Question: Accrual Transaction Homework Record the following transactions using journal notation.. You must show the affected accounts' names, amounts, and direction (up/down, +/)i.. Your fiscal year
Accrual Transaction Homework Record the following transactions using journal notation.. You must show the affected accounts' names, amounts, and direction (up/down, +/)i.. Your fiscal year end is Dec 31 so please give any needed year end adjusting entries. Please label your items so I can follow them. Also, please label each item as a Debit or Credit. -Dec 1 - Paid 6 month insurance bill of $2,400. - Dec 1 - Paid 1 year copier lease for $900. - Dec 1 - Sold some stock for $30.000 -Dec 2 - Purchased a delivery truek for $42,000 that he plans to own for 6 years and sell for $6,000. -Dee 4 - Purchased supplies of $600 and furniture worth $9,800 on account. - Dec 7 - Paid $15,000 to acquire land for a future office. - Dee10 - Defended client in court and billed client for $1,600. -Deell - Received and paid Heat bill for $4801..This is a typical bill and covers service for 11-11 through 12-10. -Dec14 - Paid for supplies purchased earlier. - Deel7 - Received payment from customer billed carlicr. - Dec21 - Received and paid electric bill for $180t.Thisisatypicalbilland covers service for 11-21 through 1220. -Dec23 - Received $2,000 from a customer as a deposit/retainer for a court case that is scheduled for Jan 23. -Dec28 - Received $1,700 for helping customer prepare will. -Dec29 - Paid secretary $1,100. Dec30 - Declared and paid dividends of $1,000
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