chapter 7 p7-24a

Save Homework: Chapter 7 Homework 4 of 4 (3 complete) > HW Score: 75%, 3 of 4 pls Score: 0 of 1 pt Question Help 10 P7-24A (similar to) Assume Brilliant Springs Class Company uses the perpetual ventory system. The general ledger of Brilliant Springs Glass Company includes the following selected accounts, along with the account numbers (Click on the icon to view the accounts) Sales and cash receipts transactions in July were as follows: (Cick on the con to view the transactions) Requirement 1, 2, and 3. Use the appropriate journal to record the preceding transactions in a sales journal comit the l ice No. column) and a cash receipts jumal comit the Sales Discounts Fortened column) Total each column of the sales journal and the cash receipts journal Show that total debits equal total credits Show how posongs would be made by entering the account numbers and check marks in the appropriate places in the journals Hegm with the sales journal Enter the transactions and total the journal. Assume all postings are made in the applicable ledgers If a box is not used in the journal leave the box emoly do not select information and do not enter a Tero Solec in place of a chekmark lo reflect posting to a subsidiary lodger) Choose from any list of enter any number in the input fields and then click Check Answer Check Answer Clor All 2 parts de 3 D i Data Table Number Account Number Account 11 18 19 Equipment Land Cash Accounts Receivable Notes Receivable Merchandise Inventory Office Supplies 41 Sales Revenue Cost of Goods Sold 51 16 Print Done Clear All Jul. 3 2 Sold merchandise inventory on credit, terms n/30, to Intelimate, Inc., $1,400 (cost, $700). Sold office supplies to an employee at cost, $85. receiving cash Cash sales for the week totaled $1,800 (cost. $1.640). Sold merchandise Inventory on account, terms n/30, to A. N. McNeill, $7 200 (cost, $5,100) 10 Sold land that cost $14,000 for cash of the same amount. Sold merchandise inventory on account, terms n/30. to Spark Electric. $5,600 (cost, $3,550) 12 Received cash from Intelimate in full settlement of its account receivable from July 2 Cash sales for the week were $2.400 (cost, $1,350), 15 Sold merchandise inventory on credit terms n/30, to the partnership of Wilke and Blinn, $3,300 (cost, $2.350) Sold merchandise inventory on account, terms n/30 to Spark Electric. $620 (cost, $360). Cash sales for the week were $985 (cost. $630) Received $4,9001 dash from AIN McNeill in partial settlement of his account receivable 25 Received cash from Wilke and Bline for its account neceivable from July 15 25 Sold merchandise inventory on account terms 1/30 to Ogarth. Co $1 590 (cost $970) 27 Collected $5,200 on a note receivable. There was no interes earned 28 Cash sales for the week totaled $3.750 (cost $2490) 29 Sold merchandise inventory on account terms 30 to R A Banks: $260 Oost. $150) 31 Received $1.900 cash on account from AN. McNe 20 Requirements - X 1. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column) and a cash receipts journal (omit the Sales Discounts Forfeited column) 2. Total each column of the sales journal and the cash receipts journal. Show that total debits equal total credits 3. Show how postings would be made by entering the account numbers and check marks in the appropriate places in the journals. (Assume all postings are made to the applicable ledgers.) Print Done Clear All Save Homework: Chapter 7 Homework 4 of 4 (3 complete) > HW Score: 75%, 3 of 4 pls Score: 0 of 1 pt Question Help 10 P7-24A (similar to) Assume Brilliant Springs Class Company uses the perpetual ventory system. The general ledger of Brilliant Springs Glass Company includes the following selected accounts, along with the account numbers (Click on the icon to view the accounts) Sales and cash receipts transactions in July were as follows: (Cick on the con to view the transactions) Requirement 1, 2, and 3. Use the appropriate journal to record the preceding transactions in a sales journal comit the l ice No. column) and a cash receipts jumal comit the Sales Discounts Fortened column) Total each column of the sales journal and the cash receipts journal Show that total debits equal total credits Show how posongs would be made by entering the account numbers and check marks in the appropriate places in the journals Hegm with the sales journal Enter the transactions and total the journal. Assume all postings are made in the applicable ledgers If a box is not used in the journal leave the box emoly do not select information and do not enter a Tero Solec in place of a chekmark lo reflect posting to a subsidiary lodger) Choose from any list of enter any number in the input fields and then click Check Answer Check Answer Clor All 2 parts de 3 D i Data Table Number Account Number Account 11 18 19 Equipment Land Cash Accounts Receivable Notes Receivable Merchandise Inventory Office Supplies 41 Sales Revenue Cost of Goods Sold 51 16 Print Done Clear All Jul. 3 2 Sold merchandise inventory on credit, terms n/30, to Intelimate, Inc., $1,400 (cost, $700). Sold office supplies to an employee at cost, $85. receiving cash Cash sales for the week totaled $1,800 (cost. $1.640). Sold merchandise Inventory on account, terms n/30, to A. N. McNeill, $7 200 (cost, $5,100) 10 Sold land that cost $14,000 for cash of the same amount. Sold merchandise inventory on account, terms n/30. to Spark Electric. $5,600 (cost, $3,550) 12 Received cash from Intelimate in full settlement of its account receivable from July 2 Cash sales for the week were $2.400 (cost, $1,350), 15 Sold merchandise inventory on credit terms n/30, to the partnership of Wilke and Blinn, $3,300 (cost, $2.350) Sold merchandise inventory on account, terms n/30 to Spark Electric. $620 (cost, $360). Cash sales for the week were $985 (cost. $630) Received $4,9001 dash from AIN McNeill in partial settlement of his account receivable 25 Received cash from Wilke and Bline for its account neceivable from July 15 25 Sold merchandise inventory on account terms 1/30 to Ogarth. Co $1 590 (cost $970) 27 Collected $5,200 on a note receivable. There was no interes earned 28 Cash sales for the week totaled $3.750 (cost $2490) 29 Sold merchandise inventory on account terms 30 to R A Banks: $260 Oost. $150) 31 Received $1.900 cash on account from AN. McNe 20 Requirements - X 1. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column) and a cash receipts journal (omit the Sales Discounts Forfeited column) 2. Total each column of the sales journal and the cash receipts journal. Show that total debits equal total credits 3. Show how postings would be made by entering the account numbers and check marks in the appropriate places in the journals. (Assume all postings are made to the applicable ledgers.) Print Done Clear All