Question
Johnson & Johnson Enter the following transactions in the appropriate accounts: 20X9 Sep 1 Started business with $75,000 cash. Sep 2 Paid $67,500 of the
Johnson & Johnson
Enter the following transactions in the appropriate accounts:
20X9
Sep 1 Started business with $75,000 cash.
Sep 2 Paid $67,500 of the opening cash into the bank.
Sep 4 Bought goods on credit $6,500 from E. Hayes.
Sep 5 Bought a truck by cheque $30,000.
Sep 7 Bought goods for cash $3,200.
Sep 10 Sold goods on credit $7,000 to J. Wilson.
Sep 12 Returned goods to E. Hayes $1,500.
Sep 19 Sold goods for cash $2,000.
Sep 22 Bought office fixtures on credit from Office Depot $8,000.
Sep 24 P. Thomas lent us $6,500 paying us the money by cheque.
Sep 29 We paid E. Hayes his account by cheque $5,500.
Sep 31 We paid Office Depot by cheque $8,000.
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