Accounts Receivable/ Notes Receivable

Accounts Receivable, decrease 100,000

Sales on Account/Gross Sales 4,260,000

4,360,000

Accounts Payable
Cash paid to creditors 2,800,000
Purchase Discounts 40,000
Purchase Returns 10,000
2,850,000

Gross Purchases 2,650,000

Add: Freight In -
Less: Purchase Discounts 40,000
Purchase Returns 10,000
Net Purchases 2,600,000

Merchandise Inventory
Merchandise Inventory, decrease 25,000
Net Purchases 2,600,000

2,625,000

Rental Revenue / Unearned Rental Income

Rental Revenue 454,000

454,000

Prepaid Interest
Prepaid Interest, decrease 5,500
Interest Payable, increase 8,500
Interest Paid 100,000
114,000
 Receivable/ Notes Receivable
100,000 Notes Receivable, increase
10,000 Accounts Receivable written off
4,200,000 Cash received from customers
30,000 Sales Discounts
20,000 Sales returns and allowances
4,360,000

Accounts Payable
200,000 Accounts Payable, decrease
2,650,000 Purchases

2,850,000

Merchandise Inventory
2,625,000 Cost of Sales

2,625,000

enue / Unearned Rental Income

14,000 Rental Receivables, increase
40,000 Unearned Rental Income, decrease
400,000 Cash received from tenants
454,000

Prepaid Interest
114,000 Interest Expense

114,000