19. On August 10, receive half of the payment from Lachey. 20. On August 14, write off $1,300 bad debt for one account, Tooket. 21. Pay utilities expense, $10,902. 22. On August 1, Lachey pays off its balance. 23. On September 1, pay cash $7,500 to Farmington for merchandise purchased last year. 24. On October 1, pay off notes payable $110,000 and associated accrued interest $6,000, of which $1,500 was shown on the balance sheet. 25. Over the year, sales and office employees earned $45,500 in salaries and wages, of which $1,500 was still payable at the end of year. 26. An unpaid utilities bill (December, $1,250) is due on January 10 next year. 1. Prepare journal entries for each event. 2. Prepare adjusting entries. 3. Prepare adjusted trial balance. 4. Prepare Income Statement, Retained Earnings Statement, Balance Sheet, and Statement of Cash Flows.,Thank you i just notice there i did not put number 5.5. Prepare closing entries. And On August 1, sell merchandise to Lachey on account $80,000, this is the starting amount.
Paper#4466 | Written in 18-Jul-2015Price : $25