I need help with posting journal entires for number 15 and 9! Thank you! Name Tr

Question

I need help with posting journal entires for number 15 and 9! Thank you! Name Trial Balance of Salami, Inc. as of December 31, 2011 appears below: READ EACH DESCRIPTION C NO QUESTIONS WILL BE ANSWERED. PRINT CLEARLY and USE COMPLETE Account Titles. FULLY and record the transaction for its ending impact for 2012 Dr Cr. Account Cash Accounts Receivable Allowance for Doubtful 496,000 499,000 -50,000 Accounts Prepaid Rent Prepaid Insurance Inventory Furniture and Fixtures 525,000 150,000 875,000 215,000 Accounts Payable Wages Payable Common Stock 5,000 750,000 80,000 1,200,00 Retained Eamings Sales Revenue Cost of Goods Sold Wages Expense Rent Expense Depreciation Expense Utility Expense Bad Debt Expense Insurance Expense Dividends Totals 595,000 2,760,00 2,760,00 Pn frin00n0 0e 40 55 210000remade an accourt 2) Payments for inventory purchased on account were $5,210,000

Explanation / Answer

Journal Entry

Transaction No 9:

Office Supplies Inventory Dr. $45,000

To Accounts Payable / Cash/ Bank $45,0000

Transaction No 15:

Office Supplies Expenses Dr. $40,000

To Office Supplies Inventory $40,0000

This will leave Office Supply Inventory of $5,000 as $40,000 Office Supplies were used during the year and same need to be expensed.

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