Question
Cream City Company requests help with recording transactions in special journals for its first month of operations. It uses a sales journal, purchases journal, cash
Cream City Company requests help with recording transactions in special journals for its first month of operations. It uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. The Tableau Dashboard is provided to aid our work.
May 1. Sold merchandise costing $900 to M. Brogdon for $1080 cash, Invoice No. 1301.
May 4. Purchased merchandise for $7,200 on credit from Hardaway Co., terms n/30.
May 5. Purchased merchandise for $11,700 on credit from CBJ Co., terms n/60.
May 6. Sold merchandise costing $2,340 to G. Anteto for $3,600, terms 2/10, n/60, Invoice No. 1302.
May 8. Purchased $585 of office supplies from Parker Co. on credit, terms n/60.
May 9. Borrowed $27,000 cash by signing a note payable to Synchrony bank
May 11. Sold merchandise costing $630 to B. Lopez for $945, terms n/60, Invoice No. 1303
May 15. Received $3,528 cash from G. Anteto to pay for the purchase of May 6.
May 17. Issued Check No. 651 for $4,500 to pay off a note payable to Ally Bank.
May 24. Sold merchandise costing $1,215 to E. Bledsoe for $1,890, terms n/60, Invoice No. 1304
May 28. Issued Check No. 652 to Hardaway to pay the amount due for the May 4 purchase.
May 29. Paid salary of $8,100 to M. Bud by issuing Check No. 653.
For Year 8, prepare the accounts, amounts, and balances to be reported in the accounts payable subsidiary ledger at the end of May.
Required information [The following information applies to the questions displayed below.] Cream City Company requests help with recording transactions in special journals for its first month of operations. It uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. The Tableau Dashboard is provided to aid our work. Year 8 May Calendar Eor Year 8, prepare the accounts, amounts, and balances to be reported in the accounts payable subsidiary ledger at the end of May. Important! Be sure to click the correct Year at the top of the dashboard. For Year 8, prepare the accounts, amounts, and balances to be reported in the accounts payable subsidiary ledger at the end of May. Important! Be sure to click the correct Year at the top of the dashboardStep by Step Solution
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