Jent company reported the following information for 2016: october november december budgeted sales $320,000 $340,000 $360,000 budgeted purchases $120,000 $128,000 $144,000 • all sales are on credit. • customer amounts on account are collected 40% in the month of sale and 60% in the following month. compute the amount of cash jent will receive during november.

Need true or false 1 2 3 4 5 6 7 8

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

Your own record of all your transactions. a. check register b. account statement