Sandhill Company paid $15,000 to purchase equipment on January 1, 2024. Sandhill Company has a December 31 fiscal year end and uses straight-line depreciation. The company estimates the equipment will have a 6-year useful life.

(a)

(a)

Prepare the journal entry to record the purchase of the equipment on January 1, 2024. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1/24	enter an account title for the journal entry on January 1, 2024	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 1, 2024	enter a debit amount	enter a credit amount

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(b)

The parts of this question must be completed in order. This part will be available when you complete the part above.

(b)

Prepare the adjusting entries required on December 31, 2024 and 2025. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31/24	enter an account title for the adjusting entry on December 31, 2024	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry on December 31, 2024	enter a debit amount	enter a credit amount
Dec. 31/25	enter an account title for the adjusting entry on December 31, 2025	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry on December 31, 2025	enter a debit amount	enter a credit amount

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(c1)

The parts of this question must be completed in order. This part will be available when you complete the part above.

(c1)

Show the balance sheet presentation of the equipment at December 31, 2024 and 2025.

SANDHILL COMPANY Balance Sheet (partial) choose the accounting period December 31For the Month Ended December 31For the Year Ended December 31 December 31 For the Month Ended December 31 For the Year Ended December 31
		2025		2024
select an opening section name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant, and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant, and EquipmentTotal Stockholders' Equity Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant, and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant, and Equipment Total Stockholders' Equity
enter a balance sheet item		$enter a dollar amount		$enter a dollar amount
select between addition and deduction AddLess Add Less :enter a balance sheet item		enter a dollar amount		enter a dollar amount
Carrying amount		$enter a total amount		$enter a total amount

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(c2)

The parts of this question must be completed in order. This part will be available when you complete the part above.

(c2)

Show the income statement presentation of the equipment at December 31, 2024 and 2025.

SANDHILL COMPANY Income Statement (partial) choose the accounting period December 31Month Ended December 31Year Ended December 31 December 31 Month Ended December 31 Year Ended December 31
		2025		2024
enter an income statement item		$enter a dollar amount		$enter a dollar amount

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Blossom's Graphics has a December 31 year end. Blossom's Graphics records adjusting entries on an annual basis. The following information is available.

1.		At the end of the year, the unadjusted balance in the Prepaid Insurance account was $3,010. Based on an analysis of the insurance policies, $2,830 had expired by year end.
2.		At the end of the year, the unadjusted balance in the Unearned Revenue account was $1,810. During the last week of December, $580 of the related services were performed.
3.		On July 1, 2024, Blossom signed a one-year note payable for $14,100. The loan agreement stated that interest was 4%.
4.		Depreciation for the computer and printing equipment was $1,960 for the year.
5.		At the beginning of the year, Blossom's had $980 of supplies on hand. During the year, $1,470 of supplies were purchased. A count at the end of the year indicated that $620 of supplies was left on December 31.
6.		Between December 28 and December 31 inclusive (4 days), three employees worked eight-hour shifts at $18.25 per hour. The employees will be paid for this time worked on January 10.
7.		On December 31, it was determined that $6,000 of services had been provided but the bookkeeper did not record it.

Prepare the adjusting entries based on the above information. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)

No.	Account Titles and Explanation	Debit	Credit
1.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
2.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
3.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
4.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
5.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
6.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
7.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

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Current Attempt in Progress

During 2024, Oriole Co. borrowed cash from Blue Spruce Company by issuing notes payable as follows:

1.		June 1, 2024, issued an eight-month, 3% note for $63,600. Interest and principal are payable at maturity.
2.		October 1, 2024, issued a three-month, 4% note for $33,600. Interest is payable monthly on the first day of the month. Principal is payable at maturity.

Oriole has a November 30 fiscal year end and prepares adjusting entries on an annual basis.

(a)

(a)

Prepare all necessary journal entries for Oriole to record the notes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date June 1/24Oct. 1/24Nov. 1/24Nov. 30/24Jan. 1/25Feb. 1/25Dec. 1/25 June 1/24 Oct. 1/24 Nov. 1/24 Nov. 30/24 Jan. 1/25 Feb. 1/25 Dec. 1/25	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date June 1/24Oct. 1/24Nov. 1/24Nov. 30/24Jan. 1/25Feb. 1/25Dec. 1/25 June 1/24 Oct. 1/24 Nov. 1/24 Nov. 30/24 Jan. 1/25 Feb. 1/25 Dec. 1/25	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

(b)

The parts of this question must be completed in order. This part will be available when you complete the part above.

(b)

Prepare all necessary interest payment transactions for Oriole in 2024 and 2025. Prepare separate adjusting entries for each note. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date June 1/24Oct. 1/24Nov. 1/24Nov. 30/24Dec. 1/24Jan. 1/25Feb. 1/25 June 1/24 Oct. 1/24 Nov. 1/24 Nov. 30/24 Dec. 1/24 Jan. 1/25 Feb. 1/25	enter an account title to record payment of interest expense on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to record payment of interest expense on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	(Paid interest expense on note issued Oct. 1, 2024.)
choose a transaction date June 1/24Oct. 1/24Nov. 1/24Nov. 30/24Dec. 1/24Jan. 1/25Feb. 1/25 June 1/24 Oct. 1/24 Nov. 1/24 Nov. 30/24 Dec. 1/24 Jan. 1/25 Feb. 1/25	enter an account title to accrue interest on note issued on June 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to accrue interest on note issued on June 1, 2024	enter a debit amount	enter a credit amount
	(To accrue interest on note issued June 1, 2024.)
choose a transaction date June 1/24Oct. 1/24Nov. 1/24Nov. 30/24Dec. 1/24Jan. 1/25Feb. 1/25 June 1/24 Oct. 1/24 Nov. 1/24 Nov. 30/24 Dec. 1/24 Jan. 1/25 Feb. 1/25	enter an account title to accrue interest on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to accrue interest on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	(To accrue interest on note issued Oct. 1, 2024.)
choose a transaction date June 1/24Oct. 1/24Nov. 1/24Nov. 30/24Dec. 1/24Jan. 1/25Feb. 1/25 June 1/24 Oct. 1/24 Nov. 1/24 Nov. 30/24 Dec. 1/24 Jan. 1/25 Feb. 1/25	enter an account title to record payment of interest owed on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to record payment of interest owed on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	(Pay interest owed on note issued Oct. 1, 2024.)
choose a transaction date June 1/24Oct. 1/24Nov. 1/24Nov. 30/24Dec. 1/24Jan. 1/25Feb. 1/25 June 1/24 Oct. 1/24 Nov. 1/24 Nov. 30/24 Dec. 1/24 Jan. 1/25 Feb. 1/25	enter an account title to record payment of principal and interest on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to record payment of principal and interest on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to record payment of principal and interest on note issued on October 1, 2024	enter a debit amount	enter a credit amount
	(Pay principal and interest on note issued Oct. 1, 2024.)
choose a transaction date June 1/24Oct. 1/24Nov. 1/24Nov. 30/24Dec. 1/24Jan. 1/25Feb. 1/25 June 1/24 Oct. 1/24 Nov. 1/24 Nov. 30/24 Dec. 1/24 Jan. 1/25 Feb. 1/25	enter an account title to record payment of principal and interest on note issued on June 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to record payment of principal and interest on note issued on June 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to record payment of principal and interest on note issued on June 1, 2024	enter a debit amount	enter a credit amount
	enter an account title to record payment of principal and interest on note issued on June 1, 2024	enter a debit amount	enter a credit amount
	(Pay principal and interest on note issued June 1, 2024.)

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