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Journalize the following entries on the books of Winston Co. for August 1, September 1, and November 30. (Assume a 360-day year is used for
Journalize the following entries on the books of Winston Co. for August 1, September 1, and November 30. (Assume a 360-day year is used for interest calculations.) Refer to the Chart of Accounts for exact wording of account titles.
Aug. 1 | Winston Co. purchased merchandise for $75,000 on account from Bagley Co., terms n/30. |
Sept. 1 | Winston Co. issued a 90-day, 6% note for $75,000 on account. |
Nov. 30 | Winston Co. paid the amount due. |
CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Winston Co. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Journalize the entries on the books of Winston Co. for August 1, September 1, and November 30. (Assume a 360-day year is used for interest calculations.) Refer to the Chart of Accounts for exact wording of account titles.
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JOURNAL
DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | |
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