repare the entries to record the following independent transactions with explanations. •On January 4, 2016, received 20,000 from a customer in payment for services rendered. • Payment to X Supplier amounting to 4,000 for the office supplies purchased on January 3, 2016 • Maria Invested 60,000 on January 18, 2016 to start a barbershop in Iligan City. • On January 3, 2016 paid 10,000 rental amount for the month of January 2016. • On January 15, 2016, Peter Pawn withdrew 30,000 from his business to pay for the tuition of his son. • Collected 20,000 of the accounts receivable from malakas Company on January 17, 2016. • Paid the salary of the secretary amounting to 15,000 on January 18, 2016 • Purchased office Equipment worth 20,000 by paying 40% down payment and the balance on account. • Paid 2,000 of the accounts payable on January 28, 2016.

A man received an invoice for washing machine for $455 dated April 17, with a sales term of 2/10 EOM. How much should he pay if he pay if he pays bill on April 28?

Prisha received an invoice for $5,000 that had payment terms of 3/5 n/30. She made a partial payment of $2,000 during the discount period. a. Calculate the amount credited. Round to the nearest cent b. Calculate the balance on the invoice after the partial payment was made.

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…

Following are some transactions and events of Business Solutions. February 26 The company paid cash to Lyn Addie for eight days' work at $140 per day. March 25 The company sold merchandise with a $2,500 cost for $3,100 on credit to Wildcat Services, invoice dated March 25. Required: 1. Assume that Lyn Addie is an unmarried employee. Her $1,120 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $112. Compute her net pay for the eight days' work paid on February 26. 2. Record the journal entry to reflect the payroll payment to Lyn Addie as computed in part 1. 3. Record the journal entry to reflect the (employer) payroll tax expenses for the February 26 payroll payment. Assume Lyn Addie has not met earnings limits for FUTA and SUTA (the FUTA rate is 0.6% and the SUTA rate is 5.4% for the company). 4. Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies.…