General Co

question 23

Essay

General Co.entered into the following transactions involving short-term notes payable.
On May 14,General purchased $40,000 merchandise from Steller Co. ,terms are 2/15,n/30.General uses the perpetual inventory system.On May 29,General replaced the May 14 account payable with a 60-day,$36,000 note bearing 8% annual along with paying $4,000 in cash.On July 28,General paid the amount due on the note at maturity.
Prepare journal entries for all the preceding transactions and events.

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Definitions:

Core Job Characteristic(s)

Fundamental attributes of a job that affect an employee's work engagement and motivation, including skill variety, task identity, task significance, autonomy, and feedback.

Feedback from Job

Information and opinions about an individual's performance at work, often provided by supervisors or peers to aid in development and improvement.

Job Enlargement

Increasing the number of different tasks in a job to make it more varied and interesting for the employee.

Video Journalism

The practice of producing news and journalistic content through videos, often involving reporting, shooting, and editing by the journalist.