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Year 1 5 - Jan Purchased equipment for $ 1 2 0 , 0 0 0 , signing a 9 month, 8 % note payable.
Year
Jan Purchased equipment for $ signing a month, note payable.
Jan Recorded the week's sales of $ on account and cash. All sales are
subject to a sales tax.
Feb Remitted last week's sales tax to the appropriate government agency.
May Borrowed $ on a year, note payable calling for annual interest beginning next May
Oct Issued $ year, semiannual bonds payable. The bonds were issued at
Oct Paid off the January note payable.
Nov Purchased inventory at a cost of $ signing a month, note payable for that amount.
Dec Accrued warranty expense is estimated at of total sales of $assume the
sales were already recorded
Dec Record accrued interest on all outstanding notes and bonds payable make a separate journal
entry for each. HINT: there are two notes and one bond for a total of entries
Year
Feb Paid off the November inventory note plus interest at maturity.
Apr Paid the interest due on the semiannual bonds.
May Paid the interest for one year on the long term note payable. April interest expense debit should equal
Total debits and credits in journal should equal
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