$15,000 cash was paid for land. V Purchased another truck with $23,000 cash. Purchased $27,000 supplies on account. V f. С. d. е. On 3/1/2020, $30,000 cash was borrowed on a two-year 8% note payable. V g. ncurred $110,000 in miscellaneous expenses for 2020, $20,000 on credit and the rest paid in cash. in in h. Collected $34,000 owned on account. i. Paid $26,000 towards accounts payable. j. Signed a $2,000 one-year service contract for work to begin on 2/1/2021. k. Declared and paid $20,000 in cash dividends.
$15,000 cash was paid for land. V Purchased another truck with $23,000 cash. Purchased $27,000 supplies on account. V f. С. d. е. On 3/1/2020, $30,000 cash was borrowed on a two-year 8% note payable. V g. ncurred $110,000 in miscellaneous expenses for 2020, $20,000 on credit and the rest paid in cash. in in h. Collected $34,000 owned on account. i. Paid $26,000 towards accounts payable. j. Signed a $2,000 one-year service contract for work to begin on 2/1/2021. k. Declared and paid $20,000 in cash dividends.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:$15,000 cash was paid for land. V
Purchased another truck with $23,000 cash.
Purchased $27,000 supplies on account. V
f.
С.
d.
е.
On 3/1/2020, $30,000 cash was borrowed on a two-year 8% note payable. V
g.
ncurred $110,000 in miscellaneous expenses for 2020, $20,000 on credit and the rest paid in
cash.
in
in
h. Collected $34,000 owned on account.
i.
Paid $26,000 towards accounts payable.
j.
Signed a $2,000 one-year service contract for work to begin on 2/1/2021.
k.
Declared and paid $20,000 in cash dividends.
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