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URL:https://www.learndesk.us/class/5070293158592512/lesson/49ff75252a24d4e96aa78e1b53a81b17?ref=outlook-calendar
SUMMARY:Make Records in the Journal
DTSTART;TZID=America/Los_Angeles:20260502T190000
DTEND;TZID=America/Los_Angeles:20260502T200000
LOCATION:https://www.learndesk.us/class/5070293158592512/lesson/49ff75252a24d4e96aa78e1b53a81b17?ref=outlook-calendar
DESCRIPTION: 
There are 16 transactions, which should be entered into the journal. The xlsx is a Journal template that you can use to make the entries. For your convenience in column "Account Name" there is a drop-down menu.


Here you find summarized transactions for May:

Acquired inventory on credit, $ 8 000
Acquired machinery for $6 000 cash plus $22 000 on credit
Returned inventory to supplier for full credit, $1 500
Paid cash to creditors, $4 000
Sales on credit, $100 000
Cost of the inventory sold, $75 000
Paid rent for six months in advance, $12 000
Recognized expiration of rental services, $2 000
Received a bank loan, $20 000
Recognized depreciation of machinery, $2 000
An additional $10 000 cash is invested in the business
Collected $50 000 on accounts receivable
Paid utilities in cash $12 000
Paid selling expenses, $7 000
Paid interest expense, $2 000
Paid $1000 for a bank loan

Journalize all the transactions. Use the Journal prepared in a form of an Excel file, which you can find...

https://www.learndesk.us/class/5070293158592512/lesson/49ff75252a24d4e96aa78e1b53a81b17?ref=outlook-calendar
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