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-   -   Journal Entry Help! (https://www.askmehelpdesk.com/showthread.php?t=817010)

  • Oct 12, 2015, 07:02 PM
    cburton
    Journal Entry Help!
    1. During the year, Walmart closed and sold several low performing locations. These transactions resulted in an increase in cash of $745, decrease in prepaid expense of $170, and an increase of other long term assets of $122. In addition, Walmart recognized an increase of short-term commercial paper of 4, decrease in accrued liabilities of $208, an increase in accrued income taxes of $352, an increase of other current liabilities of $1, a decrease in long-term debt of 291, decrease of deferred income taxes of $231, decrease of other noncurrent liabilities of 12, increase of other income of $1521 and an impairment loss of $439.

    Need of correct journal entries for this transaction
  • Oct 12, 2015, 07:27 PM
    smoothy
    That would be doing your homework for you. We don't do that. What do you have so far... show us that first and how you got it.
  • Oct 14, 2015, 07:08 PM
    paraclete
    The place to start is debit the increase in an asset or expense

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