Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) 3 4 Purchased supplies for cash $90. 4 Sold merchandise on account to Wheeler $6,660, invoice no. 371, terms 1/10,n/30. 5 Returned $400 worth of damaged goods purchased on account from Gallagher Co. on January 3. 6 Made cash sales for the week totaling $3,850. 8 Purchased merchandise on account from Phegley Co. $5,400. 9 Sold merchandise on account to Linton Corp. $5,200, invoice no. 372 , terms 1/10,n/30. 11 Purchased merchandise on account from Cora Co.$3,570. 13 Paid in full Gallagher Co. on account less a 2% discount. 13 Made cash sales for the week totaling $5,890. 15 Received payment from Linton Corp, for irvoice no. 372. 15 Paid semi-monthly salaries of $14,100 to employees. 17 Received payment from Wheeler for invoice no. 371 . 17 Sold merchandise on account to Delaney Co. $2,710, invoice no, 373 , terms 1/10,n/30. 19 Purchased equipment on account from Dozier Corp. $5,840. 20 Cash sales for the week totaled $2,980. 20 Paid in full Phegley Co. on account less a 2% discount. 23 Purchased merchandise on account from Gallagher Co. $7,340. 24 Purchased merchandise on account from Atchison Corp, \$5,170. 27. Made cash sales for the week totaling $4,010. 30 Received payment from Delaney Co, for invoice no. 373. 20 Paid in full Phegley Co. on account less a 2% discount. 23 Purchased merchandise on account from Gallagher C0, $7,340. 24 Purchased merchandise on account from Atchison Corp. $5,170. 27 Made cash sales for the week totaling $4,010. 30 Received payment from Delaney Co. for imvoice no. 373. 31 Paid semi-monthly salaries of $12,190 to employees. 31 Sold merchandise on account to Wheeler $9,870, invoice no. 374, terms 1/10,n/30. Cash Receipts Journal \begin{tabular}{lllcc} Date Account Credited & Ref. & Accounts Recei \\ Cr. \end{tabular} Inventory Cr. Cash Cr. (120) (101) Presented below are selected accounts from the chart of accounts of Crane Company. Record and post the January transactions in the appropriate journat noted. Foot and cross foot all special journals. (Record entries in the order displayed in the problem statement.) Cash Payments Journal \begin{tabular}{l} Date \\ = \\ \hline \end{tabular} Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Invent 126 726 726 (X) (201) (12

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

Essentials Of Marketing

Authors: David Brown, Alex Thompson

1st Edition

0367773422, 9780367773427

More Books

Students also viewed these Accounting questions

Question

10.3 Discuss the five steps in the performance management process.

Answered: 1 week ago