On January 1, 2022, the ledger of Coronado Company contains these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue Jan. 5 12 During January, these selected transactions occurred. 14 20 21 $56,000 25 8,100 16,000 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. Performed services for customers who had made advance payments of $10.500. (Credit Service Revenue) Paid state revenue department for sales taxes collected in December 2021 ($8,100). Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty. Borrowed $22,500 from Girard Bank on a 3-month, 8%, $22,500 note Sold merchandise for cash totaling $7,128, which includes 8% sales taxes
On January 1, 2022, the ledger of Coronado Company contains these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue Jan. 5 12 During January, these selected transactions occurred. 14 20 21 $56,000 25 8,100 16,000 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. Performed services for customers who had made advance payments of $10.500. (Credit Service Revenue) Paid state revenue department for sales taxes collected in December 2021 ($8,100). Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty. Borrowed $22,500 from Girard Bank on a 3-month, 8%, $22,500 note Sold merchandise for cash totaling $7,128, which includes 8% sales taxes
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...
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i need help completing the entire balnce sheet
![On January 1, 2022, the ledger of Coronado Company contains these liability accounts.
Accounts Payable
Sales Taxes Payable
Unearned Service Revenue
Jan. 5
12
During January, these selected transactions occurred.
14
20
21
$56,000
25
8,100
16,000
Sold merchandise for cash totaling $20,520, which includes 8% sales taxes.
Performed services for customers who had made advance payments of $10.500. (Credit Service Revenue.)
Paid state revenue department for sales taxes collected in December 2021 ($8,100).
Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year
warranty.
Borrowed $22,500 from Girard Bank on a 3-month, 8%, $22,500 note
Sold merchandise for cash totaling $7.128, which includes 8% sales taxes](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F43180b56-811a-4d04-83ae-8e6d931a8034%2Fed3b241e-0cf0-44a4-b442-f57f8cebb239%2Fc0xqj48_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 1, 2022, the ledger of Coronado Company contains these liability accounts.
Accounts Payable
Sales Taxes Payable
Unearned Service Revenue
Jan. 5
12
During January, these selected transactions occurred.
14
20
21
$56,000
25
8,100
16,000
Sold merchandise for cash totaling $20,520, which includes 8% sales taxes.
Performed services for customers who had made advance payments of $10.500. (Credit Service Revenue.)
Paid state revenue department for sales taxes collected in December 2021 ($8,100).
Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year
warranty.
Borrowed $22,500 from Girard Bank on a 3-month, 8%, $22,500 note
Sold merchandise for cash totaling $7.128, which includes 8% sales taxes
![On January 1, 2022, the ledger of Coronado Company contains these liability accounts.
Accounts Payable
Sales Taxes Payable
Unearned Service Revenue
Jan. 5
12
During January, these selected transactions occurred.
14
20
21
$56,000
25
8,100
16,000
Sold merchandise for cash totaling $20,520, which includes 8% sales taxes.
Performed services for customers who had made advance payments of $10.500. (Credit Service Revenue.)
Paid state revenue department for sales taxes collected in December 2021 ($8,100).
Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year
warranty.
Borrowed $22,500 from Girard Bank on a 3-month, 8%, $22,500 note
Sold merchandise for cash totaling $7.128, which includes 8% sales taxes](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F43180b56-811a-4d04-83ae-8e6d931a8034%2Fed3b241e-0cf0-44a4-b442-f57f8cebb239%2Fekkyyep_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 1, 2022, the ledger of Coronado Company contains these liability accounts.
Accounts Payable
Sales Taxes Payable
Unearned Service Revenue
Jan. 5
12
During January, these selected transactions occurred.
14
20
21
$56,000
25
8,100
16,000
Sold merchandise for cash totaling $20,520, which includes 8% sales taxes.
Performed services for customers who had made advance payments of $10.500. (Credit Service Revenue.)
Paid state revenue department for sales taxes collected in December 2021 ($8,100).
Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year
warranty.
Borrowed $22,500 from Girard Bank on a 3-month, 8%, $22,500 note
Sold merchandise for cash totaling $7.128, which includes 8% sales taxes
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