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The company PAZ SAC has the following balances of the highest as of 12/31/2019: cash 13000 Banco del Sur current account 58000 Banco del Norte
The company PAZ SAC has the following balances of the highest as of 12/31/2019:
cash | 13000 |
Banco del Sur current account | 58000 |
Banco del Norte current account | 65000 |
Bank of the Pacific (overdraft) | 2000 |
Commercial invoices receivable | 30500 |
Commercial bills receivable | 20000 |
merchandise | 80000 |
devaluation of existence | 4000 |
company stock | 138000 |
computers | 30000 |
Industrial Machines | 259800 |
accumulated depreciation | 20000 |
prepaid rentals | 5000 |
commercial invoices payable | 3000 |
financial obligations | 45000 |
advance received from clients | 1000 |
2600 | |
advances made to suppliers | 5500 |
Taxes for payable | 400 |
wages payable | 8000 |
contributed social capital | 595000 |
sales | 99000 |
financial expenses | 1900 |
Selling expenses | 12660 |
administrative expenses | 27940 |
Financial income | 300 |
selling costs | 33000 |
In addition, the company detects that it forgot to record the following operations: 5% of the invoices receivable were estimated to be uncollectible, provisioning for the respective loss. In December it is estimated that there has been a decrease in the inventory balance of S /. 6,000. The respective loss must be recorded. The company must record the depreciation for the period (of the year 2019) of the machines if it is known that they have a useful life of 10 years (Apply the Straight Line method) It is known that the Banco del Sur represents a current account of $ 23,200 and that at the end of the period (as of 12/31/2019) the purchase exchange rate is 3.40 and the sale exchange rate is 3.50. It is requested: - Prepare the respective journal entries. - Determine the new balances through the T accounts or General Ledger
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