his information relates to Metlock Co. On April 5, purchased merchandise from Ivanhoe Company for $26,200, terms 3/10, n/30. On April 6, paid freight costs of $540 on merchandise purchased from Ivanhoe. e. . On April 7, purchased equipment on account for $30,500. . On April 8, returned $3,900 of April 5 merchandise to Ivanhoe Company. 5. On April 15, paid the amount due to Ivanhoe Company in full.

Jordan Company's annual accounting year ends on December 31. It is now December 31, 2018, and all of the 2018 entries have been made except for the following: a. The company owes interest of $730 on a bank loan. The interest will be paid when the loan is repaid on September 30, 2019. No interest has been recorded. b. On September 1, 2018, Jordan collected six months' rent of $4,980 on storage space. At that date, Jordan debited Cash and credited Deferred Revenue for $4,980. c. The company earned service revenue of $3,600 on a special job that was completed December 29, 2018. Collection will be made during January 2019. No entry has been recorded. d. On November 1, 2018, Jordan paid a one-year premium for property insurance of $4,380, for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount. e. At December 31, 2018, wages earned by employees but not yet paid totaled $1,100. The employees will be paid on the next payroll date, January 15,…

Your company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this?

The ledger of Pina Colada Corp. at the end of the current year shows Accounts Receivable $108,000; Sales Revenue $832,000; and Sales Returns and Allowances $18,100. If Pina Colada uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at (a) December 31, assuming Pina Colada determines that L. Dole's $1,000 balance is uncollectible. If Allowance for Doubtful Accounts has a credit balance of $2,000 in the trial balance, journalize the adjusting entry at (b) December 31, assuming bad debts are expected to be 11% of accounts receivable. If Allowance for Doubtful Accounts has a debit balance of $199 in the trial balance, journalize the adjusting entry (c) December 31, assuming bad debts are expected to be 8% of accounts receivable.

show the balance shet presentation of the receivable accounts at july 31.

Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). April 2 April 3 (a) April 3 (b) April 4 April 5 April 6 April 9 April 11 April 12 April 13 (a) April 13 (b) April 14 April 16 (a) April 16 (b) April 17 April 18. April 20 (a) April 20 (b) April 23 (a) April 23 (b) April 25 April 26 April 27 (a) April 27 (b) April 30 (a) April 30 (b) Purchased $14,700 of merchandise on credit from Noth Company, terms 2/10, n/60. Sold merchandise on credit to Page Alistair, Invoice Number 760, for $8,000 (cost is $7,000). Purchased $1,490 of office supplies on credit from Custer, Incorporated, terms n/30. Issued Check Number 587 to World View for advertising expense of $904. Sold merchandise on credit to Paula Kohr, Invoice Number 761, for $15,000 (cost is $13,500). Returned $90 of office supplies purchased on April 3 to Custer, Incorporated. Wiset reduces accounts payable by that amount. Purchased $12,225 of store equipment on…

On December 1, Daw Co. accepts a $28,000, 45-day, 6% note from a customer. (1) Prepare the year-end adjusting entry to record accrued interest revenue on December 31. (2) Prepare the entry required on the note's maturity date assuming it is honored. (Use 360 days a year.) View transaction list Journal entry worksheet 1 2 Record the year-end adjustment related to this note, if any. Note: Enter debits before credits. Date Dec 31 Record entry General Journal Clear entry Debit Credit View general journal

Record the following transactions for the Scott Company: Transactions: Nov. 4 Received a $6,500, 90-day, 6% note from Tim’s Co. in payment of the account. Dec. 31 Accrued interest on the Tim’s Co. note. Feb. 2 Received the amount due from Tim’s Co. on the note.   Required:   Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. Assume a 360-day year when calculating interest. CHART OF ACCOUNTS Scott Company General Ledger   ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Batson Co. 122 Accounts Receivable-Bynum Co. 123 Accounts Receivable-Calahan Inc. 124 Accounts Receivable-Dodger Co. 125 Accounts Receivable-Fronk Co. 126 Accounts Receivable-Miracle Chemical 127 Accounts Receivable-Solo Co. 128 Accounts Receivable-Tim’s Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable-Tim’s Co. 141…

Wildhorse's gross earnings for the week were $1,800, his federal income tax with-holding was $332, and his FICA total was $138.   a.) What was Wildhorse’s net pay for the week?   b.) Journalize the entry for the recording of his pay in the general journal. (Note: Use Salaries and Wages Payable: not Cash.)  Account Titles and Explanation Debit Credit enter an account title enter a debit amount  enter a credit amount  enter an account title  enter a debit amount  enter a credit amount enter an account title  enter a debit amount  enter a credit amount enter an account title  enter a debit amount  enter a credit amount c.) Record the issuing of the check for Wildhorse’s pay in the general journal.  Account Titles and Explanation Debit Credit enter an account title enter a debit amount  enter a credit amount  enter an account title  enter a debit amount  enter a credit amount

The company accrued income taxes at the end of January of $9,000. Record the adjusting entry for income taxes.