70.2K

Verified Solution

Link Copied!

all parts please ! struggling

Sysco Corporation, formed in 1969, is the largest global distributor of food service products, serving over 500,000 restaurants, hotels, schools, hospitals, and other institutions. The following summarized transactions are typical of those that occurred in a recent year (dollars are in millions). a. Purchased buildings costing $458 and equipment costing $258 for cash. b. Borrowed $119 from a bank, signing a short-term note. c. Provided $57,271 in service to customers during the year, with $22,558 on account and the rest received in cash. d. Paid $122,774 cash on accounts payable. e. Purchased $44,383 of inventory on account. f. Paid payroll, $7,940 during the year. g. Received $19.243 on account paid by customers. h. Purchased and used fuel of $1,650 in delivery vehicles during the year (paid for in cash). 1. Declared $798 in dividends at the end of the year to be paid the following year. J. Incurred $126 in utility usage during the year, paid $97 in cash and owed the rest on account Required: For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions.) Journal entry worksheet 8 9 10 >

Answer & Explanation Solved by verified expert

See Answer