2. Post the journal entries to the T accounts, selecting the appropriate date to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance. Cash Oct. 1 Oct. 2 Bal. Supplies Oct. 3 Bal. Accounts Payable Oct. 4 Bal. Common Stock Dividends Oct. 5 Sales Commissions Rent Expense Oct. 6 Office Salaries Expense Oct. 7 Automobile Expense Oct. 8 Supplies Expense Miscellaneous Expense

Quick computing currently sells 12 million computer chips each year at a price of $19 per chip. it is about to introduce a new chip, and it forecasts annual sales of 22 million of these improved chips at a price of $24 each. however, demand for the old chip will decrease, and sales of the old chip are expected to fall to 6 million per year. the old chips cost $10 each to manufacture, and the new ones will cost $14 each. what is the proper cash flow to use to evaluate the present value of the introduction of the new chip? (enter your answer in millions.)