Chapter 11 week 5 P11-31A

Chapter 11 week 5 P11-31A - 200,000 Sales revenue 200,000...

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P11-31A   Feb 3, 06 Inventory   40,000        Short term note payable     40,000   Feb 28, 06  Cash (20,000 x 1.05)   21,000       Sales Revenue    20,000     Sales tax payable    1,000  March 7, 06  Sales tax payable  1,000        Cash    1,000  April 30, 06  Cash  100,000        Long term note payable    100,000  Aug 3, 06  Interest expense (40,000 x .09 x 6/12)  1,800        Interest payable    1,800  Aug 3, 06  Note payable short term  40,000      Interest payable  1,800      Interest expense (40,000 x .09 x 6/12)  1,800        Cash (40,000 + (40,000 x .09))    43,600  Nov 30, 06  Inventory  7,000        Note payable short term    7,000  Dec 31, 06  Accounts recieveable
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Unformatted text preview: 200,000 Sales revenue 200,000 Dec 31, 06 Warrenty expense (200,000 x .03) 6,000 Estimated warrenty payable 6,000 Dec 31, 06 Interest expense (100,000 x .09 x 8/12) 6,000 Interest payable 6,000 Dec 31, 06 Interest expense (7,000 x .06 x 1/3) 140 Interest payable 140 Feb 28, 07 Note payable short term 7,000 Interest payable 140 Interest expense (7,000 x .06 x 2/3) 280 Cash ( 7,000 + (7,000 x .06)) 7,420 April 30, 07 Interest expense long term (100,000 x .09) 9,000 Cash 9,000...
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This note was uploaded on 06/13/2011 for the course ACC 205 taught by Professor Robertcarr during the Spring '10 term at Ashford University.

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