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Write journal entries in proper form for the following economic transactions of Tommy Mac, Inc. Print out and return your practice test on these
Write journal entries in proper form for the following economic transactions of Tommy Mac, Inc. Print out and return your practice test on these forms. 1. Issued $4,500,000 of Bonds at 97.8. 2. The Company CFO, Miss Thomas, has prepared a bank reconciliation, the corporate checking bank account is to be adjusted to reflect $15 of interest income and $10 of bank fees. 3. After two weeks the petty cash fund, which was established previously for $250, shows two $10 dollar bills, three $1 bills, and $224 of miscellaneous receipts for various minor expenses in the box. Replenish the petty cash fund. 4. Sold used equipment on account for $10,450. The equipment had an original cost of $45,000, salvage value of $2,000, and accumulated depreciation at time of the sale of $34,670. 5. Issued 25,100 shares of $0.15 par value Common Stock for $24.60 per share.
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