Using your Express Accounts software, execute the following steps:

1. Set up Claude Corporation, located in 128 Rescue Avenue, 13F Emerald Towers, Inhere City Phone +6913299999

2. Set up the following accounts, with the following beginning balances:

Chart of Accounts
11	Cash	$40,000		31	Common Stock	$150,000
12	Accounts Receivable	60,000		32	Additional Paid-in Capital - Common Stock	47,000
13	Merchandise Inventory	50,000		33	Retained Earnings
14	Supplies	3,000		34	Treasury Stock
15	Prepaid Insurance	4,000		41	Sales
16	Equipment	70,000		51	Cost of Goods Sold
17	Accumulated Depreciation - Equipment	0		61	Salaries and Wages
18	Truck	20,000		62	Rent Expense
19	Accumulated Depreciation -Truck	0		63	Utilities Expense
21	Notes Payable	0		64	Depreciation Expense
22	Accounts Payable	50,000		65	Miscellaneous Expense

II. Create the following cash receipts and record these in the cash receipts journal:

02/01/23	OR # 23-0001	Sold merchandise for cash to Charm, $50,000
02/02/23	OR #23-0002	Sold merchandise for cash to MNO Store, $75,000
02/03/23	OR #23-0003	Sold merchandise for cash to various customers, $360,000
02/04/23	OR #23-0004	Sold merchandise for cash to various customers, $500,000
02/05/23	OR #23-0005	Collected from Bingo Corporation, $99,000, for the sales on account made on 02/01/23

III. Create the following bills and record these in the sales journal:

02/01/23	SI #23-0001	Sold merchandise account to Bingo Corporation, $99,000
02/02/23	SI #23-0002	Sold merchandise account to Saint Philippe Cafe, $20,000
02/03/23	SI #23-0003	Sold merchandise account to Elsa Frieze, $10,000
02/04/23	SI #23-0004	Sold merchandise account to Jezreel Fox, $1,000
02/05/23	SI #23-0005	Sold merchandise account to Norman Black, $25,000

Answer rating: 100% (QA)

Answer To execute the steps using Express Accounts software follow these instructions Step 1 Set up ... View the full answer