Transaction 5 Sales were $74,000. Cost of merchandise sold was 55% of sales. 80% of sales were on open account. [Note: Record the complete sales entry first, and the complete expense entry second. ] Account: Dollar amount: Dollar amount: Dollar amount: Dollar amount: Account: Cash Accounts Receivable Account: Inventory Prepaid Rent Account: Fixtures and Equipment Accounts Payable Account: Interest Payable Wages Payable Notes Payable Account: Paid-in Capital Retained Earnings Submit Answ Leave Blank Dollar amount: Dollar amount: Transaction 2 The company quickly acquired $36,000 in inventory, 60% of which was paid for in cash. The rest was acquired on open accounts that were payable after 30 days. Account: Dollar amount: Dollar amount: Dollar amount: Dollar amount: Account: Cash Accounts Receivable Account: Inventory Prepaid Rent Account: Fixtures and Equipment Accounts Payable Account: Interest Payable Wages Payable Notes Payable Submit Answ Paid-in Capital Retained Earnings Threaded Leave Blank Export Dollar amount: Other Views ... My_general preferences on what is marked as NEW Mark NEW posts no longer new Transaction 8 [4 points] On March 1, fixtures and equipment were purchased for $6,000 with a downpayment of $1,000 and a $5,000 note, payable in one year. Interest of 4.5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 12 years with no expected salvage value. [Note: Record the complete March 1 entry for the equipment purchase first, the complete March 31 depreciation adjusting entry second, and the complete March 31 interest adjusting entry third.] Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Transaction 9 Cash dividends totaling $3,600 were paid to stockholders on March 31. Account: Retained Earnings Dollar amount: 3600 Dollar amount: 3600 Dollar amount: Foil3=Leave%20Blank Dollar amount: Foil1=Leave%20Blank Account: Cash Accounts Receivable Account: Inventory Prepaid Rent Account: Fixtures and Equipment Accounts Payable Account: Interest Payable Wages Payable Notes Payable Submit Answ Paid-in Capital Retained Earnings e Post DisLUSIF Leave Blank Dollar amount: Foil1=Leave%20Blank 5 Previous Tries Send Feedback