Journal entries: June 1 - borrow 10,000 from bank and sign a 5% note. The...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Journal entries: June 1 - borrow 10,000 from bank and sign a 5% note. The principal and interest are due Sept 30 June 1 - buy $3000 of equipment for cash June 5 - buy $1500 of supplies on account June 9 - perform $1200 of service...receive $300 cash and the rest is billed on acct June 12 - receive $900 from customer for painting a bedroom on June 29 June 28 - receive full payment from customer billed on June 9 June 29 - pay for supplies purchased on June 5 June 29 - paint bedroom for customer who prepaid on June 12 June 29 - receive $230 bill for June utilities.. It will pay on July 15
Adjusting Journal entries (last day of period): June 30 - Record $50 of depreciation on equipment June 30 - record interest owed on note June 30 - determine that $300 of the supplies are left
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.