Question: answer using the format You are presented with selected accounts from the unadjusted trial balance for Snowy Inc. Snowy uses the perpetual method. Prepare journal


answer using the format
You are presented with selected accounts from the unadjusted trial balance for Snowy Inc. Snowy uses the perpetual method. Prepare journal entries in proper format for each of the following transactions. Below is a grid for journal entries, there are extra rows in the grid. Debits must come before and be on a separate line from credits. Please show your calculations. a) Paid a supplier an amount owing of $20,000, taking the full discount, terms 2/10, n/30. b) The inventory has a net realizable value of $28,000. Record the necessary adjustment. c) Paid salaries of $5,000. This amount includes the amount owing in salaries payable. d) Recorded depreciation for the year on the equipment using the straight-line method. The equipment has a useful life of five years. e) Received $6,000 from a customer for products that will be produced next month and then delivered to the customer. Accounts Debit $ Credit $ 36,000 16,000 Accounts payable Accumulated depreciation Cash Equipment Inventory Salaries payable 50,000 40,000 30,000 3,400 Item Debit account Credit account Debit $ Credit $ a) b) c) d) e)
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