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[The following information applies to the questions displayed below.) Roger Company completed the following transactions during Year 1. Roger's fiscal year ends on December 31.
[The following information applies to the questions displayed below.) Roger Company completed the following transactions during Year 1. Roger's fiscal year ends on December 31. Jan. 8 Purchased merchandise for resale on account. The invoice amount was $14,860; assume a perpetual inventory system. 17 Paid January 8 invoice. Apr. 1 Borrowed $35,000 from National Bank for general use; signed a 12-month, 8% annual interest-bearing note for the money. June 3 Purchased merchandise for resale on account. The invoice amount was $17,420. July 5 Paid June 3 invoice. Aug. 1 Rented office space in one of Roger's buildings to another company and collected six months' rent in advance amounting to $6,000. Dec. 20 Received a $100 deposit from a customer as a guarantee to return a trailer borrowed for 30 days. 31 Determined wages of $9,500 were earned but not yet paid on December 31 (disregard payroll taxes). Required: 1. Prepare journal entries for each of these transactions, (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 1 2 3 4 5 6 7 8 Purchased merchandise for resale on account. The invoice amount was $14,860; assume a perpetual inventory system. Note: Enter debits before credits. General Journal Debit Credit Date January 08 Record entry Clear entry View general journal Journal entry worksheet 1 3 3 4 5 6 7 8 Paid January 8 invoice. Note: Enter debits before credits. General Journal Debit Credit Date January 17 Record entry Clear entry View general journal Journal entry worksheet 1 2 4 5 6 7 8 Borrowed $35,000 from National Bank for general use; signed a 12-month, 8% annual interest-bearing note for the money. Note: Enter debits before credits. Date General Journal Debit Credit April 01 Record entry Clear entry View general journal Journal entry worksheet Rented office space in one of Roger's buildings to another company and collected six months' rent in advance amounting to $6,000. Note: Enter debits before credits. General Journal Debit Credit Date August 01 Record entry Clear entry View general journal Journal entry worksheet Received a $100 deposit from a customer as a guarantee to return a trailer borrowed for 30 days. Note: Enter debits before credits. General Journal Debit Credit Date December 20 Record entry Clear entry View general journal Journal entry worksheet Record the adjusting entry for interest expense. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal
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