Activity Bookkeeping

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Activity: 1. On October 1,2014, T Co. received received a 5-mont 5-mont note from from a customer customer amounting amounting to 500,000, 10! interest. "ecord t#e ad$usting entry as of %ecember 2014.

2. On &e'tember 1, 2014, " Co. issued a (-mont# note to a su'')ier su'')ier amounting amounting to *00,000, 12! interest. A)so, t#ere +as an un'aid and unrecorded sa)aries at t#e end of t#e year dated %ecember *1, 2014 amounting to  25,000. ive t#e ad$usting entries.

*.  Co. 'urc#ased 'urc#ased a t+o year insurance 'o)icy on August 1, 2014 for  2,00. ive t#e ad$usting entries as of %ecember *1, 2014.

4. / Co. is engaged in constructing constructing and renting renting oce s'ace to various various businesses.. On &e'tember 1, 2014 one tenant gave 240,000 cas# for si businesses mont#s rent. ive t#e ad$usting entries as of %ecember *1,2014.

5. A Co. acuires acuires a bui)ding bui)ding on 3anuary 3anuary 1, 2014 2014 at a cost cost of 5,500,000. 5,500,000. T#e bui)ding #as an estimated usefu) )ife of 40 years and an estimated sa)vage va)ue of 500,000. "ecord t#e de'reciation for year 2014.

(. T#e com'any com'any estimates 5! of accounts receivab)e receivab)e +i)) be unco))ectib)e. unco))ectib)e. T#e T#e tota) credit sa)es for t#e year 2014 +ere 1,000,000, accounts receivab)e as of %ecember *1, 2014 +as  200,000 net of accounts +ritten o, and t#e a))o+ance for bad debts beginning ba)ance +as 10,000. T#e com'any a)so +rote of 5,000 accounts +#ic# +as deemed to be +ort#)ess and recovered *,000 of accounts 'revious)y +ritten o. "ecord t#e ad$usting entries

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