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Need help with general journal entries in financial accounting? Accounting period July 1 to the 31, 2013

1. Paid $3,000 for six month rent

2. Purchased ne equipment that cost $40,000 by signing a 3 year, 6% note payable. The note and interest will be paid in July 2016.

3. Paid $3,500 for wages due employer, of which 790 is fir the month of July.

4. Sold merchandise for cash, 10,000. The cost of merchandise sold was $5,000.

5. Purchased merchandise on account from EX, 15,000, terms 2/10, n/30.

6. Returned merchandise to EX company $500.

7. Sold merchandise in account to PC $43,400, terms 3/15, n/30. Cost of merchandise was $20,000.

8. Paid $3,500 for wages due employer.

9. Paid EX company.

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92087113

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