Nov. 2 Remington received $2,500 for November phone service from Enrico Company. 6 Remington purchased $4,800 of supplies from Technology Associates on account. 10 Remington paid $5,200 to its hourly employees for their weekly wages. 15 Remington paid $ 4,800 to Technology Associates in full settlement of its account payable. 28 Remington paid $ 2,200 for utilities used during November. 30 Remington received a bill from Monticello Construction for $1,220 for repairs made to Remington's loading dock on November 15. Remington plans to pay the bill in early December. Dec. 10 Remington paid $1,220 to Monticello Construction to settle the repair bill received on November 30. prepare a general journal

Nov. 2 Remington received $2,500 for November phone service from Enrico Company. 6 Remington purchased $4,800 of supplies from Technology Associates on account. 10 Remington paid $5,200 to its hourly employees for their weekly wages. 15 Remington paid $ 4,800 to Technology Associates in full settlement of its account payable. 28 Remington paid $ 2,200 for utilities used during November. 30 Remington received a bill from Monticello Construction for $1,220 for repairs made to Remington's loading dock on November 15. Remington plans to pay the bill in early December. Dec. 10 Remington paid $1,220 to Monticello Construction to settle the repair bill received on November 30. prepare a general journal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ecco Company sold $128,000 of kitchen appliances with six-month warranties during September. The cost to repair defects under the warranty is estimated at 7% of the sales price. On October 15, a customer required a $100 part replacement, plus $80 labor under the warranty. a. Provide the journal entry for the estimated expense on September 30. If an amount box does not require an entry, leave it blank. b. Provide the journal entry for the October 15 warranty work. If an amount box does not require an entry, leave it blank.
Prepare the journal entries
5 Bally Manufacturing sent Intel Corporation an invoice for machinery with a $13,200 list price. Bally dated the invoice July 31 with 10 EOM terms. Intel receives a 40% trade discount. Intel pays the invoice on August 13. On August 09, Intel Corporation returns $900 of the machinery due to defects. What does Intel pay Bally on August 13? Payable amount to Bally
Dec. 2 Paid $1,060 cash to Northview Mall for Security First’ share of mall advertising costs. Dec. 3 Paid $520 cash for minor repairs to the company’s computer. Dec. 4 Received $6,900 cash from Brady Engineering Co. for the receivable from November. Dec. 10 Paid cash to Zahara Hughes for six days of work at the rate of $160 per day. Dec. 14 Notified by Brady Engineering Co. that Security First’ bid of $7,100 on a proposed project has been accepted. Brady paid a $1,550 cash advance to Security First. Dec. 15 Purchased $2,250 of computer supplies on credit from Arnold Office Products. Dec. 16 Sent a reminder to Jackson Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for Masters Corporation and received $7,900 cash. Dec. 22-26 Took the week off for the holidays. Dec. 28 Received $4,400 cash from Jackson Co. on its receivable. Dec. 29 Reimbursed K. Hughes for business automobile mileage…