Question
Journalize the five transactions for Miramax Rentals: August 1- Miramax purchases two new saws on credit at $375 each. The saws are added to Miramax's
Journalize the five transactions for Miramax Rentals:
August 1- Miramax purchases two new saws on credit at $375 each. The saws are added to Miramax's rental inventory. Payment is due in 30 days.
August 8- Miramax accepts advance deposits for tool rentals of $75 that will be applied to the cash rental when the tools are returned.
August 15- Miramax receives a bill from Macon utility company for $150. Payment is due in 30 days.
August 20- Customers are charged $750 by Miramax for tool rentals. Payment is due from the customer in 30 days.
August 31- Miramax receives $500 in payments from the customers that were billed for rentals on August 20.
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Accounting And Financial Management For Residential Construction
Authors: Emma Shinn
5th Edition
0867186356, 978-0867186352
