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VIEW MONTES Current Attempt in Progress On January 1, 2020, the ledger of Accardo Company contains the following liability accounts. Accounts Payable Sales Taxes Payable
VIEW MONTES Current Attempt in Progress On January 1, 2020, the ledger of Accardo Company contains the following liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $52,000 7,700 16,000 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. 12 14 20 21 Performed services for customers who had made advance payments of $10,000. (Credit Service Revenue.) Paid state revenue department for sales taxes collected in December 2019 ($7.700). Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. Borrowed $27.000 from Girard Bank on a 3-month, 8%. $27,000 note. Sold merchandise for cash totaling $12,420, which includes 8% sales taxes. 25 I! Date Account Titles and Explanation Debit Credit 1 JUVON Question 1 of 7 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (b) Journalize the adjusting entry at January 31 for the outstanding note payable. (Hint: Use one-third of a month for the Girard Bank note.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Question 1 of 7 -/1 (b) Journalize the adjusting entry at January 31 for the outstanding note payable. (Hint: Use one-third of a month for the Girard Bank note.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (c) Question 1 of 7 Prepare the current liabilities section of the balance sheet at January 31, 2020. Assume no change in accounts payable. Accardo Company Balance Sheet (Partial) $ e Textbook and Media
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