The trial balance of Pacilio Security Services Inc. as of January 1, 2020, had the...
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The trial balance of Pacilio Security Services Inc. as of January 1, 2020, had the following normal balances: During 2020 Pacilio Security Services experienced the following transactions: Paid the sales tax payable from 2019. Paid the balance of the payroll liabilities due for 2019 (federal income tax, FICA taxes, and unemployment taxes). On January 1, 2020, purchased land and a building for $150,000. The building was appraised at $125,000 and the land at $25,000. Pacilio paid $50,000 cash and financed the balance. The balance was financed with a 10-year installment note. The note had an interest rate of 7 percent and annual payments of $14,238 due on the last day of the year. On January 1, 2020, issued $50,000 of 6 percent, five year bonds. The bonds were issued at 98. Purchase $660 of supplies on account. Purchased 170 alarm systems at a cost of $300. Cash was paid for the purchase. After numerous attempts to collect from customers, wrote off $2,450 of uncollectible accounts receivable. COMPREHENSIVE PROBLEM of The fundamental financial accounting , Edmond, 9e
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