Bu the b est for the way IN Tore the ring Own er Od 16 OLI ning ( The December a nd effort on and Export Co. GD De 5 S 11.12 59.128 All e 's h ot shows a balance of 58,487 December 31. On December 31, 2017 the n ed the following basket Real Street for December Beli Bele $4.361 Che Ceared Other Account $ 217 Dec Deposit 2.430+ Depot Deposit 1.648 Service Charge 23 304 2.735 Interest 31 300 175 $5,008 Eadeg lance 58.885 Notes: BC bank collection EFT-electronie funds transfer, NSF- onsufficient funds check SC-service charge Aditional is for the bank reconciliation follow Os November 30, 2017 bank reconciliation for the company, there were three standing checks for $217,289 for 326 and 290 for $105. There were no deposits in transitas November 10, 2017 The bank bance November 30, 2017 was $4.361. The Adjusted cash balance was 53,613, The S he was originally received from a customer, R. , in payment of s ound of 2015 The included 15 wervice charge for all of 280 e ves that chegue 306 was led to pay the wlephone bill and chee308 was med top And for collections of counts receivable 9. Which of the following statements about plan A promissory note is a written promise to pay a specified amount of money on demand. b. Promissory notes are used when individuals led or borrow money. c. The party making the promise to pay is called the payee. d. Promissory notes are used in settlement of accounts receivable. 10. All of the following are required steps in the accounting cycle, except a. journalizing, and posting entries b. preparing financial statements c. d. analyzing transactions d. preparing a work sheet IL (33") Journalize the following transactions according to the descriptions and requirements: 1. KOOL Co. purchases and installs a machine on Jan. 1, 2013 at a cost of $21,500. Straight-line depreciation is taken cach year assuming a five-year life and a salvage cost of $4,000. The machine is disposed on Jun 29, 2017. 1) Journalize the depreciation cost of the Year 2013 and 2017. 2) On Jun 29, 2017 the machine is sold for S5,500 for cash. Journalize the transaction. 2. Joumalize the following transactions for the company: a. service performed but not recorded total $560. b. Salaries earned by employees of $900 have not been recorded. 3. Accounts receivable transactions are provided for the company: Dec. 31,2016 The company estimated that 5% of its accounts receivable would become uncollectible. The balances in the Accounts Receivable account and Allowance for Doubtful Accounts were $650,000 and $2,300(debit), respectively. Mar 5, 2017 The company determined that T. Marz's $3.700 account and D. Weigh's $6,900 account were uncollectible. Jun 15, 2017 Weigh paid the amount that had been written off on March 5. Prepare the journal entries on December 31, 2016, Mar 5, 2017 and June 5, 2017
