Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chapter 9 AP-6A LO Accounting Information Systems Lin Z is an owner-operated sporting goods retailer. The following is a list of the company's transactions for

Chapter 9 AP-6A LO Accounting Information Systems Lin Z is an owner-operated sporting goods retailer. The following is a list of the company's transactions for the month of June. Jun 2, Jun 6 Jun 10 Jun 13 Jun 25 Received a loan of $1,000 from the bank The owner, Lin Zarra, invested $16,500 into the business Received $150 of interest earned on the savings account with Allmount Bank Received $2,000 from cash sales to Dawn Sports (sold sports items costing $1,500) Received $800 from AD Sports regarding outstanding accounts receivable Record the above transactions in the cash receipts journal. Using the following account numbers, enter the appropriate references for both individual and column totals, assuming all posting was completed. Cash 100 Accounts Receivable 110 Merchandise Inventory 120 Bank Loan 220 Zarra, Capital 300 Sales 400 Interest Revenue 410 Cost of Goods Sold 500 Date Account PR HU Cash Receipts Journal Page 4 COGS/ Accounts Interest Cash Receivable Sales Revenue (DR) (CR) (CR) (CR) Merchandise Other Inventory (CR) (DR/CR)

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

Microsoft Dynamics Ax 2012 R3 Financial Management

Authors: Mohamed Aamer

1st Edition

1784390984, 978-1784390983

More Books

Students also viewed these Accounting questions

Question

2. What potential barriers would you encourage Samuel to avoid?

Answered: 1 week ago

Question

6. How would you design your ideal position?

Answered: 1 week ago