Prepare Journal entries for all the transactions? Apr. 1 Night invested cash in business, $90,000.1Paid insurance premium for six-month camping season, $9,000.2Paid rent for lodge and campgrounds for the month of April, $40,000.2Deposited registration fees, $35,000.2Purchased 10 fishing boats on account for $60,000. The boats have estimated useful lives of five years, at whichtime they will be donated to a local day camp. Arrangements were made to pay for the boats in July.3Purchased food supplies from Acme Super Market on account, $7,000.5Purchased office supplies from Gordon Office Supplies on account, $500.7Deposited registration fees, $38,600.10Purchased food supplies from Acme Super Market on account, $8,200.10Paid wages to fishing guides, $10,000.14Deposited registration fees, $30,500.16Purchased food supplies from Acme Super Market on account, $9000.17Paid wages to fishing guides, $10,000.18Paid postage, $150.Deposited registration fees, $35,600.24Purchased food supplies from Acme Super Market on account, $8,500.21

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Prepare Journal entries for all the transactions?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter16: Tax Research

Section: Chapter Questions

Problem 78AM

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