Exercise 13-08 On December 31, 2020, Sweet Company had $1,232,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 25,500 shares of its common stock for $48 per share, receiving $1,224,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $8,000 cash, are used to liquidate the $1,232,000 debt. The December 31, 2020, balance sheet is issued on February 23, 2021. Show how the $1,232,000 of short-term debt should be presented on the December 31, 2020, balance sheet. (Enter account name only and do not provide descriptive information.) Sweet Company Partial Balance Sheet select a balance sheet section : enter a balance sheet item $enter a dollar amount Click if you would like to Show Work for this question: Open Show Work

Expert computers was started in 2018. the company experienced the following accounting events during its first year of operation: started business when it acquired $40,000 cash from the issue of common stock. purchased merchandise with a list price of $32,000 on account, terms 2/10, n/30. paid off one-half of the accounts payable balance within the discount period. sold merchandise on account for $28,000. credit terms were 1/20, n/30. the merchandise had cost expert computers $16,000. collected cash from the account receivable within the discount period. paid $2,100 cash for operating expenses. paid the balance due on accounts payable. the payment was not made within the discount period. required record the events in a horizontal statements model below. in the cash flows column, use the letters oa to designate operating activity, ia for investing activity, fa for financing activity, or nc for net change in cash. if the account is not affected by the event, leave the cell blank. the first event is recorded as an example. what is the amount of gross margin for the period? what is the net income for the period?