Question
Super Inc. engaged in the following transactions during 2019: January 10th: Purchased $20,000 2/10, n/30 merchandise on credit January 19th: Paid for the merchandise purchased
Super Inc. engaged in the following transactions during 2019:
January 10th: Purchased $20,000 2/10, n/30 merchandise on credit
January 19th: Paid for the merchandise purchased on January 10th
May 1st: Borrowed $200,000 on a 9-month, 6% interest-bearing note
May 15th: Received a $6,000 deposit from a customer for custom-made cabinets to be manufactured and delivered next month. The total price for the cabinets is $25,000
June 30th: Remitted quarterly installments of FICA and income tax withholdings of $150,000 and $345,000, respectively. The payroll entries, including the employer's payroll taxes, have already been recorded
July 15th: Super Inc. delivered the cabinets
December 31st: Recorded accrued interest on the note payable
Prepare journal entries for each of these transactions
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