Following is a summary of aggregate transactions that occurred during 20X1: a. Purchases of merchandise inventory on open account, $550,000. b. Sales, all on credit, $810,000. c. Cost of merchandise sold to customers, $536,000. d. Disbursed $25,000 for the rent of the store. Add to Prepaid Rent. e. Disbursed $165,000 for wages through November. f. Disbursed $75,000 for miscellaneous expenses such as utilities, advertising, and legal help. (Debit Miscellaneous Expenses.) g. On July 1, 20X1, loane

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Solution Ans 1 Journal entries are given below TSUGAWA NURSERY General journal for the year ended December31 20X1 000s Ref Account title and description Debit Credit g Note Receivable 40 Cash 40 Amoun... View the full answer