Provide journal entries to record each of the following tranuctiona. For each, using the capital letter only, identity whether the transaction represents a sourcE of cash SL a use of canh (U), ar neither (NLPLEASE NOTE: All whale dollr amounts will be with "$"and commas as needed ie. $12,345). Far the journal entry, you mut enter the account names exactly an written balow and for acounts having similar accounting treatment (DR or CR), you are to record Balance Sheet accounts first, fallowed by Income Statement account.CanhTruckLandLom on Sale of LandDividendsGain on Sale of LandAccounts ReceivableCommon SockNote PayalaleDeclared and paid to sharcholders, a dividend of $24,000.DRTrarnaction - Source of cash SL Use of cash (UL or Neither (N).haund comman stock at par value for $12,000DRTrarnaction - Source of cash SL Use of cash (UL or Neither (N.Sald a tract of land that had coat $10,000, for $16.000.DRDR CTrarnaction - Source of cash (SL Use of cash (U or Neither (N)Purchaed a cnmpany truck, with a note payable of $38,000.DRTrarnaction - Source of cash (Sl Use of cash (U, or Neither (N)Collected Sa000 from cutomer acounts receivalble.DRTrarnaction - Source of cash (SL Use of cash (U or Neither (N)

Gain on sale of land = Sale value - Cost = $ 16000 - $ 10000 = $ 6000

Prvide jnal entries to reord ech of the follewing tran os. For each ninthe captetter onty, identely whether the transaction represents a sure of cash Sa u of cnh (, ar meither (N PLEASE NOTE All whale dellar munts will bewithsand commasneded a S12345. For the joumal entry, yeu must enter the sunt names ctly written bekew nd for sunts having simlar secounting trestment (DR or CR, you ae te recend Blance Sheet scounts first, fellowed by Income Statement secounts Ch Irack Land Lom on Sale f Land Dividnd Gain on Sale of Land Accounts eceivable Common Stock Note Payale Declared ard paid to hareholdersa dividend of $24000. DR Tramaton- Seare of cash S Ue of cah (U or Nither N hnd common stock at pr val for S12000 DR Tramaton- Seare of cash S Ue of cah (U or Nither N Sald a tract of land that had cont St0.000, for $16.0o0. DR DRor C Tramaton- Seare of cash S Ue of cah (U or Nither N Parthaeda company trk, with a rete pyable of S3R000 DR Trarnaton Seree of cash S Uve of cah (U or Nither N Calected S000 rom tomer unts reoivae DR Tramaton- Seare of cash S Ue of cah (U or Nither N

Prvide jnal entries to reord ech of the follewing tran os. For each ninthe captetter onty, identely whether the transaction represents a sure of cash Sa u of cnh (, ar meither (N PLEASE NOTE All whale dellar munts will bewithsand commasneded a S12345. For the joumal entry, yeu must enter the sunt names ctly written bekew nd for sunts having simlar secounting trestment (DR or CR, you ae te recend Blance Sheet scounts first, fellowed by Income Statement secounts Ch Irack Land Lom on Sale f Land Dividnd Gain on Sale of Land Accounts eceivable Common Stock Note Payale Declared ard paid to hareholdersa dividend of $24000. DR Tramaton- Seare of cash S Ue of cah (U or Nither N hnd common stock at pr val for S12000 DR Tramaton- Seare of cash S Ue of cah (U or Nither N Sald a tract of land that had cont St0.000, for $16.0o0. DR DRor C Tramaton- Seare of cash S Ue of cah (U or Nither N Parthaeda company trk, with a rete pyable of S3R000 DR Trarnaton Seree of cash S Uve of cah (U or Nither N Calected S000 rom tomer unts reoivae DR Tramaton- Seare of cash S Ue of cah (U or Nither N

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Kindly put this in a general ledger sheet. Thankyou.
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