EXPLAIN TRANSACTIONS AND ADJUSTMENTS / TUTORIALOUTLETDOTCOM

1
EXPLAIN TRANSACTIONS AND ADJUSTMENTS /
TUTORIALOUTLETDOTCOM
Meet us .Here
2
EXPLAIN TRANSACTIONS AND ADJUSTMENTS
Explain transactions and adjustments that
occurred during FOR MORE CLASSES
VISIT www.tutorialoutlet.com Issued 199,000
shares of 4-par-value common stock for 796,000
in cash. Borrowed 540,000 from Oglesby National
Bank and signed a 10 note due in three
years. Incurred and paid 420,000 in salaries for
the year. Purchased 740,000 of merchandise
inventory on account during the year. Sold
inventory costing 590,000 for a total of
910,000, all on credit.
3
EXPLAIN TRANSACTIONS AND ADJUSTMENTS /
TUTORIALOUTLETDOTCOM
Education is the key to success in life, and
teachers make a lasting impact in the lives of
their students.Meet us .Here