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Anderson Company had the following transactions during January 2020 and uses a perpetual inventory method Anderson uses the Allowance for Doulstful Acco adjusting entries are

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Anderson Company had the following transactions during January 2020 and uses a perpetual inventory method Anderson uses the Allowance for Doulstful Acco adjusting entries are recorded on January 31 Jan 1 Signed a 540,000,8 month, 5% interest bearing note payable to Brank Bank & Trust and receives $10,000 in cash Jan 3 Performed services for customers who had made advanced payments of $6,500 Jan 4 Sold inventory for $19,500 on account to Ashley Company. The inventory cost $18,000. The terms of the sale are 1/10, 1/30 Jan 7 Purchased inventory for $10,500 on account from Meg Company. The terms of the purchase are 3/10,n/30 Jan 8 Purchased equipment from Drome Inc paying 510,000 in cash and signing an 8%, 4-month $20,000 note Jan 12 Sold inventory for $18,000 for cash that cost $16,000 Jan 13 Received full payment from Ashley for the sale on January 4 Jan 14 Wrote of an uncolectible account in the amount of $4,000 Jan 16 Issued an 8%, 6-month $14.000 note to Dally Company in payment of account Jan 17 Pald full balance for the January 7th purchase Jan 19 Recovered $1,000 from a previous uncollectible account Jan 21 Sold inventory for $3,500 to Cooper The inventory cost $1,400 Cooper paid with his Bank of America credit card. The bank charges a 1% service charan Anderson Company had the following transactions during January 2020 and uses a perpetual inventory method Anderson uses the Allowance for Doulstful Acco adjusting entries are recorded on January 31 Jan 1 Signed a 540,000,8 month, 5% interest bearing note payable to Brank Bank & Trust and receives $10,000 in cash Jan 3 Performed services for customers who had made advanced payments of $6,500 Jan 4 Sold inventory for $19,500 on account to Ashley Company. The inventory cost $18,000. The terms of the sale are 1/10, 1/30 Jan 7 Purchased inventory for $10,500 on account from Meg Company. The terms of the purchase are 3/10,n/30 Jan 8 Purchased equipment from Drome Inc paying 510,000 in cash and signing an 8%, 4-month $20,000 note Jan 12 Sold inventory for $18,000 for cash that cost $16,000 Jan 13 Received full payment from Ashley for the sale on January 4 Jan 14 Wrote of an uncolectible account in the amount of $4,000 Jan 16 Issued an 8%, 6-month $14.000 note to Dally Company in payment of account Jan 17 Pald full balance for the January 7th purchase Jan 19 Recovered $1,000 from a previous uncollectible account Jan 21 Sold inventory for $3,500 to Cooper The inventory cost $1,400 Cooper paid with his Bank of America credit card. The bank charges a 1% service charan

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