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    Journal Entries and balance sheet transactions

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    This file contains examples, as well as an analysis of balance sheet transactions (journal entries) and how they are to properly entered in a balance sheet.

    Practice Exercise 3-12 Analysis of Journal Entries
    Analyze and record the transactions as journal entries

    a. Buildings 90,000
    Cash 35,000
    Mortgage Payable 55,000
    b. Cash 25,000
    Capital Stock 25,000
    c. Cash 40,000
    Loan Payable 40,000
    d. Salary Expense 12,000
    Cash 12,000
    e. Inventory 12,500
    Accounts Payable 12,500
    f. Accounts Receivable 84,000
    Sales 84,000
    Cost of goods 51,000
    Inventory 51,000
    g. Cash 62,000
    Accounts Receivable 62,000
    h. Accounts Payable 38,000
    Cash 38,000

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    https://brainmass.com/business/financial-statements/journal-entries-balance-sheet-transactions-139620

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    For your convenience, I have attached a formatted Excel spreadsheet which contains an analysis of the journal entries that you posted.

    Practice Exercise 3-12 Analysis of Journal Entries
    Analyze and record the transactions as journal entries

    Debit Credit Analysis:

    a. Buildings 90,000 Purchased buildings worth $90,000, for $35,000 in cash
    Cash 35,000 and $55,000 in mortgage payments.
    Mortgage Payable 55,000
    (Entry for purchase of ...

    Solution Summary

    An MS Excel spreadsheet containing an analysis of, as well as the recording of transactions as journal entries.

    $2.49

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