Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
HII i need help with few questions please. Please give me correct answers and not wrong answers with step by step solution. And also please
HII i need help with few questions please. Please give me correct answers and not wrong answers with step by step solution. And also please write clean so i can see. Thank you.
I only need help with this question is to make journal entry. for each transaction please tell me which journal to use like cash recipts, Cash payment etc.. And put the amounts and entity in that journal please.
- Tuesday is the day Ian likes to cut checks for payment of A/P accounts. First thing in the morning, you print out the Schedule of Accounts Payable and put it on his desk so he can decide which ones he would like to have paid. You also write on the schedule the balance that's in the checking account based on the amount in the check register. Today, Ian would like you to pay the balances in the following accounts:
- Hemlock Gas and Electric Co.
- The Home Improvement Center
- Atlantic Telephone Co.
- Two Guys Hardware
- Cheryl Wood Designs
- Beginning with Check No. 2260, write consecutive checks for each A/P account in the correct amount, adjust the check register accordingly, and place the checks on Ian's desk for his signature. When he returns the checks to you, you'll mark the invoices as paid and mail a copy of the invoices with the checks to the vendors. (For purposes of this project, it has been assumed that you have the invoices making up the amounts in the accounts and that they're correct, even though you don't have the details for November 20XX.) Make the correct journal entries for payment of the accounts and post to the proper G/L and subsidiary accounts.
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a692151_974667e28a679265.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a6de03c_974667e28a6c2ce6.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a73e36a_975667e28a727d2a.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a78f9c6_975667e28a76ffdb.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a7d3e5e_975667e28a7c2639.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a82660f_976667e28a81686c.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a870d8d_976667e28a84e9f1.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a8b3b45_976667e28a89e189.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a8f1b4f_976667e28a8de18a.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a941d7b_977667e28a92f9f5.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a97c676_977667e28a96a3a3.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28a9c647e_977667e28a9b27a7.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667e28aa3ce96_978667e28aa25d9d.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