Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cash Receipts Journal Date Account Credited Apr. 1 Apr. 4 Apr. 5 Apr. 8 Apr. 10 Apr. 11 Apr. 23 V Apr. 29 V Accounts
Cash Receipts Journal Date Account Credited Apr. 1 Apr. 4 Apr. 5 Apr. 8 Apr. 10 Apr. 11 Apr. 23 V Apr. 29 V Accounts Rece Sales Discounts Dr. Cr. 301 Cash Dr. Ref. 120 (101) (414) (112) Cash Receipts Journal Date Account Credited Apr. 1 Apr. 4 Apr. 5 Apr. 8 Apr. 10 Apr. 11 Apr. 23 V Apr. 29 V Accounts Rece Sales Discounts Dr. Cr. 301 Cash Dr. Ref. 120 (101) (414) (112) Pharoah Company's chart of accounts includes the following selected accounts. On April 1, the accounts receivable ledger of Pharoah Company showed the following balances: Morrow $1,520, Rose $1,250, Jennings Co. $2,910, and Dent $2,000. The April transactions involving the receipt of cash were as follows. Apr. The owner, T. Pharoah, invested additional cash in the business $7,150. 1 4 Received check for payment of account from Dent less 2% cash discount. 5 Received payment in full for $965 from Jennings Co for invoice no. 307. 8 Made cash sales of merchandise totaling $7,225. The cost of the merchandise sold was $4,335. 10 Received payment in full for $560 from Morrow for invoice no. 309. 11 Received cash refund from a supplier for damaged merchandise $730. 23 Received payment in full for $1,200 from Jennings Co. for invoice no. 310 . 29 Received check for payment of account from Rose (no cash discount allowed)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started