Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 8.00

transactions in Denver

Requirement
1. Journalize the transactions in Denver's general journal.

2010    
Jan 9 Purchased computer equipment at a cost of $7,000, signing a six-month, 8% note payable for that amount.
  29 Recorded the week's sales of $62,000, three-fourths on credit, and one-fourth for cash. Sales amounts are subject to a 6% state sales tax.
Feb 5 Sent the last week's sales tax to the state.
  28 Borrowed $202,000 on a four-year, 9% note payable that calls for $50,500 annual installment payments plus interest. Record the short-term and long-term portions of the note payable in two separate accounts.
July 9 Paid the six-month, 8% note, plus interest, at maturity.
Aug 31 Purchased inventory for $6,000, signing a six-month, 10% note payable.
Dec 31 Accrued warranty expense, which is estimated at 3% of sales of $605,000.
  31 Accrued interest on all outstanding notes payable. Make a separate interest accrual for each note payable.
2011    
Feb 28 Paid the first installment and interest for one year on the four-year note payable.
  28

Paid off the 10% note plus interest at maturity.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 09:08 PM My Price 8.00

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