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***please see attached excel for questions**** 7-1A Kozma Companys chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable

***please see attached excel for questions**** 7-1A

Kozma Companys chart of accounts includes the following selected accounts.

101Cash401Sales Revenue
112Accounts Receivable414Sales Discounts
120Inventory505Cost of Goods Sold
301Owners Capital

On April 1 the accouts receivable ledger of Kozma Company showed the following balances: Morrow $1,589, Rose $1,187, Jennings Co. $2,935, and Dent $2,150. The April transactions involving the receipt of cash were as follows.

Apr. 1The owner, T. Kozma, invested additional cash in the business $7,115.
4Received check for payment of account from Dent less 2% cash discount.
5Received check for $964in payment of invoice no. 307 from Jennings Co.
8Made cash sales of merchandise totaling $7,205. The cost of the merchandise sold was $4,323.
10Received check for $647in payment of invoice no. 309 from Morrow.
11Received cash refund from a supplier for damaged merchandise $767.
23Received check for $1,141in payment of invoice no. 310 from Jennings Co.
29Received check for payment of account from Rose.

image text in transcribed Problem 7-1A Kozma Company's chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold 301 Owner's Capital On April 1 the accouts receivable ledger of Kozma Company showed the following balances: Morrow $1,589, Rose $1,187, Jennings Co. $2,935, and Dent $2,150. The April transactions involving the receipt of cash as follows Apr. 1 The owner, T. Kozma, invested additional cash in the business $7,115. 4 Received check for payment of account from Dent less 2% cash discount. 5 Received check for $964 in payment of invoice no. 307 from Jennings Co. 8 Made cash sales of merchandise totaling $7,205. The cost of the merchandise sold was $4,323. 10 Received check for $647 in payment of invoice no. 309 from Morrow. 11 Received cash refund from a supplier for damaged merchandise $767. 23 Received check for $1,141 in payment of invoice no. 310 from Jennings Co. 29 Received check for payment of account from Rose. Journalize the transactions above in a six-column cash receipts journal and cross-foot the journal. (Record entries in the order displayed in the problem statement.) Cash Receipts Journal CR1 Date Account Credited Ref. Cash Dr. Sales Discounts Dr. Accounts Receivable Cr. Sales Other Revenue Accounts Cr. Cr. Cost of Goods Sold Dr. Inventory Cr. 301 120 -101 -414 -112 -401 (X) (505)(120) Insert the beginning balances in the Accounts Receivable control and subsidiary accounts, and post the April transactions to these accounts. (Post entries in the order of entries presented in the previous part.) General Ledger Accounts Receivable Date No. 112 Explanation Balance Ref Debit Credit Balance Debit Credit Balance Debit Credit Balance Debit Credit Balance Debit Credit Balance CR1 Accounts Receivable Subsidiary Ledger Morrow Date Explanation Balance Ref CR1 Rose Date Explanation Balance Ref CR1 Jennings Co. Date Explanation Balance Ref CR1 CR1 Dent Date Explanation Balance Ref CR1 Prove the agreement of the control account and subsidiary account balances. Accounts receivable balance $ Subsidiary account balances $ Total $

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