Business, 25.07.2020 05:01 Ashtree519

Cash receipts journal-perpetual LO P1 Ali Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of November. Nov. 3 The company purchased $4,100 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $1,082 on credit to J. Than for $1,189, subject to a $24 sales discount if paid by the end of the
month.
9 The company borrowed $3,125 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,425 cash to the company.
18 The company sold merchandise costing $172 to B. Cox for $306 cash.
22 The company paid Hart Co. $4,100 cash for the merchandise purchased on November 3.
27 The company received $1,165 cash from J. Than in payment of the November 7 purchase.
30 The company paid salaries of $2,050 in cash.

Required:
Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 04:30

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Answers: 1

Answer

Business, 22.06.2019 15:20

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.

Answers: 3

Answer

Business, 22.06.2019 23:40

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.

Answers: 3

Answer

Business, 23.06.2019 02:50

Dakota company experienced the following events during 2016. 1. acquired $30,000 cash from the issue of common stock. 2. paid $12,000 cash to purchase land. 3. borrowed $10,000 cash. 4. provided services for $20,000 cash. 5. paid $1,000 cash for utilities expense. 6. paid $15,000 cash for other operating expenses. 7. paid a $2,000 cash dividend to the stockholders. 8. determined that the market value of the land purchased in event 2 is now $12,700

Answers: 1

Answer

You know the right answer?

Cash receipts journal-perpetual LO P1 Ali Co. uses a sales journal, a purchases journal, a cash rece...

Questions