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. Please help me complete the journal entries and subsidiary ledger. Smith Auto uses a sales journal, purchases journal, cash receipts journal, cash payments journal,
.Please help me complete the journal entries and subsidiary ledger.
Smith Auto uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. July 3 The company purchased $3,500 of merchandise on credit from Advanced Parts, terms n/60. July 6 The company sold $800 of merchandise for cash (cost is $650 ) to 0'Reily. July 7 The owner, A. Smith, contributed equipment worth $5,800 to the company. July 9 The company sold $950 of used equipment (noninventory) on credit to Junk Yard, terms n/30. July 13 The company sold $4,000 of merchandise (cost is $3,600 ) on credit to J. Bell, terms n/30. July 15 The company granted J. Bell an allowance (price reduction) of $580 for merchandise purchased on July 13 . Smith Auto credited accounts receivable for that amount. July 22 The company purchased a building for $28,000 by issuing a note payable. July 26 The company paid salaries of $4,800 with cash. 1. Journalize its transactions that should be recorded in the general journal. 2. Identify the journal where each of the following transactions should be recorded. Complete this question by entering your answers in the tabs below. Journalize its transactions that should be recorded in the general journal. Note: If the transaction is not recorded in the general journal, select "Not recorded in general journal" in the first account field. Journal entry worksheet \begin{tabular}{lllllllll} 2 & 3 & 4 & 5 & 6 & 7 & 8 & > \end{tabular} The company purchased $3,500 of merchandise on credit from Advanced Parts, terms n/60. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Journalize its transactions that should be recorded in the general journal. Note: If the transaction is not recorded in the general journal, select "Not recorded in general journal" in the first account field. 1 The company purchased $3,500 of merchandise on credit from Advanced Parts, terms n/60. 2 The company sold $800 of merchandise (cost is $650 ) for cash to O'Reily. 3 The owner, A. Smith, contributed equipment worth $5,800 to the company. 4 The company sold $950 of used equipment (noninventory) on credit to Junk Yard, terms n/30. 5 The company sold $4,000 of merchandise (cost is $3,600 ) on credit to J. Bell, terms n/30. Note : = journal entry has been entered Complete this question by entering your answers in the tabs below. Journalize its transactions that should be recorded in the general journal. Note: If the transaction is not recorded in the general journal, select "Not recorded in general journal" in the first account field. 4 The company sold $950 of used equipment (noninventory) on credit to Junk Yard, terms n/30. 5 The company sold $4,000 of merchandise (cost is $3,600 ) on credit to J. Bell, terms n/30. 6 The company granted J. Bell an allowance (price reduction) of $580 for merchandise purchased on July 13. Smith Auto credited accounts receivable for that amount. Credit 7 The company purchased a building for $28,000 by issuing a note payable. 8 The company paid salaries of $4,800 with cash. Note : = journal entry has been entered Smith Auto uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. July 3 The company purchased $3,500 of merchandise on credit from Advanced Parts, terms n/60. July 6 The company sold $800 of merchandise for cash (cost is $650 ) to 0'Reily. July 7 The owner, A. Smith, contributed equipment worth $5,800 to the company. July 9 The company sold $950 of used equipment (noninventory) on credit to Junk Yard, terms n/30. July 13 The company sold $4,000 of merchandise (cost is $3,600 ) on credit to J. Bell, terms n/30. July 15 The company granted J. Bell an allowance (price reduction) of $580 for merchandise purchased on July 13 . Smith Auto credited accounts receivable for that amount. July 22 The company purchased a building for $28,000 by issuing a note payable. July 26 The company paid salaries of $4,800 with cash. 1. Journalize its transactions that should be recorded in the general journal. 2. Identify the journal where each of the following transactions should be recorded. Complete this question by entering your answers in the tabs below. Identify the journal where each of the following transactions should be recordedStep by Step Solution
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