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Roger Company completed the following transactions during Year 1 . Roger s fiscal year ends on December 3 1 . January 8 Purchased merchandise for
Roger Company completed the following transactions during Year Rogers fiscal year ends on December
January Purchased merchandise for resale on account. The invoice amount was $; assume a perpetual inventory system.
January Paid January invoice.
April Borrowed $ from National Bank for general use; signed a month, annual interestbearing note for the money.
June Purchased merchandise for resale on account. The invoice amount was $
July Paid June invoice.
August Rented office space in one of Rogers buildings to another company and collected six months rent in advance amounting to $
December Received a $ deposit from a customer as a guarantee to return a trailer borrowed for days.
December Determined wages of $ were earned but not yet paid on December disregard payroll taxes
Required:
Prepare journal entries for each of these transactions.
Prepare the adjusting entries required on December
Show how all of the liabilities arising from these transactions are reported on the balance sheet at December
For each transaction, state whether operating cash flows increase, decrease, or are not affected.
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