Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.

Instructions The following equity investment transactions were completed by Romero Company during a recent year. Apr. July Sept. 10 Purchased 4,700 shares of Dixon Company for a price of $49 per share plus a brokerage commission of $120. 8 Received a quarterly dividend of $0.70 per share on the Dixon Company investment. 10 Sold 1,900 shares for a price of $41 per share less a brokerage commission of $75. Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers the nearest dollar.

Why are transactions recorded in the journal?   Group of answer choices To ensure that total debit equal total credits To help prepare the financial statements To ensure that all transactions are posted to the ledger To have a chronological record of all transactions

The General Ledger How does posting journal entries work in a computerized accounting system? What does it mean when posting is done automatically? Explain.

46) The journal entry behind the screen that QuickBooks creates when a bill is recorded using the Enter Bills window includes: A) Debit Accounts Payable, Credit Checking accountB) Debit Checking account, Credit Accounts PayableC) Debit Expense account, Credit Accounts PayableD) Debit Accounts Payable, Credit Expense account Group of answer choices A B C D

Briefly explain the difference between a sales receipt and an invoice in QuickBooks

Instructions Adele Corp., a wholesaler of music equipment, issued $31,400,000 of 20-year, 5% callable bonds on March 1, 20Y1, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions Refer to the Chart of Accounts for exact wording of account fifles 20Y1 Mar. Sept. 20Y5 Sept. Chart of Accounts Journal 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds 1 1 Called the bond issue at 103, the rate provided in the bond indenture. (Omit entry for payment of interest.) X

Blossom Company purchases various types of beach toys for sale to consumers. Listed below are the transactions for the month of June. Blossom uses a perpetual inventory system. June 1 Purchased 25 water tubes for $260 each terms n/30 FOB destination. 8 Returned 4 tubes purchased on June 1 due to defects. Received a full refund for the defective tubes. 10 Freight charges of $100 for the June 1 transaction are paid by the responsible party. 11 Made a complaint about competitive pricing. Received a $400 credit for the water tubes purchased on June 1. 15 Purchased 110 water tubes for $235 each on account, terms 2/10 n/30. 18 Made payment for the amount owing for the June 1 transaction. 20 Made payment for the amount owing for the June 15 transaction.

Wildhorse Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2025. Wildhorse had the following transactions related to notes payable Sept. 1 Sept. 30 Oct. 1 Oct. 31 Nov. 1 Nov. 30 Dec. 1 Dec. 31 Issued a $13,200 note to Pippen to purchase inventory. The 3-month note payable bears interest of 9% and is due December 1. (Wildhorse uses a perpetual inventory system) Recorded accrued interest for the Pippen note. Issued a $22,800, 9%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Recorded accrued interest for the Pippen note and the Prime Bank note. Issued a $24,000 note and paid $7,600 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 6% and matures in 12 months. Recorded accrued interest for the Pippen note, the Prime Bank note, and…

Post the unadjusted balances and adjusting entries into the appropriate t-accounts.