Week 1 1 Issued Check No 397 for $8,100 to pay Amy Wong Real Estate for two month's worth of rent in advance 1 Obtained a loan of $48,000 from ZNZ Bank at a simple interest rate of 6 per year The first interest payment is due at the end of August 2017 and the principal of the loan is to be repaid on June 1, 2022 2 Issued Check No 398 to Office Supplies Warehouse for the purchase of $420 worth of office supplies 4 Balls 'n All paid the full amount owing on their account 4 Paid sales staff wages of $1,679 for the week up to and including yesterday, Check No 399 Note that $1,113 of this payment relates to the wages expense incurred during the last week of May 5 Paid the full amount owing to Sport Borders, Check No 400 7 Made payment of $844 to State Power for 3 months of electricity up to and including May 31, Check No 401 What are the journal entries

Question

Week 1 1 Issued Check No  397 for $8,100 to pay Amy Wong Real Estate for two month's worth of rent in advance  1 Obtained a loan of $48,000 from ZNZ Bank at a simple interest rate of 6  per year  The first interest payment is due at the end of August 2017 and the principal of the loan is to be repaid on June 1, 2022  2 Issued Check No  398 to Office Supplies Warehouse for the purchase of $420 worth of office supplies  4 Balls 'n All paid the full amount owing on their account  4 Paid sales staff wages of $1,679 for the week up to and including yesterday, Check No  399  Note that $1,113 of this payment relates to the wages expense incurred during the last week of May  5 Paid the full amount owing to Sport Borders, Check No  400  7 Made payment of $844 to State Power for 3 months of electricity up to and including May 31, Check No  401  What are the journal entries

Accepted Answer

The Answer is in the image, click to view ...

Question

Week 1 1 Issued Check No. 397 for $8,100 to pay Amy Wong Real Estate for two month's worth of rent in advance. 1 Obtained

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Business Communication Essentials

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question