Becky Company, which is a medium-sized firm, uses a voucher system. Record each of the following entries
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Becky Company, which is a medium-sized firm, uses a voucher system. Record each of the following entries in general journal form. Assume that Becky Company records all vouchers at gross.
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201X May 3 Voucher no. 50 was prepared for the purchase of $6,700 of merchandise on account from Mark Company; terms 3/10, n/30. 6 Voucher no. 51 was prepared for the purchase of $4,100 of equipment on account; terms 3/10, n/30. 12 Check no. 55 was issued in payment of voucher no. 51. 17 Check no. 56 was issued in payment of voucher no. 50.
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201X May 3 Purchases 6 7 0 0 00 Vouchers Payabl...View the full answer
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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