Mbalamwezi Merchandising Enterprise conducted the following transactions during its first month of operations 1st Jan Issued sh500,000 of capital stock to owners 2nd Jan Obtained a loan for sh200,000 from XY Bank 3rd Jan Equipment was purchased for sh400,000 paying by cheque 4th Jan Merchandise inventory was purchased for sh250,000 on account 15th Jan Employees who earned sh5,000 this period were paid 16th Jan A utility bill for sh1,500 was received but not paid 17th Jan Merchandise inventory costing sh100,000 was sold to customers for sh175,000 on account 26th Jan Customers paid sh80,000 on their accounts 29th Jan Dividends of sh5,000 were paid       REQUIRED: i)                   Conduct the debit credit analysis for the above transactions for the month of January 2022. ii)                 Journalize the events for the month

Prepare the journal entries for the Brady Corporation in the general journal provided.                                                           Oct 1 Sold merchandise to Hannah Company, $40,000, terms FOB Shipping                   Point, 1/10, n/30. The cost of merchandise sold was $27,000.                 3 Sold merchandise for $12,000 plus 5% sales tax to retail cash customers. The cost                   of the merchandise sold was $8,000. The goods were picked up by the customers.                 6 Sold merchandise to Welker Industries, $35,000, terms FOB Destination                   Point, 2/10, n/eom. The cost of the merchandise sold was $23,000.                 8 Paid the freight invoice of $450 related to the Welker Industries sale.                 11 Received payment from Hannah Company for the October 1 invoice.                 16 Received payment from Welker Industries for the October 6 sale.                 19 Paid the sales tax to the government…

The following items were selected from among the transactions completed by Sherwood Co. during the current year: Mar. 1 Purchased merchandise on account from Kirkwood Co., $225,000, terms n/30.   31 Issued a 30-day, 8% note for $225,000 to Kirkwood Co., on account. Apr. 30 Paid Kirkwood Co. the amount owed on the note of March 31. Jun. 1 Borrowed $600,000 from Triple Creek Bank, issuing a 45-day, 6% note. Jul. 1 Purchased tools by issuing a $50,000, 60-day note to Poulin Co., which discounted the note at the rate of 6%.   16 Paid Triple Creek Bank the interest due on the note of June 1 and renewed the loan by issuing a new 30-day, 7% note for $600,000. (Journalize both the debit and credit to the notes payable account.) Aug. 15 Paid Triple Creek Bank the amount due on the note of July 16.   30 Paid Poulin Co. the amount due on the note of July 1. Dec. 1 Purchased equipment from Greenwood Co. for $280,000, paying $80,000 cash and issuing a series of ten 9% notes for…

Bridgeport Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $ 1,280 from Catlin Publishers. 3 Sold books on account to Garfunkel Bookstore for $ 1,100. The cost of the merchandise sold was $ 800. 6 Received $ 80 credit for books returned to Catlin Publishers. Paid Catlin Publishers in full. 15 Received payment in full from Garfunkel Bookstore. 17 Sold books on account to Bell Tower for $ 1,100. The cost of the merchandise sold was $ 950. Purchased books on account for $ 800 from Priceless Book Publishers. 24 Received payment in full from Bell Tower. 26 Paid Priceless Book Publishers in full. 28 Sold books on account to General Bookstore for $ 1,550. The cost of the merchandise sold was $ 800. 30 Granted General Bookstore $ 200 credit for books returned costing $ 70. Prepare a tabular summary to record the transactions for…