Visw Policias

Current Attempt in Progress

On Dacamber $31,2023,$ Sunland Linan Supplies Ltd$.$ had the following account balances:

In $2024,$ the following trarsactions occurred:

On January $1,$ paid $$5,400$ for a three$-$year fire insurance poliey.

Purchasad additional uniform inventory on cradit for $$146,000.$

Sold uniforms for $$193,800$ on account. The imentory that was sold had been purchased for $$100,000.$

Performed cleaning services for customers for $$539,500.$ One$-$quartar of this amount was paid in cash and the remaindar

was on account.

Paid $$137,100$ to supplisrs to sattle some of the accounts payable.

Raceivad $$246,000$ from customars to sattle amounts owed to the company.

Paid $$13,700$ for advartising

At the end of $2024,$ paid the interest on the bank loan for the year at the rate of $7\%,$ as well as $$30,000$ on the principal. The

ramaining principal balance is dus in thrse years.

Raceivad a $$3,000$ dividend from tha lona$-$term investment.

Paid $$16,600$ for utilitiss for the year.

Declarad and paid dividends of $$14,400$ at the and of the year.

Paid $$102,000$ for wages during the yzar. At yaar and, the company owsd another $$2,000$ to the employaes for the last

weak of wark in Dacamber.

Depreciated the aquipmant for the yaar. The company had bought its equipment at the beginning of $2021,$ and it was

expectad to last $10$ yarars and have a rasidual value of $$30,000.$

Made an adjustment for the cost of the insurance that expirad in $2024.$

$($a$)$

Prspars journal antriss to record aach of the above transactions and adiustm ants. $($List all debit entries before credit entries. Credit

account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for

the account tities and enter $0$ for the amounts.$)$