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Need help with the general journal, cash receipts journal, cash payments journal, purchase journal, sales journal accounts receivable ledger, accounts payable ledger. on October 3
Need help with the general journal, cash receipts journal, cash payments journal, purchase journal, sales journal accounts receivable ledger, accounts payable ledger.
on October Madison taught oa group of first graders how to make Gerbegingerbread cookies for $
At the beginning of November, Madison decides to expand her business by selling fine European mixers. The owner of Batter Blender Supply Co has approached Madison to become the exclusive distributor of these fine mixers in her state. The current cost of a mixer is $ and Madison plans to sell each mixer for $ Each appliance has a serial number and can be easily identified. Madison uses the perpetual inventory system to account for these fine mixers. She also decides to start using special journals and subsidiary ledgers to help keep track of her new customers and vendors, sales and purchases, and cash flows. Hint: Refer to Chapter to calculate the cost of inventory.
The following transactions occurred during the month of November.
Nov. Bought five mixers on account from Batter Blender Supply Co for $ terms
Paid $ freight on the November purchase. Check
Bought four mixers on account from Batter Blender Supply Co for $ terms n
Madison is concerned that there is not enough cash available to pay for all of the mixers purchased. She invests an additional $ cash in Sweet Treats.
Paid $ freight on the November purchase. Check
Madison issued a check to her assistant for all the help at the elementary school on October Recall this amount was accrued at the end of October. Check
Paid a $ cell phone bill Hint: Use Utilities Expense Check
Paid Batter Blender the amount due from the November purchase. Check
Collected $ from the October transaction with Newbury Elementary School.
Three mixers are sold to Peter's Pastries on account for $ terms Invoice Hint: You must record both the revenue and expense components on all sales transactions.
Sold three mixers for $ cash.
Paid Batter Blender the amount due from the November purchase. Check
Paid her assistant for the last two weeks of November in the amount of $ Check
Madison withdrew $ cash for personal use. Check
As of November the following adjusting entry data is available.
A count of baking supplies reveals that none were used in November.
Another month's worth of depreciation needs to be recorded on the baking equipment bought in October.
One month's worth of insurance has expired.
Madison records another month of accrued interest on her grandma's loan.
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