Hi I am having trouble completing my accouitn homework, could you help me please? 123456789101112131415DateOct. 5Oct. 7ATextbook Ref LO 12.2Jumanji Games is a chain of board game stores. Record entries for the following transactions related to Jumanji's purchase ofinventory.1. On October 5, Jumanji purchases and receives inventory from XYZ Entertainment for $7,000 with credit terms of 3/10 net 30.2. On October 7, Jumanji returns $1,000 worth of the inventory purchased from XYZ.3. Jumanji makes payment in full on its purchase from XYZ on October 14.Oct. 14BAccount TitleTo record the purchase of board gamesTo record the returns of inventoryCTo record the payment on Oct 14DDebitECreditFG Textbook RefLO 12.1Following is a list of current liabilities on a balance sheet. Match each liabiltity with its appropriate descriptionA. Sales Tax PayableB. Current portion of a long-term debtC. Interest PayableD. Accounts PayableE. Unearned Revenuei. Advance collected for a customer for which goods or services are owed in the futureii. Amount of interest the business owes on a borrowing (loan)iii. The portion of the debt due within the operating periodiv. Amounts due to the supplier for goods/services they have provided but have not been paid forv. Taxes collected on the sale of products which are to be remitted to the tax authorities

Journal Entry :— It is an act of recording transaction in books of account when transaction…

Textbook Ref LO 12.1 Following is a list of current liabilities on a balance sheet. Match each liabiltity with its appropriate description A. Sales Tax Payable B. Current portion of a long-term debt C. Interest Payable D. Accounts Payable E. Unearned Revenue i. Advance collected for a customer for which goods or services are owed in the future ii. Amount of interest the business owes on a borrowing (loan) iii. The portion of the debt due within the operating period iv. Amounts due to the supplier for goods/services they have provided but have not been paid for v. Taxes collected on the sale of products which are to be remitted to the tax authorities

Textbook Ref LO 12.1 Following is a list of current liabilities on a balance sheet. Match each liabiltity with its appropriate description A. Sales Tax Payable B. Current portion of a long-term debt C. Interest Payable D. Accounts Payable E. Unearned Revenue i. Advance collected for a customer for which goods or services are owed in the future ii. Amount of interest the business owes on a borrowing (loan) iii. The portion of the debt due within the operating period iv. Amounts due to the supplier for goods/services they have provided but have not been paid for v. Taxes collected on the sale of products which are to be remitted to the tax authorities

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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