a. Purchased equipment on account. | General Journal |
b. Purchased merchandise on account. | Purchase Journal |
c. Paid utility expense in cash. | Cash Disbursement Journal |
d. Sold merchandise on account. | Sales Journal |
Income Statement | Balance Sheet | |||
Dr. | Cr. | Dr. | Cr. | |
Totals | 20,000 | 60,000 | 140,000 | 100,000 |
Net Income | 40,000 | 40,000 | ||
Totals | 60,000 | 60,000 | 140,000 | 140,000 |
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BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in...
R. Ivanhoe Co. uses special journals and a general journal. The following transactions occurred during May 2020 May 1 R. Ivanhoe invested $46,400 cash in the business. 2 Sold merchandise to Lawrie Co. for $5,830 cash. The cost of the merchandise sold was $4,050 3 Purchased merchandise for $7,170 from J. Moskos using check no. 101 14 Paid salary to H. Rivera $725 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $820, terms n/30....
Exercise 7-6 Company uses special journals and a general journal. The following transactions occurred during September 2017. 2 Sold merchandise on account to H. Drew, invoice no. 101, s620, terms n/30. The cost of the merchandise sold was $420. 10 Purchased merchandise on account from A. Pagan $650, terms 2/10, n/30. 12 Purchased office equipment on account from R. Cairo $6,500. 21 Sold merchandise on account to G. Holliday, invoice no. 102 for $800, terms 2/10, n/30. The cost of...
Blossom Company uses special journals and a general journal. The following transactions occurred during September 2020. Sept. Sold merchandise on account to H. Drew, invoice no. 101. $730, terms 1/30. The cost of the merchandise sold was $470. 10 Purchased merchandise on account from A. Pagan $570, terms 2/10, 1/30. 12 21 Purchased office equipment on account from R. Cairo $6,200. Sold merchandise on account to G. Holliday, invoice no. 102 for $790, terms 2/10, /30. The cost of the...
Exercise 7-06 a-b (Video) Ivanhoe Company uses special journals and a general journal. The following transactions occurred during September 2020. Sept. 2 Sold merchandise on account to H. Drew, invoice no. 101, $755, terms n/30. The cost of the merchandise sold was $395. 10 Purchased merchandise on account from A. Pagan $565, terms 2/10, 1/30 12 Purchased office equipment on account from R. Cairo $6,900. 21 Sold merchandise on account to G. Holliday, invoice no. 102 for $750, terms 2/10,...
uestion 1 w Policies Trent Attempt in Progress Blossom Company uses special Journals and a general journal. The following transactions occurred during September 2020, Sept. Sold merchandise on account to H. Drew, invoice no 101, $730, terms 1/30. The cost of the merchandise sold was $470. 10 Purchased merchandise on account from A. Pagan $570, terms 2/10, 1/30 12 Purchased office equipment on account from R. Cairo $6,200. Sold merchandise on account to G. Holliday, invoice no. 102 for $790,...
Sheridan Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $297,400; the Accounts Payable control account had a credit balance of $76,900. The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July. Sales journal...
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Ali Co. uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash receipts journal. Nov. 3 The company purchased $3,400 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $897 to J. Than for $986 on credit, subject to a $20 sales discount if paid by the end of the month. 9 The company borrowed $2,550 cash by...
ABC Co. uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash receipts journal. Nov. 3 The company purchased $2,900 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $765 to ]. Than for $841 on credit, subject to a $17 sales discount if paid by the end of the month. 9 The company borrowed $3,450 cash by...
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