Question
With the Quickbooks test drive, change the company name and logo and do the following transactions: 1a. Record the purchase of $1200 computer equipment on
With the Quickbooks test drive, change the company name and logo and do the following transactions:
1a. Record the purchase of $1200 computer equipment on the first day of Month X-1 (if you do this assignment in Oct then record this transaction in Sept).
1b. Depreciate the computer monthly (straight line method, zero residual value, two years useful life).
1c. Make the remaining depreciation a recurring transaction.
2a. Record a one-year loan of $12,000 obtained on the first day of Month X-1.
2b. Record a monthly principal payment of $1,000 and interest payment $100 at the end of Month X-1.
2c. Make the payment at the end of Month X-1 and make it a recurring transaction.
3a. Use the allowance method for bad debt expense.
3b. Record $100 bad debt allowance at the end of Month X-1. Make it a recurring transaction.
3c. Write off $100 account receivable from Mark Cho.
4a. Output the journal report for Month X-1 to pdf (Reports/For My Accountant/Journal). You must show all the above transactions in the report.
4b. Save the screen shot of the recurring transaction page.
Upload the pdf/excel/picture files.
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