Please answer the questions clearly and easy for me to read and understand, thank you.

It needs to be recorded in the General Journal format. From January 2019 to May 2020.

It must be labelled from Date, Accounts and Debit and Credit.

Transcribed Image Text:

2019 Jan. 3 Purchased a machine at a cost of $370,000 plus 5 percent GST, signing a 6 percent, 180-day note payable for that amount. 29 Recorded the month's sales of $1,570,000 (excludes PST and GST), 90 percent on credit and 10 percent for cash. Sales amounts are subject to 8 percent PST and 5 percent GST. Feb. 5 Paid January's PST and GST to the appropriate authorities. 28 Borrowed $4,000,000 on a 4 percent note payable that calls for annual instalment payments of $400,000 principal plus interest. Jul. 3 Paid the six-month, 6 percent note at maturity. Nov. 30 Purchased inventory for $270,000 plus GST, signing a six-month, 6 percent note payable. Dec. 31 Accrued warranty expense, which is estimated at 3 percent of annual sales of $9,400,000. 31 Accrued interest on all outstanding notes payable. Make a separate interest accrual entry for each note payable. 2020 Feb. 28 Paid the first instalment and interest for one year on the long-term note payable. 31 Paid off the 6 percent note plus interest at maturity. May 2019 Jan. 3 Purchased a machine at a cost of $370,000 plus 5 percent GST, signing a 6 percent, 180-day note payable for that amount. 29 Recorded the month's sales of $1,570,000 (excludes PST and GST), 90 percent on credit and 10 percent for cash. Sales amounts are subject to 8 percent PST and 5 percent GST. Feb. 5 Paid January's PST and GST to the appropriate authorities. 28 Borrowed $4,000,000 on a 4 percent note payable that calls for annual instalment payments of $400,000 principal plus interest. Jul. 3 Paid the six-month, 6 percent note at maturity. Nov. 30 Purchased inventory for $270,000 plus GST, signing a six-month, 6 percent note payable. Dec. 31 Accrued warranty expense, which is estimated at 3 percent of annual sales of $9,400,000. 31 Accrued interest on all outstanding notes payable. Make a separate interest accrual entry for each note payable. 2020 Feb. 28 Paid the first instalment and interest for one year on the long-term note payable. 31 Paid off the 6 percent note plus interest at maturity. May

Answer rating: 100% (QA)

1 Date 2 2019 3 Jan 3 4 5 7 Jan 29 8 9 10 11 12 13 Feb 5 14 1... View the full answer