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meworkld $=674402069$&questionld$=9$& flushed $=$ true&cld $=7842255$& centerwin $=$ yes

pters $8$&$9$

Question $9,$ CompF$9-1($similar to$)$

HW Score: $64\mathrm{.}8\%,5\mathrm{.}83$ of $9$ points

Part $22$ of $57$

Points: $0\mathrm{.}1$ of $1$

nce$-$Nantucket has just purchased a franchise from Al Alton Appliance $($AAA$).$ con to view the additional information.$)$

chart of accounts for Al Alton Appliance$-$Nantucket. As a new business, all nces are $$0.$

con to view the chart of accounts.$)$

Al Alton Appliance $-$ Nantucket completed the follov of operations:

$($Click the icon fo view the transactions.$)$

More info

g$.$ Paid $$2,800$ for a two$-$year insurance policy

h$.$ Purchased appliances from AAA $($merchandise inventory$)$ on account for $$400,000.$

i$.$ Established a petty cash fund for $$280.$

j$.$ Sold appliances on account to EFG Contractors for $$200,000,$ terms $\frac{n}{30}($cost$,$ $$100,000).$

k$.$ Sold appliances to Curtis Contracting for $$160,000($cost$,$ $$85,000),$ receiving a $6$month, $12\%$ note.

I. Recorded credit card sales of $$60,000($cost$,$ $$33,000),$ net of processor fee of $1\%.$

m$.$ Received payment in full from EFG Contractors.

n$.$ Purchased appliances from AAA on account for $$690,000.$

o$.$ Made payment on account to AAA, $$250,0.$

p$.$ Sold appliances for cash to DB Home Builders for $$330,000($cost$,$ $$200,000).$

q$.$ Received payment in full on the maturity date from Curtis Contracting for the note.

r$.$ Sold appliances to Keard Contracting for $$250,000($cost$,$ $$149,000),$ receiving a $9$month, $12\%$ note.

s$.$ Made payment on account to AAA $$470,000.$

t$.$ Sold appliances on account to various businesses for $$970,000,$ terms $\frac{n}{30}($cost$,$ $$485,000).$

u$.$ Collected $$730,000$ cash on account.

v$.$ Paid cash for expenses: Salaries, $$170,000$; Utilities, $$11,500$

w$.$ Replenished the petty cash fund when the fund had $$44$ in cash and petty cash tickets for $$229$ for office supplies.

x$.$ Paid dividends, $$4,000.$

y$.$ Paid the franchise fee to AAA of $2\%$ of total sales of $$1,970,000.$

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