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Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal. Accounting journal shows a company's debit and credit balances.
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- Le Univ of Mass * Cengage D: A QuickLaunch K myCourses Da: x In Federa x UMassD Logor x ucation.com Saved ework View transaction list Journal entry worksheet 10 earch 近9) When a customer deposit is recorded using the Make Deposits window, behind the screen QuickBooks converts the transactions into a journal entry that:A) Debits Checking account, Credits Undeposited FundsB) Credits Checking account, Debits Undeposited FundsC) Debits Checking account, Credits Accounts ReceivableD) Debits Accounts Receivable, Credits Checking account Group of answer choices A B C DJournalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST. Note: Any available cash discount is taken only on the sale price before taxes. Aug. 1 Purchased $2,100 of merchandise for cash. 2 Purchased $6,900 of merchandise; terms 3/10, n/30. 5 Sold merchandise costing $3,700 for $5,300; terms 2/10, n/30. 12 Paid for the merchandise purchased on August 2. 15 Collected the amount owing from the customer of August 5. 17 Purchased $6,100 of merchandise; terms n/15. 19 Recorded $7,100 of cash sales (cost of sales $5,900). View transaction list Journal entry worksheet 6 7 8 > 1 2 3 4 Record the cash purchase. Note: Enter debits before credits.
- The shorthand notation on an invoice 2/10, n/30 is called the _______________. Group of answer choices accounts payable debit memo credit terms purchase orderFill in the missing amounts in the accounts receivable subsidiary ledgers for Willis Spas and Pools. If required, round your intermediate and final answers to the nearest cent. ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 3 J60 3,816.00 3,816.00 Aug. 18 J60 4,589.80 fill in the blank 1 J60 105.00 fill in the blank 2You just posted a debit to ABC Co. in the accounts receivable subsidiary ledger. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
- NOTES PAYABLE ENTRIES Milo Radio Shop had the following notes payable transactions: REQUIRED Record the transactions in a general journal.NOTES RECEIVABLE ENTRIES M. L. DiMaurizio had the following notes receivable transactions: REQUIRED Record the transactions in a general journal.How do I record this transaction; Issues credit memo to Targhee Co., $27500, terms FOB shipping point, 1/10, n/30?
- Print Item From the data below for Wong Company, prepare the closing entries for the year ended December 31. Cash dividends $47,000 Sales 982,600 Sales returns and allowances 3,960 Interest revenue 10,521 Factory overhead (debit) 210,620 Factory overhead (credit) 210,620 Cost of goods sold 726,820 Wages expense 130,745 Supplies expense 9,900 Depreciation expense-office equipment 6,900 Utilities expense 5,840 Bad debt expense 1,680 Advertising expense 11,120 Interest expense 9,860 Income tax expense 32,050 If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDITJournalizing Purchases Returns and Allowances and Posting to General Ledger and Accounts Payable Ledger Transactions for July and the beginning balances for selected general ledger and accounts payable ledger accounts are shown. July 7 Returned merchandise to Starcraft Industries, $750. 15 Returned merchandise to XYZ, Inc., $530. 27 Returned merchandise to Datamagic, $820. General Ledger Account No. Account Balance July 1, 20-- 202 Accounts Payable $10,640 501.1 Purchases Returns and Allowances Accounts Payable Ledger Name Balance July 1, 20-- Datamagic $2,680 Starcraft Industries 4,310 XYZ, Inc. 3,650 Required: Using page 3 of a general journal and the general ledger accounts and accounts payable ledger accounts, journalize and post the transactions. GENERAL JOURNAL PAGE 3 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Jul. 7 Jul. 15 Jul. 27 GENERAL LEDGER ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jul. 1 Balance 10,640.00engageNOWv2 | Online teachir X * CengageNOWv2| Online teachir x .com/ilrm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre. * A eBook Show Me How Accounts Receivable Analysis A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days Previous Next Check My Work 11:16 AM 67°F Sunny A O E D a ) 12/3/2021 n sc hone backsoce
