Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need you to write up a 3 Column Cash Book of the Transaction that was done with our company few months ago(July 2015) July

I need you to write up a 3 Column Cash Book of the Transaction that was done with our company few months ago(July 2015) July 1 Balance brought forward : Cash in Hand : $5000 Cash at Bank : $ 90,000 July 2 Received Cash loan of $25 ,000 from Partners . July 3 Bought goods of $156,000 July 4 Bought Motor Van paying by check $1,600 July 5 Cash Withdrawn from the bank $25,000 July 7 Paid Wages in Cash $16,000 July 8 Cash Drawings $10,000 July 10 Cash Sales paid directly into the bank $28,000 July 12 We paid the following Accounts by Check less 10% discount in each case: Marshal : $2,000 Linda : $1,600 Theresa : $1,800 July 13 The following paid us their Accounts by Check in each case deducting 2.5% Discount; Jerry : $980 Martins: $450 July 15 Receive a further loan of $2,500 July 16 We paid Brandy his account of $400 by Check July 18 Cash Sales $8,000 July 21 Paid Rent in Cash $1,800 July 23 Received Commission By Check $7,500 July 25 The following persons paid us their Accounts by check in each Case Deducting 5% Discount; Uson $500 David : $4,599 July 26 We paid the following Accounts paid by check in each case deducting 2% Discount; Joseph : $2000 Woroniecka : 1,200 July 28 Paid Insurance 8,900 July 29 Linda Paid us a check for $ 2,500 having deducted 200 for cash Discount.

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_2

Step: 3

blur-text-image_3

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

Financial Accounting For School Administrators Tools For School

Authors: Ronald E. Everett, Donald R. Johnson, Bernard W. Madden

3rd Edition

1610487710, 978-1610487719

More Books

Students also viewed these Accounting questions