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if possible can yoh guys please answer all 3, thank you very much in advance On September 1, 2022, Ivanhoe Company establishes petty cash fund
if possible can yoh guys please answer all 3, thank you very much in advance
On September 1, 2022, Ivanhoe Company establishes petty cash fund by issuing a check for $270 to Michael Jones, the custodiano the petty cash fund on September 30, 2022, Michael vouchers for re n t of the tych dwhen there in the sweted the following detty cash Freight Supplies Expense Entertainment of clients Postage Expense 31 Prepare the journal entries required to establish the petty cash fund on September 1 and the replenishment of the fund on September 30.Odit accounts are automatically indented when the amount is entered. Do not indent mortal Record Journal entries in the order presented in the problem) Accounts and plante The following information is available from the annual reports of Splish Brothers Inc and Blossom Company Companies. Blossom Company Sales (In millions) Splish Brothers Inc. $121,000 24,600 16,500 $43,800 3,900 Beginning receivables, net Ending receivables, net 4,100 Based on the preceding information, compute the following for each company: (Round answers to 1 decimal place, es. 15.2. Use 365 days for calculation) 1. Accounts receivable turnover. (Assume all sales were credit sales.) 2. Average collection period. Splish Brothers Inc. Blossom Company 1. Accounts receivable turnover times times 2. Average collection period days days is 400. Both companies the perpetratory On September , Robertas Kriracles by merchandise on account from Blossom Company. The selling price of the pooh is $1,000 and the cost of Ond c ertainly Indented when the mantere Det Industry 1. Journalize the transactions on the books of Robertas Knicksnacks Date Account Titles and Explanation Debit Sept. 1 000 4 Accounts Payable 2. Journalize the transactions on the books of Blossom Company Date Account Titles and Explanation Sept. 4 Accounts Receivable Credit To record credit sale Cost of Goods Sold (To record cost of good sold) Step by Step Solution
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