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ticos, Inc. describes itself as follows in its first footnote: tims Wholesale Corporation and its subsidiaries operate membership warchouses based on the concept that offering

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ticos, Inc. describes itself as follows in its first footnote: tims Wholesale Corporation and its subsidiaries operate membership warchouses based on the concept that offering members low prices on a limited selection of oationally-hranded and private-label products in a wide range of merchandise categorles will produce high sales volumes and rapid inventory turnover. At August 30,2022 , tims operated 838 warehouses worldwide: 578 in the United States located in 46 states, Washington, D.C, and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the U.K., 17 in Korea, 14 in Taiwan, 12 in Australla, 4 in Spain, 2 each in France and China, and t in lceland. The Company operates e-commerce websites in the U.S., Canada, Mexico, U.K, Korea, Taiwan, Jopan, and Australia. Below you will see SOME (not all!) of tims transactions in their most recent fiscal year. Provide the journal entry (accounts and amounts) needed to record each transaction. I completed the first journal entry for you to give you a sense of how your entries should look. a) Had $221.5 billion in credit sales and $1.2 ballion cash sales to customers. The products that were sold had a cost of $199.4 billion. b) Collected $221.1 billion cash from customers related to prior credit sales. c) Pald the bank $800.0 billion in cash. Of this $800.0 billion, $799.8 billion related to repayment of principal owed to the bank and the remaining $0.2 billion related to interest expense incurred during the current period. d) Purchased $203,1 billion worth of inventory on account. e) Declared and paid cash dividends of $1.5 billion. f) Received $4.2 billion cash from customers for membership fees. Of this $4.2 billion, $3.9 bililon related to current year membership and the remaining $0.3 billion related to next year's membershib. g) Purchased new manufacturing equipment costing $3.9 billion on account. h) Paid $205.4 billion cash related to accounts payable due to suppliers. i) Paid $1.1 billion cash to purchase short-term investments. f) Paid employees $5.6 billion cash in the current period for salaries and wages. Of this $5.6 billion, $0.6 billion related to prior period employee service and the remalning $5.0 billion related to current period employee service. k) Pald $0.9 billion cash to rent warehouse and store facilities. Of this $0.9 billion, $0.6 billion was for the right to use the facilities in the current period and the remaining 50.3 billion was for the right to use the spaces in a future period

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