Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ake me to the text ya Cosmetics has provided you with the following information about the transactions that the company incurred during the month of

ake me to the text ya Cosmetics has provided you with the following information about the transactions that the company incurred during the month of August. Aug 4 Received $2,500 from a cash sale to Arms Inc. (cost $2.000). Aug 9 Received $790 from Facial Fresh regarding outstanding accounts receivable. Aug 11 Received $600 for the cash sale of 5 facial scrubs (cost $540) to Europ Salon Aug 18 Received $118 in interest earned from the Springfield Bank. Aug 26 Took out a loan of $5,000 from the bank. Required Record these transactions in the cash receipts journal. Do not enter dollar signs or commas in the input boxes, Cash Receipts Journal Accounts Receivable Interest Revenue Page 5 COGS/Merchandise Date Account Cash (DR) Sales (CR) Other (CR) (CR) (CR) Inventory (DR/CR) S $ $ Aug 4 Cash Sale $ $ $ 2000 Aug 9 Facial Fresh Aug 11 Europ Salon $ S $ Cash Receipts Journal Page 5 Accounts Receivable Date Account Cash (DR) Interest Revenue COGS/Merchandise Sales (CR) Other (CR) (CR) (CR) Inventory (DR/CR) Aug 4 Cash Sale $ S $ 2000 Aug 9 Facial Fresh S S S S S $ S Aug Europ Salon $ S S 11 Aug Springfield S $ $ $ 18 Bank S S Aug Bank Loan $ 26 Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting An Introduction To Concepts Methods And Uses

Authors: Arnold I. Davidson

2nd Edition

0030597269, 978-0030597268

More Books

Students also viewed these Accounting questions