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Prepare the general journal entries

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Reference no: EM132203711

Alpha Co, prepares quarterly adjusting entries & has a fiscal year end of December 31. The following events occurred in FY 2017:

Oct 1: accepted from Bravo a $9,000, four months 9% note in lieu of an existing $9,000 accounts receivable

November 1: purchase from Zulu CO. equipment for $42,000 and signed a Note Payable due in nine months for $43,035

Use this information to prepare the General Journal entries (compound entries where needed and without explanation) for the Following:

Fiscal Year 2017:

a. October 1, Transaction

b. November 1, Transaction

c. December 31, end of the fiscal year adjusting entries

Fiscal Year 2018:

d. February 1, receipt of payment on October 1 Note

e. March 31, adjusting entries

f. June 30, adjusting entries

g. August 1, payment of November 1, Note 

Reference no: EM132203711

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