Required information End. Bal. End. Bal. Notes Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. ccounts Payable Notes Payable Beg. Bai. Beg. Bal End. Bal. End. Bal 5 Common Stock Retained Earnings Bea Bali Beg Ba dam End. Ba. CP2-3 Part 3 3. Summarize the journal entry effects from part 2 using T-accounts. TIP: Enter the December 31, balances as the month's beginning balances. Accounts Receivable Beg Bal Beg. Bal. End. Bal End. Bal. Inventory Supplies Beg Bal End, bal Buildings Equipment Beg Ba Beg Ba End Ba CERERE Land Notes Receivable Prev 10 11 12 of 12 Next > O HONDA Xwe o here to search WowComecentml W CP2-3 Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet (LO 2-2, LO 2-3 LO 2-4, LO 2-5) Performance Plastics Company (PPC) has been operating for three years. The beginning account balances are of 5 Cash Accounts Receivable Inventory Supplies Notes Receivable (due in three y Equipment Buildings Land Accounts Payable Notes Payable (due in three years Common Stock Retained Earning $ 43, see 6,25e 50,75e 7, 2ee 6,9ee 127,500 132, eee 45, ese 42,50 117,580 158,wae 189, 10e During the year, the company had the following summarized activities: a. Purchased equipment that cost $22.650: paid $5.750 cash and signed a two-year note for the balance b. issued an additional 3,400 shares of common stock for $34.000 cash. c. Borrowed $54,500 cash from a local bank, payable June 30. In two years. d Purchased supplies for $5.750 cash e. Built an addition to the factory buildings for $77.000: paid $34.250 in cash and signed a three-year note for the balance f. Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked. CP2-3 Part 3 3. Summarze the journal entry effects from part 2 using T-accounts. TIP: Enter the December 31. balances as the month's beginning balances Prev 10 en 12 0 12 # Next >