Problem 7 1A Kozma Companys Problem 7 1A Kozma Companys 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 Owners Capital On April 1, the accounts receivable ledger of Kozma Company showed the following balances Morrow $1,510, Rose $1,160, Jennings Co $2,910, and Dent $2,430 The April transactions involving the receipt of cash were as follows Apr 1 The owner, T Kozma, invested additional cash in the business $7,170 4 Received check for payment of account from Dent less 2 cash discount 5 Received check for $935 in payment of invoice no 307 from Jennings Co 8 Made cash sales of merchandise totaling $7,225 The cost of the merchandise sold was $4,335 10 Received check for $575 in payment of invoice no 309 from Morrow 11 Received cash refund from a supplier for damaged merchandise $700 23 Received check for $1,110 in payment of invoice no 310 from Jennings Co 29 Received check for payment of account from Rose (no cash discount allowed) 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 Round answers to O decimal places, e g 5,275 ) Cash Receipts Journal CR1 Cost of Goods Sold Dr Inventory Cr DateAccount Credited Ref Cash Dr Sales Discounts Dr Accounts Receivable Cr Sales Revenue Cr Other Accounts Cr 1 , ner's Capital 301 7170 7170 ,4 IT Dent 2381 48 60 2430 Apr 5 Jennings Co 935 935 7225 575 70 7225 4335 , 10 ' Mori 575 11Inven 120 70 Apr 23 Jennings Co 29 116 116 21256 40 48 60 621 7225 7870 4335 (101) (414) (112) 401) (505)X120)

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Problem 7-1A Kozma Companys Problem 7-1A Kozma Companys chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414

Problem 7-1A Kozma Companys

Problem 7-1A

Kozma Companys 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	Owners Capital

On April 1, the accounts receivable ledger of Kozma Company showed the following balances: Morrow $1,510, Rose $1,160, Jennings Co. $2,910, and Dent $2,430. The April transactions involving the receipt of cash were as follows.

Apr. 1		The owner, T. Kozma, invested additional cash in the business $7,170.
4		Received check for payment of account from Dent less 2% cash discount.
5		Received check for $935 in payment of invoice no. 307 from Jennings Co.
8		Made cash sales of merchandise totaling $7,225. The cost of the merchandise sold was $4,335.
10		Received check for $575 in payment of invoice no. 309 from Morrow.
11		Received cash refund from a supplier for damaged merchandise $700.
23		Received check for $1,110 in payment of invoice no. 310 from Jennings Co.
29		Received check for payment of account from Rose (no cash discount allowed).

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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. Round answers to O decimal places, e.g. 5,275.) Cash Receipts Journal CR1 Cost of Goods Sold Dr. Inventory Cr DateAccount Credited Ref Cash Dr Sales Discounts Dr Accounts Receivable Cr Sales Revenue Cr Other Accounts Cr 1 , ner's Capital 301 7170 7170 ,4 IT Dent 2381 48.60 2430 Apr. 5 Jennings Co. 935 935 7225 575 70 7225 4335 , 10 ' Mori 575 11Inven 120 70 Apr. 23 Jennings Co. 29 116 116 21256.40 48.60 621 7225 7870 4335 (101) (414) (112) 401) (505)X120)