Question
How to input these questions into a general journal and general ledger. The beginning balance on the ledger under 'A/P - Canola Products' is 60,000.
How to input these questions into a general journal and general ledger. The beginning balance on the ledger under 'A/P - Canola Products' is 60,000.
May 3 | Received a credit memorandum from Canola Products for merchandise received on April 29 and that we returned for credit this morning. | |
The amount of the return was: | $1,000.00 |
May 8 | Issued cheque #3412 to Canola Products to pay for the merchandise received on April 29 (terms of the purchase had been 2/10 n/30). |
May 30 | Issued cheque # 3416, payable to Al's Delivery Services for the following transaction: - shipping cost for incoming merchandise | $450.00 |
Step by Step Solution
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Step: 1
1 Entering transactions into General Journal General Journal May 3 Credit memo received from Can...
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
