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The following transactions apply to Ozark Sales for Year 1 The business was started when the company recelved $ 4 9 , 0 0 0
The following transactions apply to Ozark Sales for Year The business was started when the company recelved $ from the issue of common stock. Purchased equipment inventory of $ on account. Sold equipment for $ cash not including sales tax Sales tax of percent is collected when the merchandise is sold. The merchandise had a cost of $ Provided a sixmonth warranty on the equipment sold. Based on industry estimates, the warranty clalms would amount to percent of sales. Pald the sales tax to the state agency on $ of the sales. On September Year borrowed $ from the local bank. The note had a percent Interest rate and matured on March Year Pald $ for warranty repalrs during the year. Pald operating expenses of $ for the year. Pald $ of accounts payable. Recorded accrued interest on the note Issued in transaction no equired Show the effects of these transactions on the financial statements using a horizontal statements model. Use a to Indicate increase a for decrease. In the Statement of Cash Flows column, Indicate whether the Item Is an operating activity OA Investing activity A or financing activity FA Columns for events that have no effect on any of the elemepts should be left blank. ote: Not all cells will require an Input. Prey of Next
The following transactions apply to Ozark Sales for Year
The business was started when the company recelved $ from the issue of common stock.
Purchased equipment inventory of $ on account.
Sold equipment for $ cash not including sales tax Sales tax of percent is collected when the merchandise is sold. The merchandise had a cost of $
Provided a sixmonth warranty on the equipment sold. Based on industry estimates, the warranty clalms would amount to percent of sales.
Pald the sales tax to the state agency on $ of the sales.
On September Year borrowed $ from the local bank. The note had a percent Interest rate and matured on March Year
Pald $ for warranty repalrs during the year.
Pald operating expenses of $ for the year.
Pald $ of accounts payable.
Recorded accrued interest on the note Issued in transaction no
equired
Show the effects of these transactions on the financial statements using a horizontal statements model. Use a to Indicate increase a for decrease. In the Statement of Cash Flows column, Indicate whether the Item Is an operating activity OA Investing activity A or financing activity FA Columns for events that have no effect on any of the elemepts should be left blank.
ote: Not all cells will require an Input.
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