Business, 06.07.2021 18:30 sconner733

Rogers Company completed the following transactions during Year 1. Rogers's fiscal year ends on December 31. Jan. 8 Purchased merchandise for resale on account. The invoice amount was $14,670; assume a perpetual inventory system. 17 Paid January 8 invoice. Apr. 1 Borrowed $36,000 from National Bank for general use; signed a 12-month, 9% annual interest-bearing note for the money. June 3 Purchased merchandise for resale on account. The invoice amount was $17,320. July 5 Paid June 3 invoice. Aug. 1 Rented office space in one of Rogers's buildings to another company and collected six months' rent in advance amounting to $21,000. Dec. 20 Received a $270 deposit from a customer as a guarantee to return a trailer borrowed for 30 days. 31 Determined wages of $9,700 were earned but not yet paid on December 31 (disregard payroll taxes).

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Rogers Company completed the following transactions during Year 1. Rogers's fiscal year ends on Dece...