Complete T accounts and a trial balance for the following journal entries ...

70.2K

Verified Solution

Question

Accounting

Complete T accounts and a trial balance for the following journal entries

image

1/3/20 Interest payable $ 2,100
1/3/20 Payment towards longterm debt $ 4,000
1/3/20 Cash $ 2,100
1/3/20 Cash $ 4,000
1/2/20 Salaries Payable $ 6,600
1/2/20 Cash $ 6,600
1/3/20 Purchased Inventory $ 23,000
1/3/20 ACCOUNTS PAYABLE $ 23,000
1/4/20 Shipping payment $ 250
1/4/20 Cash $ 250
1/6/20 Supplies purchase $ 700
1/6/20 ACCOUNTS PAYABLE $ 700
1/9/20 Revenue unearned $ 3,000
1/9/20 Cash $ 3,000
1/10/20 Sales revenue $ 63,000
1/10/20 Units sold (accounts receivables) $ 63,000
1/10/20 COGS $ 28
1/10/20 Inventory $ 27,800
1/15/20 Inventory $ 32,900
1/15/20 ACCOUNTS PAYABLE $ 32,900
1/20/20 ACCOUNTS PAYABLE $ 41,600
1/20/20 cash $ 41,600
1/21/20 cash $ 121,350
1/21/20 accounts receivabkes $ 121,350
1/22/20 Doubtful accounts allowance $ 815
1/22/20 accounts receivabkes $ 815
1/25/20 accounts receivables-units sold 200 $ 21,000
1/25/20 Sales revenue $ 21,000
1/25/20 COGS $ 9,400
1/25/20 Inventory $ 9,400
1/26/20 salary $ 31,000
1/26/20 cash $ 31,000
1/26/20 utilities $ 7,200
1/26/20 Payable $ 7,200
1/31/20 unearned revenue $ 10,000
1/31/20 Sales revenue $ 10,000
1/31/20 Supplies expense $ 1,085
1/31/20 supplies $ 1,085
1/31/20 January earned employee salary being paid in Feb $ 4,700
1/31/20 ACCOUNTS PAYABLE $ 4,700
1/31/20 Long term debt interest $ 29,052
1/31/20 ACCOUNTS PAYABLE $ 29,052
1/31/20 Prepaid insurance $ 1,600
1/31/20 ACCOUNTS PAYABLE $ 1,600
1/31/20 bad debts allowance $ 9,515
1/31/20 accounts receivabkes $ 9,515
1/31/30 damaged inventory $ 2,275
1/31/20 accounts receivabkes $ 2,275

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students