Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Do journal and the are pictures of account types for journal chart are last two photos 11 LL LLLUE Udidacions instructions Chart of Accounts Journal
Do journal and the are pictures of account types for journal chart are last two photos
11 LL LLLUE Udidacions instructions Chart of Accounts Journal Instructions The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer Co. sells and installs home and business security systems Jan. 3. Feb. 10 13 Mar. 12 14 Apr. 3 Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8% note. Sold merchandise on account to Bradford & Co. 524,000. The cost of the merchandise sold was $14,400 Sold merchandise on account to Dry Creek Co. 560,000. The cost of merchandise sold was $54.000 Accepted a 60-day, 7% note for $24.000 from Bradford & Co on account Accepted a 60-day, 99 note for $60,000 from Dry Creek Co on account Received the interest due from Trina Gelhaus and a new 120-day, 946 note as a renewal of the loan of January 3 (Record both the debit and the credit to the notes receivable account. Use a compound journal entry with debits before credits.) Received from Bradford & Co the amount due on the note of March 12. Dry Creek Co. dishonored its note dated March 14 Received from Dry Creek Co the amount owed on the dishonored note plus interest for 60 days at 12 computed on the maturity value of the note May 11 13 July 12 Aug. 1. Oct. 5. Received from Trina Gelhaus the amount due on her note of April 3. Sold merchandise on account to Halloran Co., $13,500. The cost of the merchandise sold was $8,100. Received from Halloran Co, the amount of the invoice of October 5. 15. Required: Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360- day year when calculating interest ACCOUNTING EQUA JOURNAL ACCES LILITIES POST REF. DEBIT DESCRIPTION Previous CHART OF ACCOUNTS Caldemeyer Co. General Ledger REVENUE 410 Sales 420 Sales Discounts 610 Interest Revenue ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Bradford & Co. 122 Accounts Receivable-Dry Creek Co. 123 Accounts Receivable-Trina Gelhaus 124 Accounts Receivable-Halloran Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 623 Delivery Expense Chart of Accounts 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment * 194 Accumulated Depreciation Office Equipment 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office 533 Insurance Expense s 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668570bcbce55_180668570bc1060f.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668570bd57e3c_181668570bd0d403.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668570be67bcd_181668570bdc345d.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668570bf50c92_182668570bea1003.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668570c04acc1_183668570bf9541b.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started