Need help with general journal entries in financial accounting? Accounting period July 1 to the 31, 2013
1. Paid $3,000 for six month rent
2. Purchased ne equipment that cost $40,000 by signing a 3 year, 6% note payable. The note and interest will be paid in July 2016.
3. Paid $3,500 for wages due employer, of which 790 is fir the month of July.
4. Sold merchandise for cash, 10,000. The cost of merchandise sold was $5,000.
5. Purchased merchandise on account from EX, 15,000, terms 2/10, n/30.
6. Returned merchandise to EX company $500.
7. Sold merchandise in account to PC $43,400, terms 3/15, n/30. Cost of merchandise was $20,000.
8. Paid $3,500 for wages due employer.
9. Paid EX company.