Required information Use the following information for Exercises 13-14 below. (Algo) The following information applies to the questions played below) The tractions of Space Company appear belon ... Space, owner, invested SL250 ch in the company in exchange for common b. The company purchases suples for $326 ch. The company purchased $6.221 of equipment on credit d. The company received $1329 cash for services provided to customer The company pod 0.221 to settle the peable for the ement purchased on t The company bied a custome: $2.395 for services provided 9. The company paid $515 cash for the month rent The company collected $1002 cheap for the sccount cevable contraston L. The company polda Suod cash dividend to the owner isleshoreholder Exercise 2-3 (Algo) Recording effects of transactions in Taccounts LO A1 Required: 1. Prepare general journal entries to record the tons of Sonde company by the follow to account Cash Accounts Receivable Supplies Equipment Accounts Payable:Common Back Ovdende Services Revendent Espense 2 Posters to accounts and the end beances will be called Answer is not complete Complete this question by entering your answers in the tabs below 2 Potries to accounts and the ending balances will be cand Ceth OS About 2.300 L ooo 1 1,002 o o 1100 615 BG 131 Ecom 2210 B 221 11 1. 1. 20 1,150 27 h1 Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.) The transactions of Spade Company appear below. a. K Spade, owner invested $11.250 cash in the company in exchange for common stock b. The company purchased supplies for $326 cash c. The company purchased $6.221 of equipment on credit d. The company received $1,328 cash for services provided to a customer e. The company paid $6.221 cash to settle the payable for the equipment purchased in transaction f. The company billed a customer $2,385 for services provided 9. The company paid $515 cash for the monthly rent h. The company collected $1,002 cash as partial payment for the account receivable created in transaction i. The company paid a $1,100 cash dividend to the owner (sole shareholder) Fvernira 40A h. X Cash 11,250 b 1,328 1,002 d Accounts Receivable 2,385 1. 326 6.221 X X 1,002 9 > X X X 1,100 e 515 Balance Balance 1,383 5,418 Supplies 326 a a X 1,002 X Equipment 6.221 Balance 676 Balance 6,221 Accounts Payable 6.221 g Common Stock a 6,221 a 11,250 Balance 0 Balance 11,250 Required information Accounts Payable 6221 19 Common Stock X x 6221 a 11.250 Balance 0 Balance 11 250 Services Revenue Dividends 1,100 1,328 2,385 Balance 1,100 Balance 3,713 Rent Expense 515 83 Balance 515 Problem 4-1A (Static) Preparing journal entries for merchandising activities LO P1, P2 Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetuat inventory system and the gross method July 1 Purchased merchandise from Boden Company for $6,000 under credit terns of 1/15, 1/30, FOB shipping point, invoice dated July 1. July 2 Sold merchandise to Creek Company for $900 under credit teres of 2/10, 1/60, FOB shipping point, Invoice dated July 2. The merchandise had cost $500 July 3 Paid $125 cash for freight charges on the purchase of July 1. July 8 Sold merchandise that had cost $1,300 for $1,700 cash. July 9 Purchased merchandise from Leight Company for $2,200 under credit terms of 2/15, 1/60, FOB destination, invoice dated July 9. July 11 Returned $200 of merchandise purchased on July 9 fron Leight Company and debited its account payable for that amount. July 12 Received the balance due from Creek Company for the invoice dated July 2, net of the discount. July 16 Paid the balance due to Boden Company within the discount period July 19 Sold merchandise that cost $800 to Art Company for $1,200 under credit terms of 2/15, 1/60, FOB shipping point, invoice dated July 19. July 21 Gave a price reduction (allowance) of $100 to Art Company for merchandise sold on July 19 and credited Art's accounts receivable for that amount. July 24 Paid Leight Company the balance due, net of discount. July 30 Received the balance due from Art Company for the invoice dated July 19, net of discount July 31 Sold merchandise that cost $4,800 to Creek Company for $7,000 under credit terms of 2/10, 1/60) FOB shippine point, Invoice dated July 31. Answer is not complete. No Date General Journal Dubit Credit 9 July 12 882 Cash Sales discounts Accounts receivable-Creek 18 900 OOO 0X 10 July 16 Accounts receivable_Boden Cash Merchandise inventory 6,000 5,880 120 11 July 19 Accounts receivable-Art Sales 1,200 1,200 12 July 19 800 Cost of goods sold Sales 800 13 July 21 100 Sales returns and allowances Accounts receivable Art 100 2,000 14 July 24 Accounts payable-Leight Cash Merchandise inventory 1,960 40 15 July 30 1,078 22 Cash Sales discounts Accounts receivable Art 1,100