Listed below is information related to several entry situations. Assume that the accounting year ends on

Asked by bizgrad
Dated: 12th Nov'17 09:09 AM
Bounty offered: $4.00
Listed below is information related to several entry situations. Assume that the accounting year ends on December 31.



The company acquired land for $100,000 issuing a note payable.

Equipment is acquired for $30,000 cash.

Memberships were sold for $20,000, accepting accounts receivables.

Salaries of $15,000 were paid in cash.

Utilities were paid in cash in the amount of $5,000.



Record these entries using T-accounts. Use the number of the transaction in lieu of a date for identification purposes.
Listed below is information related to several entry situations. Assume that the accounting year ends on
Answered by bizgrad
Expert Rating: 2370 Ratings
Dated: 12th Nov'17 09:09 AM
5 words and 1 attachment(s).
Tutorial Rating: Not Rated
Sold 0 times.
(preview of the tutorial; some sections have been intentionally blurred)
…to…