Journalize the Following Transactions for Southport Company

question 5

Essay

Journalize the following transactions for Southport Company:
April 1, 2012 Bought an $11,000 machine on a 12-month, 9% note. The machine has
a useful life of five years and is depreciated on a straight-line basis.
Dec 31, 2012 Recorded accrued interest on the note and depreciation on the machine.
April 1, 2013 Paid note from April 1, 2011.

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Definitions:

Professional Presence

The combination of one's appearance, demeanor, and communication skills that contribute to an individual’s ability to make a positive impression in the professional world.

Career Wardrobe Decisions

The process of selecting and organizing attire that is appropriate and conducive to one's professional environment and career goals.

Primacy Effect

The tendency to remember information that is presented first better than information that is presented later.

Networking Opportunity

A situation or event designed to facilitate the building of professional or social connections among individuals.