SarkarA-ACCT 410-assignment# 7

SarkarA-ACCT 410-assignment# 7 - E11-3 Date 1 2 3 4 5 6 7 8...

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E11-3 Date Accounts Debit ($) Credit ($) 1. Salaries Expense 10,300 Cash 10,000 Accrued Salaries Payable 300 (To record the salaries expense and salaries payable) 2. Equipment 50,000 Cash 5,000 Notes Payable – Long-term 45,000 (To record the purchase of equipment) 3. Due from Other Funds 10,000 Cash 90,000 Revenues – Billings 100,000 (To record the sales and collection of cash) 4. Losses – Claims and Judgments 25,000 Claims and Judgments Liabilities 25,000 (To record the claims and judgments losses) 5. No journal entry required 6. Inventory of Supplies 41,000 Vouchers Payable 41,000 (To record the purchase of supplies) Vouchers Payable 41,000 Cash 41,000 (To record the payment of vouchers payables) 7. Supplies Expense 25,000 Inventory of Supplies 25,000 (To record the use of supplies) 8. Depreciation Expense – Equipment 16,000 Depreciation Expense – Building 25,000 Accumulated Depreciation – Equipment 16,000 Accumulated – Building 25,000 (To record the amount of depreciation of equipment and building) 9. Interest Expense 3,375 Interest Payable 3,375 (To record the interest expense) 10. Cash 10,000
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