Prepare journal entries (no amounts are needed) 1. Sold merchandise on account. 2. Sold a used computer for cash. 3. Paid a supplier’s overdue account.4. Recorded depreciation expense on a building. 5. Signed a mortgage and received cash. 6. Purchased inventory on account. 7. Paid for rent 8. Received payment from a customer. 9. Recorded liability for utilities expense 10. Recorded a loss after discarding obsolete inventory 11. Purchases were made of inventory for cash 12. Creditors were paid by cash 13. Cash is drawn from the bank and is held as a petty cash float 14. Annual amortization is recorded 15. Bad Debts are written off 16. Interest paid 17. Insurances is paid in advance 18. Property taxes are paid in advance
Prepare
1. Sold merchandise on account.
2. Sold a used computer for cash.
3. Paid a supplier’s overdue account.4. Recorded
5. Signed a mortgage and received cash.
6. Purchased inventory on account.
7. Paid for rent
8. Received payment from a customer.
9. Recorded liability for utilities expense
10. Recorded a loss after discarding obsolete inventory
11. Purchases were made of inventory for cash
12. Creditors were paid by cash
13. Cash is drawn from the bank and is held as a petty cash float
14. Annual amortization is recorded
15.
16. Interest paid
17. Insurances is paid in advance
18. Property taxes are paid in advance
1. Sold merchandise on account.
2. Sold a used computer for cash.
3. Paid a supplier’s overdue account.4. Recorded depreciation expense on a building.
5. Signed a mortgage and received cash.
6. Purchased inventory on account.
7. Gave a refund after hearing a customer’s complaint.
8. Received payment from a customer.
9. Sold shares of IBM stock for cash and recorded a gain.
10. Recorded a loss after discarding obsolete inventory.
11. Received a personal cash gift from a friend.
12. Made an “even” swap of a used truck for another truck.
13. Paid quarterly
14. Paid for rent
15. Recorded liability for utilities expense
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