Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Record journal entries and post them in ledger accounts then prepare a trial balance WEEK 3 TRANSACTIONS Sep-20 Sale on account to Sassy's Dip Shop

Record journal entries and post them in ledger accounts then prepare a trial balance
   

WEEK 3 TRANSACTIONS Sep-20 Sale on account to Sassy's Dip Shop for $700, Inv. 5. Sep-21 A cash customer returned un-opened cartons of ice cream. The customer received a full refund of $50 in cash. Sep-22 Sales on account to the Stay-a-While Inn for $400, Inv. 6. Sep-22 Grace Lovell, a valued customer, paid $100 in advance for ice cream that will be delivered to her home on October 14. Sep-22 Joe's Repairs fixed a part on one of the refrigerators for $300. Paid cash for repairs, Inv. 225. Sep-22 Paid $5,000 cash payment to Bud's Dairy on Inv. 101. Sep-23 Purchased merchandise on account from Sky Mountain Chocolate Factory for $1,250, Inv. 343 Sep-24 Received payment of $100 from Dale's Treats who purchased on credit during week 1, Inv. 3 Sep-24 Jo and Mo withdrew $6,000 for personal use. Sep-25 Purchased ice cream from Bud's Dairy at a cost of $8,000 on account, Inv. 187 Sep-26 Week 3 (Sept 19-25) cash sales were $8,120. ACCURACY CHECKPOINT-VALIDATE THAT TOTALS MATCH CHECK FIGURES BEFORE PROCEEDING Journals General Cash Payments Cash Receipts Purchases Sales $232,180.00 $59,350.00 $22,111.00 $29,950.00 $4,700.00 Trial Balance Debit Balance: Credit Balance $ $239,780.00 $189,971.25

Step by Step Solution

3.39 Rating (149 Votes )

There are 3 Steps involved in it

Step: 1

Journal Entries Date Account Titles and Explanation Debit Credit Sep 20 Accounts Receivable 700 Sa... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Financial and Managerial Accounting

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

5th edition

9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292

More Books

Students also viewed these Accounting questions

Question

Explain all drawbacks of application procedure.

Answered: 1 week ago

Question

Show that for any three events A, B, and C with .

Answered: 1 week ago