Question

Accounting 200 (Posting adjusted journal entries to t-accounts):

Part 1 (for reference to help with the question at hand):

Adjusted journal entries (also for reference for the question at hand):

-Journal Entry #1:

-Journal Entry #2:

-Journal Entry #3:

-Journal Entry #4:

-Journal Entry #5 & #6:

Question at hand:

Answer 1

Answer: 1) Accounts Receivable Amount Amount $24.000Allowance for S16,500 Opeing Balance doubtful debt1.600 $2,000 S36,900 Sales Bad debt expense Closing Balance $40,500 $40.500 2) Sales Amount Amount S503,000 Opening Balance Accounts Receivable 16,500 Closing Balance S519,500 S519,500 S519,500 3) Cost of goods sold Amount Amount 546,000 Opening Balance Inventory S5,500Closing Balance S51.500 $51,500 51.500

Inventorv Amount Amount 00 S6.500 12,000 Opening Balance $12,000 Cost of goods sold S5.5 Closing Balance 12,000 5) Interest Expense Amount Amount S6,500 S3,000 Closing Balance S9,500 Opening Balance $9.500 $9,500 Interest Payable 6) Interest Pavable Amount Amount S0 3.000 53.000 Opening Balance Closing Balance S3,000 Interest Expense $3.000

7) Allowance for doubtful debts Amount Amount 1,000 S600 S1,600 Opening Balance Account Receivable S1,600 Closing Balance 1.600 8) Bad debt expense Amount Amount S0 Opening Balance Accounts Receivable 32,000 Closing Balânce $2,000 $2,000 S2,000 9) Depreciation expenses Amount Amount S16,000 ning Balance Op Accumulated Depreciation 5,000 Closing Balance 19,000 S19,000 19,000

10) Accumulated Depreciation Amount Amount $27,000 Opening Balance S42,000 3.000 Equipment Depreciation S18,000 $45.000 Closing Balance 45.000 Loss on Disposal of Equipment Amount Amount $7,000 S7,000 Equipment 7,000 Closing Balance S7,000 12) Equipment Amount Amount S75,000 Accumulated Dep $27,000 Loss on disposal of eq$7,000 Opening Balance Closing Balance $41,000 75.000