req1 and 2:

1. record the borrowinf of $690,000

2. record the purchase of inventory worth $81,000 on account

3. Record the payment for inventory in full

4. Record the collection of six months security service fees in advance amounting to $27,600

5. Record the wages earned, but not yet paid as of December 31.

6. Record the adjusting entry relating to interest

7. Record the adjusting entry relating to security service fees

req 3.

nep 6 kipped Jack Hammer Company completed the following transactions. The annual accounting period ends December 31. Apr. 30 Received $690,000 from Commerce Bank after signing a 12-month, 6 percent, promissory note. June 6 Purchased merchandise on account at a cost of $81,000. (Assune a perpetual inventory system.) July 15 Paid for the June 6 purchase. Aug. 31 Signed a contract to provide security service to a small apartment complex starting in September, and collected six months' fees in advance anounting to $27,680. Dec. 31 Determined salary and wages of $46,000 were earned but not yet paid as of December 31 (ignore payroll taxes). Dec. 31 Adjusted the accounts at year-end, relating to interest. Dec. 31 Adjusted the accounts at year-end, relating to security service. Required: 1. & 2. Prepare journal entries for each of the transactions through August 31 and adjusting entries required on December 31 3. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31 eBook Print Terences Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Prepare journal entries for each of the transactions through August 31 and adjusting entries required on December 31. (Do not round Intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Tannlentuhant w non Canvas Chapter 10 Homework Connect Saved 6 Reg1 and 2 Reg 3 Prepare journal entries for each of the transactions through August 31 and adjusting entries required on Decen intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required in 3.57 points View transaction ist Skipped Journal entry worksheet Book Print 1 2 3 4 5 6 7 Record the borrowing of $690,000. Note: Enter debits before credits Date Apr 30 General Journal Debit Credit W 19 2 3 5 6 7 8 Help SE 6 Complete this question by entering your answers in the tabs below. Red 1 and 2 3.57 points Req3 Show how all of the abilities arising from these items are reported on the balance sheet at December 31. (Do not round Intermediate calculations.) Suppid obook JACK HAMMER COMPANY Balance Sheet (partial At December 31 Print References $ 0