Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

Alpha Company prepares quarterly adjusting entries and has a fiscal year end of December 31

Alpha Company prepares quarterly adjusting entries and has a fiscal

year end of December 31. The following events occured in FY 2017:

Oct 1: Accepted from Bravo a $18,000, four month 9% note in lieu of an existing $18,000 account receivable

Nov1: purchased from Zulu company, equipment for $48,000 and signed a note payable due in nine months for $49,125.
Prepare general journal entries (compound entries where needed and without explanation) for the following:
FY 2017
a. Oct 1, transaction
b. Nov 1, transaction
c. Dec 31, end of year adjusting entries
FY 2018
d. Feb 1, receipt of payment on Oct 1 note
e. Mar 31, adjusting entries
f. Jun 30, adjusting entries
g. Aug 1, payment of note from Nov 1 note

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"