Entry # Journal Entries Debit Credit 1 Inventory 2000units 4 20 40,000 accounts payable 40 000 2 accounts receivable 4 000,000 Inventory 100,000 2 40 4,000 000 I cost of goods sold 1,200,000 Inventory 1,200,000 4 cant 1,000,000 common stock 1,000,000 5 unearned revenue 100,000 revenue 100 000 & cash 12,460 accounts receivable 12,460 7 utility expense 30,000 accounts payable 30 000 administrative cost 110,000 cash 110 000 depreciation expense 240,000 accumulated depreciation 240 000 10 depreciation expense 12000 accumulated depreciation 12000 11 interest expense 50,000 accounts payable 50,000 12 tax expense accounts payable 13 cash 56,000 equipment vehicle 56 000

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