1. A customer makes a payment on account. What would the journal entry look like?

1. 1. A customer makes a payment on account. What would the journal entry look like?

2. 1. A customer makes a payment on account. What would the journal entry look like?

3. 2. What would the journal entry look like when a business buys equipment on account?

4. 2. What would the journal entry look like when a business buys equipment on account?

5. 3. What would the journal entry look like when a business pays for equipment purchased on account?

6. 3. What would the journal entry look like when a business pays for equipment purchased on account?

7. 4. What would the journal entry look like when a business pays for equipment with cash?

8. 4. What would the journal entry look like when a business pays for equipment purchased on account?

9. 5. A business pays salaries of $50,000 on the first and 15th of each month. What would be the adjusting entry required on the 31st?

10. 5. A business pays salaries of $50,000 on the first and 15th of each month. What would be the adjusting entry required on the 31st?

11. 6. A business uses a perpetual inventory method. What entry would be made to purchase inventory on account?

12. 6. A business uses a perpetual inventory method. What entry would be made to purchase inventory on account?

13. 7. A business uses a perpetual inventory method. What entry would be made to purchase inventory on account with terms of 2/10 net 30?

14. 7. A business uses a perpetual inventory method. What entry would be made to pay inventory on account with terms of 2/10 net 30?

15. 8. How would you record a return of merchandise? (from customer to your business)

16. 8. How would you record a return of merchandise? (from customer to your business)

17. 9. How would you record a sale of $1000 inventory on account? Cost of goods sold is $600

18. 9. How would you record a sale of $1000 inventory on account? Cost of goods sold is $600

19. 10. What entry would be made to establish a petty cash fund?

20. 10. What entry would be made to establish a petty cash fund?

21. 11. Petty Cash was established with $300. The current balance is $50.Office supplies $100Delivery Expense$144What is the entry to replenish that?

22. 11. Petty Cash was established with $300. The current balance is $50.Office supplies $100Delivery Expense$144What is the entry to replenish that?

23. 12. What is the entry to record borrowing a 10% note payable. Borrowed amount is $10,000.

24. 12. What is the entry to record borrowing a 10% note payable. Borrowed amount is $10,000.

25. 13. What is the entry for paying back a 10% note payable. Borrowed amount is $10,000.

26. 13. What is the entry for paying back a 10% note payable. Borrowed amount is $10,000.

27. 14. What is the entry for recording a dividend that was previously declared? The dividend is $.50 per share on 50,000 shares

28. 14. What is the entry for recording a dividend that was previously declared? The dividend is $.50 per share on 50,000 shares

29. 15. Furniture purchased for $20,000Accumulated Depreciation $17,000Sold for $3,500What is the journal entry for the sale of this furniture?

30. 15. Furniture purchased for $20,000Accumulated Depreciation $17,000Sold for $3,500What is the journal entry for the sale of this furniture?