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Unformatted text preview: 5) Jan.10.ASD sold $10,000 worth inventory for $20,000. The customer paid $10,000 in cash on delivery. 6) Jan.17.ASD paid back the supplier. 7) Jan.31. ASD recognized that ASDs workers earned $4,000 in January; the wage will be paid in February. 8) Jan.31.ASD recognized the depreciation for the equipment purchased Jan.03.ASD uses straight-line depreciation method and estimate the life of the equipment is 3 years. The equipment will have no salvage value after 3 years. 9) Jan.31. ASD adjusted the value of the insurance policy purchased on Jan. 2. 10) Jan.31. The president of the company sold 5,000 shares of his personal holdings through his stockbroker....
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- Fall '11