Analysis of Journal Entries For each of the following journal entries, write a description of the...

  

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Analysis of Journal Entries For each of the following journal entries, write a description of the underlying event. 1. Cash.. 300 300 Accounts Receivable. 2 Accounts Payable.. Inventory 3. Cash.. Loan Payable. 4. Cash. Accounts Receivable Sales. Cost of Goods Sold. 400 400 5,000 5,000 200 700 900 550 550 Inventory. 200 5. Prepaid Insurance Cash. 6. Dividends 200 250 250 Dividends Payable 7. Retained Earnings. 1,000 .... 1,000 .... Dividends. 50 8. Insurance Expense.. Prepaid Insurance. 9. Inventory.. Cash Accounts Payable. 10. Allowance for Bad Debts.. Accounts Receivable. 50 600 150 450 46 46 125 11. Interest Expense. Interest Payable. 12 Wages Payable.. Wages Expense.. Cash 13. Accounts Payable. Cash Purchase Discounts 125 130 75 205 500 490 10 Analysis of Journal Entries For each of the following journal entries, write a description of the underlying event. 1. Cash.. 300 300 Accounts Receivable. 2 Accounts Payable.. Inventory 3. Cash.. Loan Payable. 4. Cash. Accounts Receivable Sales. Cost of Goods Sold. 400 400 5,000 5,000 200 700 900 550 550 Inventory. 200 5. Prepaid Insurance Cash. 6. Dividends 200 250 250 Dividends Payable 7. Retained Earnings. 1,000 .... 1,000 .... Dividends. 50 8. Insurance Expense.. Prepaid Insurance. 9. Inventory.. Cash Accounts Payable. 10. Allowance for Bad Debts.. Accounts Receivable. 50 600 150 450 46 46 125 11. Interest Expense. Interest Payable. 12 Wages Payable.. Wages Expense.. Cash 13. Accounts Payable. Cash Purchase Discounts 125 130 75 205 500 490 10

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Journal A book of original entry used to record the economic event and ... View the full answer