make | |||||
15-Mar | Becky purchased supplies on account for $4,000 | |||||
15-Mar | Becky gets a loan from the bank for $50,000. Interest is due annually at a rate of 6%. | |||||
The full amount is due in 5 years. | ||||||
15-Mar | Becky paid her staff a total of $1,500 for the period of March 1 - 15. | |||||
19-Mar | Becky pays a repair company $700 to provide maintenace to her equipment | |||||
22-Mar | One of Becky's logos has really caught on and is selling like hotcakes! She decided | |||||
to pay a lawyer $500 to get a copyright on the design. | ||||||
24-Mar | Fifth week of on-line sales results in $2,100 of sales on inventory that cost $700 to make | |||||
31-Mar | A count of the supplies closet inventory showed a total of $750 supplies on hand |
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