WUIR 1 Savud Help Save & Exit neck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to ques On January 1. Year 1, the general ledger of a company includes the following account balances: Credit Debit $ 25,700 47, 400 $ 4,800 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6), due April 1, Year 2) Common Stock Retained Earnings Totals 20,600 52,000 18,000 2,100 29,100 56,000 41,000 30,700 $163, 700 $ 163,700 During January Year 1, the following transactions occur. January 2 Sold gift cards totaling $9,200. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $153,000. January 15 The company sales for the first half of the month total $141,000. All of these sales are on account. The cost of the units sold is $76,800. January 23 Receive $126,000 from customers on accounts receivable. January 25 Pay 596,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,400. January 30 The company sales for the second half of the month total $149,000. Sales include $13,000 for cash and $136.000 on account. The cost of the units sold is $82,500. January 31 Pay cash for monthly salaries, $52,600. The following information is available on January 31, 11 Jan 31 280 Interest Expense Interest Payable 280 12 Jan 31 600 Depreciation Expense Accumulated Depreciation 600 13 Jan 31 6,012 % Bad Debt Expense Allowance for Uncollectible Accounts X 6,012 14 Jan 31 13,600 Income Tax Expense Income Taxes Payable 13,600 15 Jan 31 3,600 Deferred Revenue Sales Revenue 3,600 16 Jan 31 293,600 Sales Revenue Retained Earnings 61,208 17 Jan 31 232,392 Notes Payable Cost of Goods Sold Bad Debt Expense Salaries Expense DOO 159,300 6,012 52,600 WUIR 1 Savud Help Save & Exit neck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to ques On January 1. Year 1, the general ledger of a company includes the following account balances: Credit Debit $ 25,700 47, 400 $ 4,800 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6), due April 1, Year 2) Common Stock Retained Earnings Totals 20,600 52,000 18,000 2,100 29,100 56,000 41,000 30,700 $163, 700 $ 163,700 During January Year 1, the following transactions occur. January 2 Sold gift cards totaling $9,200. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $153,000. January 15 The company sales for the first half of the month total $141,000. All of these sales are on account. The cost of the units sold is $76,800. January 23 Receive $126,000 from customers on accounts receivable. January 25 Pay 596,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,400. January 30 The company sales for the second half of the month total $149,000. Sales include $13,000 for cash and $136.000 on account. The cost of the units sold is $82,500. January 31 Pay cash for monthly salaries, $52,600. The following information is available on January 31, 11 Jan 31 280 Interest Expense Interest Payable 280 12 Jan 31 600 Depreciation Expense Accumulated Depreciation 600 13 Jan 31 6,012 % Bad Debt Expense Allowance for Uncollectible Accounts X 6,012 14 Jan 31 13,600 Income Tax Expense Income Taxes Payable 13,600 15 Jan 31 3,600 Deferred Revenue Sales Revenue 3,600 16 Jan 31 293,600 Sales Revenue Retained Earnings 61,208 17 Jan 31 232,392 Notes Payable Cost of Goods Sold Bad Debt Expense Salaries Expense DOO 159,300 6,012 52,600
