The Marchetti Soup Company entered into the following transactions during the month of June (1) purchased inventory on account for $165,000 (assume Marchetti uses a perpetual inventory system); (2) paid $40,000 in salaries to employees for work performed during the month: (3) sold merchandise that cost $120,000 to credit customers for $200,000 (4) collected $180,000 in cash from credit customers; and (5) paid suppliers of inventory $145,000. Prepare journal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ook View transaction list ences Journal entry worksheet 1 2 3 4 5 6 Purchased Inventory on account for $165,000 (assume Marchetti uses a perpetual Inventory system). Note: Enter debits before credits Debit General Journal Transaction Credit Mat View transaction list Journal entry worksheet 1 2 3 4 5 6 Purchased inventory on account for $165,000 (assume Marchetti uses a perpetual inventory system). Note: Enter debits before credits es General Journal Debit Credit Transaction (1) Paid $40,000 in salaries to employees for work performed during the month. Note: Enter debits before credits. ces Transaction General Journal Debit Credit (2) Journal entry worksheet Paid suppliers of inventory $145,000. Note: Enter debits before credits. General Journal Debit Credit Transaction (5) Ch The Jamesway Corporation had the following situations on December 2021. 1. On December 10, 2021, Jamesway received a $4,000 payment from a customer for services begun on that date and which were completed by December 31, 2021. Deferred service revenue was credited. 2. On December 1, 2021, the company paid a local radio station $2,000 for 40 radio ads that were to be aired, 20 per month, throughout December and January. Prepaid advertising was debited. 3. Employee salaries for the month of December totaling $16,000 will be paid on January 7, 2022. 4. On August 31, 2021, Jamesway borrowed $60,000 from a local bank. A note was signed with principal and 8% Interest to be paid on August 31, 2022 ped Book Prepare the necessary adjusting entries at its year-end of December 31, 2021. No adjusting entries were recorded during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) erences View transaction list Journal entry worksheet > 1 2 3 4 On December 20, 2021, Jamesway received a $4,000 payment from a Journal entry worksheet On December 1, 2021, the company paid a local radio station $2,000 for 40 radio ads that were to be aired, 20 per month, throughout December and January. Prepaid advertising was debited. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Journal entry worksheet On August 31, 2021, Jamesway borrowed $60,000 from a local bank. A note was signed with principal and 8% interest to be paid on August 31, 2022. Note: Enter debits before credits. Transaction General Journal Debit Credit 4 The following account balances were taken from the 2021 adjusted trial balance of the Bowler Corporation: sales revenue, $325,000: cost of goods sold, $168,000, salaries expense, $45,000, rent expense, $20,000, depreciation expense, $30,000, and miscellaneous expense, $12,000 Prepare an income statement for 2021. BOWLER CORPORATION Income Statement For the Year Ended December 31, 2021 es 0 0 BOWLER CORPORATION Income Statement For the Year Ended December 31, 2021 0 0 0 A
