Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following transactions of New York Pharmacies occurred during 2017 and 2018 (Click the icon to view the transactions) Journalize the transactions in New York's

image text in transcribed
The following transactions of New York Pharmacies occurred during 2017 and 2018 (Click the icon to view the transactions) Journalize the transactions in New York's general journal. Explanations are not required Round to the nearest dollar (Record debits first, then credits. Exclude exp Short-Term Notes Payable 14.000 Jan 29, 2017 Recorded the week's sales of $62,000 three-fourths on credit and one-fourth for Lash Sales amounts are subject to a 6% state sales tax Igoore.co Accounts Debit Credit Jan 29 Date More info 1 Jan 9, 2017 Jan. 29, 2017 Feb. 5, 2017 Jul 9, 2017 Purchased computer equipment at a cost of $14.000, Signing a sk-month 7% note payable for that amount Recorded the week's sales of $62,000, three-fourth on credit and one fourth for canh Sales amounts are subject to a 6% state sales tax ignore cost of goods sold Sent the last week's sales tax to the state Paid the six month 7% note, plus interest, at maturity Purchased merchandise Inventory for $3,000, signing a the month, 10% note payable. The company uses the perpetual inventory system Accrued warranty expense, which is estimated at 3% of sales of $610.000 Accrued interest on all outstanding notes payable Paid the sb-month 10% note, plus interest at maturity Aug. 31, 2017 Dec 31, 2017 Dec 31, 2017 Feb. 28, 2018 perpetual inventory system

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting For Undergraduates

Authors: James Wallace, Scott Hobson, Theodore Christensen

2nd Edition

1618533096, 9781618533098

More Books

Students also viewed these Accounting questions

Question

=+5. What is your impression of the Carbon Principles?

Answered: 1 week ago