Elliott Company uses a voucher system along with a petty cash fund. Record each of the following
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Elliott Company uses a voucher system along with a petty cash fund. Record each of the following entries in general journal form. Assume that Elliott Company records all vouchers at gross.
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201X Aug 3 Purchased $450 of merchandise on account from Greely Company; voucher no. 151 was prepared; terms 2/10, n/30. 5 Voucher no. 152 was prepared to establish petty cash for $105. 7 Isued check no. 58 in payment of voucher no. 151. 11 Check no. 59 was issued to pay voucher no. 152. 27 Voucher no. 153 was prepared to replenish the petty cash fund from the following receipts: supplies, $25; delivery, $29.
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201X Aug 3 Purchases 4 5 0 00 Vouchers Payable Greely Co 4 5 ...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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