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Wolverine World Wide, Inc., manufactures footwear and leather accessories for military, work, sport, and casual purposes under a variety of brand names, including Steve Madden,
Wolverine World Wide, Inc., manufactures footwear and leather accessories for military, work, sport, and casual purposes under a variety of brand names, including Steve Madden, Hush Puppies, and Caterpillar. The following transactions occurred during the month of March, 2020. Please prepare journal entries for each of the items 1 - 7, and a trial balance. You may find it helpful to use T-accounts. They began the month with $40,000 in cash, and $40,000 in Common Stock 1. Made cash sales of $37,000 2. Purchased $3,000 of supplies on credit 3. Purchased $18,600 in equipment, paying cash 4. Paid $8,700 in wages, paying cash 5. Paid $12,000 cash for rent covering April, May and June 6. Sold $10,000 of boots to the U.S. Forest Service, all on credit. It is expected that the bill will be paid on May 4. 7. Declared and paid $3,000 in cash dividends Required: A. In good form, prepare the journal entries necessary to record those transactions. B. Post those Journal Entries to T-accounts C. Prepare an unadjusted Trial Balance
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