Question
The following list of accounts was drawn from the accounts of Little Grocery Supplies (CS) as of December 31, Year 1:1 Accueils receivable Allowance
The following list of accounts was drawn from the accounts of Little Grocery Supplies (CS) as of December 31, Year 1:1 Accueils receivable Allowance for doubtful accounts Tovontory Acenant peyubu $ 5,60 19,345] $ 2,075 25,700 8.975 Loon stock Retained earning 19,100 Transactions for Year 2 1. Acquired an additional $9.000 cash from the issue of corn stock 2. Purchasen $600 of inventory on accoun 3 Sold inventory that cost $60 900 for $95.800 Sales were made of account 4. The company wrote off $1,390 of uncollectible accounts 5. On September 1, LCS loaned $8000 to Eden C. The rate had an 8 percent interest and a one-year term 6. Paid $15,920 cash or operating expenses the company colected $77.000 cash from accounts receivable 8 Acesh pavent of $51,860 was paid on accounts payatile 9. The company paid a $5.900 cash dividend to the stockholds 10 Uncollectible accounts are estimated to be 1 percent of sales on account 11. Recorded the accrued interest at December 31, Year 2 (se them f Required a. Organize the transaction data in accounts under an accounting equation a. Predate an income statement a statement of changes in stockholder equity, a banco shent, and a statement of cash flows for Year 2
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