Question: different figures read through carefully. Problem 8-73A (Algorithmic) Payable Transactions Richmond Company engaged in the folowing transactions during 2019: a. Purchased $32,000 of supplies from


Problem 8-73A (Algorithmic) Payable Transactions Richmond Company engaged in the folowing transactions during 2019: a. Purchased $32,000 of supplies from ABC Supplies on February 16. Amount due in full on March 31. 6. Paid for 25% of the purchased merchandise (transaction a) on February 26 . c. On March 31 negotiated a payment extension with ABC for the remainder of the balance from the february 16 purchase by signing a 1 -year, 10% note. d. Borrowed $300,000 on a 10 -month, 8% interest-bearing note on April 30 . c. Purchased $78,000 of merchandise on June 4. Amount due in full on June 30. f. Paid for the purchased merchandise (transaction e) on June 24. 9. Received from Haywood, Inc, on Auqust 19 a $17,000 deposit against a total selling price of $170,000 for services to be performed for Haywood. h. Paid quarterly instalments If Social Security and Medicare and individual income tax withholdings, as shown below, on October 15 . The Social Secunty and Medic were previously recorded as expenses during the quarter and the amounts paid represent both the employee and employer shares (50\% each): Required: 1. Prepare fournal entries for these transactions. If an amount box does not require an entry, leave it blank. a. Feb. 16 (Record purchase of supplies on account) b. Feb, 26 (Record partial flayment of supplier) c. Mar. 31 (Record issuance of note to cover unpaid portion of account payable) d. Apr. 30 (Record issuance of note) e. June 4 (Record purchase of inventory on account) f. June 24 (Record payment of supplier) (Record accrued interest)
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