DebitCredit
$3,100
6,200
Accumuilated De,preciation-Equi prnent
Accounts Pay.a1ble
$18,300
21100
64,700
Cash
Notes Receivable
Owner’s Capitai
.$74,000
7,000
28,400 –
1,500
16,700
Accounts Receivable
Inventory
Prepaid Insura nee
Equipment
$74-tOOO
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Purchased me1rchandise on acoounf fro’m Varmce Co.. $12,500~terms 1/101 n/30.
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Ret•e ived $•3, 700 cash from customers in ipayr.:nent of ae;oount (no df scount allowed).
During December, the company completed the foUowing tirariisactions.
Dec. 7
12
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Sold merchandise on account $15,800~terrh:s 2/:1!0, ,n /30..The cost of the merchandise sold was $9,600.
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17
Paid salaries $2,100.
1.11,
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19
19
22
Paid salaries $2,100.
Paid Vance Co. in fullt less discount.
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Received collections in fiuiH. less discounits, friom11customeris bfUed on December 17.
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Received $2,700 cash from customers m paym,~nt ,o f a~count (nodrscountallowed).
Depreciation$21Q p-er J!IOnJh. ~-=° ~
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lnsuranteexp[red ·$ 390 ..
~ justment data:
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Debit
Credit
Journalize the December transactions. (Assume a pefpetµ~l’linv,~~torysystem.) (Creditaccount tftlesareautomatkal/y indented
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when amount ts entered~Do not Indent manually.)
Date
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