Please Show your work Journal Entries exercise The following

Please Show your work!

Journal Entries exercise The following trans! Mowing transactions occurred durine the month of June 2013 for the Stridewell Corporations. The company owns and operates a retail shoe store. Purchased furniture and fixtures at a cost of $100,000. $40,000 was paid and a note payable was signed for the balance owed. Answer: Credit sales for the month totaled $280,000. The cost of the goods sold was $140,000.

Solution

Journal entry :

Journal entry :

Date	accounts & explanation	debit	credit
	Furniture & Fixtures	100000
	Cash		40000
	Notes payable		60000
	(To record furniture & Fixtures)