Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. south shore manufacturing manufactures face masks.

South Shore Manufacturing manufactures face masks. The following transactions occurred for the month of August...

70.2K

Verified Solution

Question

Accounting

South Shore Manufacturing manufactures face masks. The following transactions occurred for the month of August 2020. August 2 Paid employee salaries relating to work performed in July 2020 of $3,500 August 5 Received $65,000 from customers invoiced for purchases they made in July 2020. August 12 Purchased a new delivery truck for $35,000, paying a $25,000 cash deposit with the balance to be paid in October 2020. August 26 Paid $5,000 for factory cleaning costs August 31 Purchased a 12-month insurance policy for $10,000 to insure the factory building for the period 1 September 2020 to 31 August 2021. Required: Prepare the general journal entries to record the above transactions for the month of August. Narrations ARE required.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

???(Bond valuation) ?Pybus, Inc. is considering issuing bonds that will mature in 22 years with an...

Finance
Q

Air enters the compressor of a gas-turbine plant at ambient conditions of 100 kPa and 25°C with...

Advance Math
Q

Which type of quote isSample #2?A. a quote woven into the syntax of the writer'sown...

Biology
Q

Identify each statement as true or false RNA polymerase binds to the template strand of...

Biology
Q

In the figure below what is the potential difference between the point A and B...

Physics
Q

2 A physical fitness association is including the mile run in its secondary school fitness...

Statistics
Q

What is the impact of companies adopting IFRS reporting based on equity based accounting for...

Accounting
Q

Jolly Giant Burgers purchased a commercial dishwasher by paying cash of $8,000. The dishwasher's fair...

Accounting
Q

Failure to record accrued interest on a note payable causes a company to: Select one:...

Accounting
Q

Analyze the company results including the following: (For this, you will need to find the...

Accounting
Q

Portfolio return and beta Personal Finance Problem Jamie Peters invested 5123,000 to set up the...

Finance
Q

The 2011 balance sheet of Annas Tennis Shop, Inc., showed long-term debt of $5.0 million,...

Finance