90000 30000 7 cost of goods sold inventory to record

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Cost of Goods Sold Inventory To record cost of 1 thing. 80,000 10,000 10,000 60,000 8 Inventory Cash Accounts Payable To record purchase of 1 thing. 17 Depreciation Expense Accumulated Depreciation-Equipment To record depreciation expense. 9 Allowance for Doubrful Accounts Accounts Receivable To record write off of bad debts. 10 Cash Accounts Receivable Sales To record sale of 1 thing. 120,000 60,000 20,000 60,000 500 500 120,000 40,000 160,000 11 Cost of Goods Sold Inventory To record of cost of 1 thing. 80,000 12 Equipment Cash To record purchase of piece of equipment. 10,000 80,000 10,000 18 Bad Debt Expense Allowance for Doubtful Accounts To adjust ADA to 2% of ending Accts. Receivable. 19 Tax Expense Cash Taxes Payable To record 20x5 taxes. 20 Sales Cost of Goods Sold Salary Expense Rent Expense Interest Expense Depreciation Expense Bad Debt Expense Tax Expense Retained Earnings To close books for 20x5. 890 890 30,213 15,107 15,107 280,0...
View Full Document

Ask a homework question - tutors are online