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Question: on october 10 and is date em oct 1 beginning...

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on October 10 and Is Date em Oct. 1 Beginning Inventory Ceaniity is Price 4 Purchase IS 20 10 67 91 IV. 40) Journalize the following transactions according to each 1. Now. 1, purchased supplies on account, 5600 2. Now. 3, bought a one-year insurance contract for $3,600 3. Nox. 3, returned $6,000 of the merchandise purchased on Oct. 26. (Oct 26, purchased $12,000 of merchandise on eredit terms of 3/10, n/30, FOB shipping point) 4. Nov. 6, made the corresponding payment for the purchase on Oct 26 and a $200 for freight in. S. Nov. 11, wrote off $900 owed by Moores Ltd. The 6. Nov. 20, received $2,000 from Fossil Oil that was written off on Apr. 10 cempany uses allowance method 7. Nov. 30, prepared adjusting entries: 1) insurance expense (the insurance was bought on Nov. 3) 2) the beginning balance of supplies is $300, and at the end of the Nov, the physical check showed a $400 supplies on hand, 3) accrued salaries $900; 4) depreciation for truck, which was bought on Mar. 10 for $5,800 with an expected residual value of $400 and a useful life of 6 years (the company uses straight line method). S. Nov. 30, prepared the closing entries: I) Revenues: $85,000, 2) wage expenses: $12,000, 3) utility expense: s800; 4) interest expense: $200; 5) cost of merchandise sold: $60,000 9. Dec. 5, a furniture acquired at a cost of $4,000 is fully depreciated and discarded. 10. Dec. 10, petty cash fund is increased from $200 to $300

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