Solution exercise 4.14 Exercise 4.15 Express the following transactions in journal entry form.: This exercise also covers topics that will be discussed later on in class - e.g. sale of assets. (For example, number 28) 1. Cash payment of amount due to supplier: 2,580. 2 Acquisition of computer equipment (hardware) for 5,600; half of the amount is paid by issuing a cheque, the remainder is due in 6 month. 3. Sale of merchandise for cash: 6,980. 4. Sale of merchandise on open account (60 days): 48,650. 5. Acquisition of merchandise from a supplier at a cost of 1,680 for cash. 6. Purchase of merchandise on credit (60 days): 78,000. 7 We accept a note (bill of exchange) for the previous purchase (see transaction 6). 8. Payment of the salaries totalling 47,000 by bank transfer to the employees' accounts. 9. The bank deposited interest totalling 850 in our account that resulted out of a deposit account with that bank. 10. Depositing a check received from one of our customers in our bank account for payment