Prepare a journal entry for the purchase of a truck on April 4 for $72.240, paying $5,900 cash and the remainder on acco

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Prepare a journal entry for the purchase of a truck on April 4 for $72.240, paying $5,900 cash and the remainder on acco

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Prepare A Journal Entry For The Purchase Of A Truck On April 4 For 72 240 Paying 5 900 Cash And The Remainder On Acco 1
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Prepare a journal entry for the purchase of a truck on April 4 for $72.240, paying $5,900 cash and the remainder on account. Refer to the Chart of Accounts for exact wording of account titles.
Instruction (a) A purchase of supplies for $213 on account was recorded and posted as a debit to Supplies for $592 and as a credit to Accounts Receivable for $592. (b) A receipt of $4,140 from Fees Earned was recorded and posted as a debit to Fees Earned for $4,140 and a credit to Cash for $4,140. Required: Journalize the entries to correct the above errors. Use two entries to correct the error described in (a). (That is, record an entry to reverse the incorrect entry and a second entry to record the correct entry.) Refer to the Chart of Accounts for exact wording of account titles.
On December 1, JumpStart provides $2,800 in services to clients. Required: (a) Journalize this event as if the clients had paid cash at the time the services were rendered." (b) Journalize this event as if the clients had placed this on account." (c) Assume that the clients paid $1,200 of the amount on account on December 30. Journalize this transaction." *Refer to the Chart of Accounts for exact wording of account titles.
Following are the selected transactions for April: (a) Received $18,000 from Katie Long, owner. (b) Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder. (c) Paid $2,300 for rent for April. (d) Parchased $1,500 of supplies on account. (e) Recorded $9,800 of fees earned on account. (f) Received $7,500 in cash for fees earned. (g) Paid $1,200 to creditors on account. (h) Paid wages of $3,425. (1) Received $7,900 from customers on account. (1) Recorded owner's withdrawal of $1,875.
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