Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Instructions Chart of Accounts-Sather Co. Chart of Accounts-Boone Co. Journal-Sather Co. Co. | Chart of Accounts-Sather Co. Chart of Instructions General Ledger On March 1,
Instructions Chart of Accounts-Sather Co. Chart of Accounts-Boone Co. Journal-Sather Co. Co. | Chart of Accounts-Sather Co. Chart of Instructions General Ledger On March 1, Sather Co. sold merchandise to Boone Co. on account, $31,800, terms 215, n 30. The cost of the merchandise sold is $19,000. The merchandise was paid for on March 14. CHART OF ACCOUNTS ASSETS REVENUE Boonc Co. 110 Cash 410 Sales 121 Accounts 610 Rent Revenue General Ledger ASSETS REVENUE Jounalize the entries for Sather Co and Boonc Co. for the saic purchase, and payment of amount due. Refer to the appropriate company's Chart of Accounts for exact wording of account tifles. Boone Co. EXPENSES 125 Notes Receivable 501 Cost of 110 Cash 410 Sales 130 Merchandise Merchandise 120 Accounts 610 Rent Revenue 521 Delivery 125 Notes Receivable EXPENSES 140 Office Supplies 141 Store Supplies 142 Prepaid 130 Merchandise 501 Cost of 522 Advertising Merchandise 140 Office Supplies 141 Store Supplies 142 Prepaid Insuranoe 524 Depreciation 521 Delivery 180 Land 192 Store Equipment 193 Accumulated Equipment 522 Advertising 180 Land 192 Store Equipment 193 Accumulated Depreciation- Store Equipment 524 Depreciation Equipment 194 Office Equipment 531 Rent Expense Equipment Depreciation- Store Equipment 195 Accumulated 533 Insurance 525 Depreciation Office Equipment 194 Office Equipment 534 Store Supplies Equipment 195 Accumulated heck My Work 2 more Check My Work uses remaining
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started