EB1. LO 16.1 Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). A. Paid $22,000 cash on bonds payable. B. Collected $12,600 cash for a note receivable. C. Declared a dividend to shareholders for $16,000, to be paid in the future. D. Paid $26,500 to suppliers for purchases on account. E. Purchased treasury stock for $18,000 cash.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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EB1. LO 16.1 Provide journal entries to record each of the following transactions. For each, identify whether the transaction
represents a source of cash (S), a use of cash (U), or neither (N).
A. Paid $22,000 cash on bonds payable.
B. Collected $12,600 cash for a note receivable.
C. Declared a dividend to shareholders for $16,000, to be paid in the future.
D. Paid $26,500 to suppliers for purchases on account.
E. Purchased treasury stock for $18,000 cash.
Transcribed Image Text:EB1. LO 16.1 Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). A. Paid $22,000 cash on bonds payable. B. Collected $12,600 cash for a note receivable. C. Declared a dividend to shareholders for $16,000, to be paid in the future. D. Paid $26,500 to suppliers for purchases on account. E. Purchased treasury stock for $18,000 cash.
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