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San Diego State University Operations And Supply Chain Management Assignment Help - Interest

Question - EZ Curb Company completed the following transactions during 2010. The annual accounting period ends December 31, 2010. Jan. 8 Purchased merchandise on account at a cost of $14,000. (Assume a perpetual inventory system.) 17 Paid for the January 8 purchase. Apr. 1 Received $40,000 from National Bank after signing a 12-month, 6 percent, promissory note. June 3 Purchased merchandise on account at a cost of $18,000. July 5 Paid for the June 3 purchase. Aug. 1 Rented out a small office in a building owned by EZ Curb Company and collected six months' rent in advance amounting to $6,000. (Use an account called Unearned Rent Revenue.) Dec. 20 Received a $100 deposit from a customer as a guarantee to return a large trailer "borrowed" ...Read More

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