Problem 11-01A a-c (Part Level Submission) (Video) On January 1, 2020, the ledger of Coronado...
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Problem 11-01A a-c (Part Level Submission) (Video) On January 1, 2020, the ledger of Coronado Company contains the following liability accounts. Accounts Payable $51,000 Sales Taxes Payable 7,700 Unearned Service Revenue 16,500 During January, the following selected transactions occurred.
Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes.
12 Performed services for customers who had made advance payments of $11,000. (Credit Service Revenue.)
14 Paid state revenue department for sales taxes collected in December 2019 ($7,700).
20 Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty.
21 Borrowed $27,000 from Girard Bank on a 3-month, 8%, $27,000 note.
25 Sold merchandise for cash totaling $9,504, which includes 8% sales taxes.
Journalize the January Transactions
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You can see the logs in the Dashboard.