Planet corporation acquired 90 percent of saturn company’s voting shares of stock in 20x1. during 20x4, planet purchased 56,000 playday doghouses for $24 each and sold 41,000 of them to saturn for $30 each. saturn sold all of the doghouses to retail establishments prior to december 31, 20x4, for $45 each. both companies use perpetual inventory systems. required: a. prepare the journal entries planet recorded for the purchase of inventory and resale to saturn company in 20x4. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.