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Record journal entries for the following transactions for ABC Inc. during September 2008 (no need to provide dates and explanations):

1. Sales on account during September were $40,000.

2. $34,000 was collected from customers on account during September.

3. Cash sales were $50,000 during September.

4. $40,000 of merchandise was purchased on account during September.

5. The cost of merchandise sold during September was $60,000.

6. $38,000 was paid to supplies on account during September.

7. $4,000 was paid during September for the month's advertising costs.

8. $11,000 was paid for wages during September.

9. Miscellaneous expenses of $10,000 were paid in cash during September.

10. Amortization on the equipment for Sep 2008 was $500.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797090

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