On December 1, 2022, Ivanhoe Distributing Company had the following account balances. Cash Accounts Receivable Inventory Supplies Equipment Dec. 6 8 10 During December, the company completed the following summary transactions. 13 21 22 2 Debit $7,600 Accumulated Depreciation-Equipment 5,000 Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings 12,400 20 1,200 23 22,000 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries paya Received $1,900 cash from customers in payment of account (no discount allowed). Sold merchandise for cash $6,700. The cost of the merchandise sold was $4,800. Purchased merchandise on account from Hecht Co. $8,800, terms 2/10, n/30. 15 Purchased supplies for cash $2,000. $48,200 Credit $2,200 4,900 Paid salaries $2,400. Paid Hecht Co. in full, less discount. 1,000 18 Sold merchandise on account $13,200, terms 3/10, n/30. The cost of the merchandise sold was $8,700. 15,000 25,100 $48,200 27 Received collections in full, less discounts, from customers billed on December 18.

On December 1, 2022, Ivanhoe Distributing Company had the following account balances. Cash Accounts Receivable Inventory Supplies Equipment Dec. 6 8 10 During December, the company completed the following summary transactions. 13 21 22 2 Debit $7,600 Accumulated Depreciation-Equipment 5,000 Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings 12,400 20 1,200 23 22,000 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries paya Received $1,900 cash from customers in payment of account (no discount allowed). Sold merchandise for cash $6,700. The cost of the merchandise sold was $4,800. Purchased merchandise on account from Hecht Co. $8,800, terms 2/10, n/30. 15 Purchased supplies for cash $2,000. $48,200 Credit $2,200 4,900 Paid salaries $2,400. Paid Hecht Co. in full, less discount. 1,000 18 Sold merchandise on account $13,200, terms 3/10, n/30. The cost of the merchandise sold was $8,700. 15,000 25,100 $48,200 27 Received collections in full, less discounts, from customers billed on December 18.

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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同 Mail - Edjouline X Bb Content- ACG2 X CengageNOWv X (58) YouTube + Microsoft Office X PowerPoint from Towards a A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%=Dassignments&takeAssignmentSessionLocator=assignment-take&inpro. of mail YouTube Maps eBook Show Me How apter Nine Determine Due Date and Interest on Notes .09-03.BLANKSHEET Determine the due date and the amount of interest due at maturity on the following notes: L09-04.BLANKSHEET Date of Note Face Amount Interest Rate Term of Note 09-03.ALGO January 10* $40,000 90 days a. b. March 19 180 days 000 8. 09-04.ALGO June 5 30 days 000'06 d. September 8 90 days 90-60 3. 000'9E e. November 20 60 days 9-11 4. 000' *Assume that February has 28 days. 9-12 Assume 360-days in a year when computing the interest. -19 Note Due Date Interest > -20 (2) (b) 9-22 -24 (p) (a) 890- 8/12 items Check My Work ( Previous Next LE V O 10: N
Subject : Accounting what is the lowest subscription level of QuickBooks online that allows custom fields to be added to purchase orders?
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Make a journal entries for the parent company