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Unformatted text preview: l( VZV-~' . r-ervt oWD Vv~CU d. e. <"'-~' ~ P ve rLo-t r1 ' t -"Lo , Delivery equipment that cost $20,000 was being used by the store. The equipment has an estimated useful life of five years. Assume depreciation for a full year for 20B . The asset will be depreciated evenly over its useful life. ().':'C...J 'I e 'f ,,()(j.J ( . Qp0) .... Cl flt)n '2.Sl) rt ( / , , 1 9J Rich also operates an alteration shop. The shop did some alterations for J.B. Smith. At the end ofDecember 31 , 20B, J.B. Smith had not paid for alterations completed amounting to $450. This amount has not been recorded as Revenue. Collection is expected during January 20C. . CACC£A. .,-. ~ Y-€Lc-e VQblt 0€V\J~ u.. h. Lt, ooc Only July 1, 20B, a two-year insurance premium amounting to $1,000 was paid in cash and debited in full to Prepaid Insurance. ·1ttSLN Clt u e~l ~.f r r I f\~ g. o-zoo 1 d The remaining basement space is rented to Spear Specialty for $360 p r onth payable ~ monthly. On December 31 , 20B, the rent for November and December OB was not collected nor recorded. Collection is expected January 10, 20C. aCCD-h 1-l. rPc"e1 Jc CA.-I 1-L.D \J.lp. ·c.•cv Jy f. 1~00 v--e \J.f'VhJ 4 60 4SO ,..- /1v)nLJ~ The company borrowed $10,000 on October 1, 20B. The bank charges 10% interest which is payable when the loan is due: September 30, 20C. ,vv ·,oo_o~-t q(Un~ UJl · niY~'s+ ~Vv ,...
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