Question: Part I - Transactions Record the transactions below that took place in January. a. Collected $24.000 from customers b. Sold appliances for $60,000 cash and

Part I - Transactions Record the transactions below that took place in January. a. Collected $24.000 from customers b. Sold appliances for $60,000 cash and $45,000 on account. Cost of appliances sold was $50,000 c. Replenished inventory for $64,000 on credit d. Paid $19,000 to suppliers (from transaction c) e. Managers earned salary of $33.000 of which $30,000 was paid f. Paid $7,000 at end of the month for January rent g. Accrued $1.000 of interest without any payment Trans. Cash Asset Balance Sheet Income Statement Liabil Contrib. Earned Rev Expen Net + ities Capital Capital enues ses Income Noncash Assets + + a. + + + - II b. + + + 11 c. + + + NIN = d. + + + = e. + + + + = f. + + + II + + +
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
