Record the following transactions using journal notation or horizontal method, You must show the affected accounts'...
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Record the following transactions using journal notation or horizontal method, You must show the affected accounts' names, amounts, and direction (up/down, +/-), Please label your items so I can follow them, Make sure to do any necessary End of Year Adjustments, And, don't forget to label your Debits and Credits... --Dec 1- Jog invests $50,000 into his corporation. -Dec 1 Paid 6 month Insurance bill of $900. --Dec 1- Purchased a delivery truck for $60,000 that he plans to own for 5 years and sell for $5,000. -Dec 4-Purchased inventory of $3,200 and computers worth $5,200 on account. -Dec 8-Billed client for the $4,200 catering job just completed. -Dec15-Received payment from customer billed earlier. Dec21-Received and paid electric bill for $180. This is a typical bill and covers service for 11-21 through 12-20. -Dec22-Paid for inventory purchased earlier. -Dec28-Received $2,500 for catering a party. --Dec29-Paid workers $2,000. -Dec 30-Declared and paid dividends of $4,000. -Dec 31-Counted Inventory and found $1,100 still on hand. Record the following transactions using journal notation or horizontal method, You must show the affected accounts' names, amounts, and direction (up/down, +/-), Please label your items so I can follow them, Make sure to do any necessary End of Year Adjustments, And, don't forget to label your Debits and Credits... --Dec 1- Jog invests $50,000 into his corporation. -Dec 1 Paid 6 month Insurance bill of $900. --Dec 1- Purchased a delivery truck for $60,000 that he plans to own for 5 years and sell for $5,000. -Dec 4-Purchased inventory of $3,200 and computers worth $5,200 on account. -Dec 8-Billed client for the $4,200 catering job just completed. -Dec15-Received payment from customer billed earlier. Dec21-Received and paid electric bill for $180. This is a typical bill and covers service for 11-21 through 12-20. -Dec22-Paid for inventory purchased earlier. -Dec28-Received $2,500 for catering a party. --Dec29-Paid workers $2,000. -Dec 30-Declared and paid dividends of $4,000. -Dec 31-Counted Inventory and found $1,100 still on hand.
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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