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Category > Accounting Posted 01 Jun 2017 My Price 6.00

ACC 225 Prepare headings for a cash receipts journal

 

Exercise 7-4 (E7-4) Moeder 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 Purchased $3,100 of merchandise on credit from Hargrave Co., terms n 20.
7 Sold merchandise costing $840 on credit to J. York for $900, subject to a $18 sales discount if paid by the end of the month.
9 Borrowed $2,750 cash by signing a note payable to the bank.
13 J. Emling, the owner, contributed $4,000 cash to the company.
18 Sold merchandise costing $130 to B. Box for $230 cash.
22 Paid Hargrave Co. $3,100 cash for the merchandise purchased on November 3.
27 Received $882 cash from J. York in payment of the November 7 purchase.
30 Paid salaries of $1,600 in cash.

Prepare headings for a cash receipts journal like the one in Exhibit 7.7. Journalize the November
transactions that should be recorded in the cash receipts journal.
 
 

Answers

Alpha Geek
(8)
Status NEW Posted 01 Jun 2017 12:06 PM My Price 6.00

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Attachments

file 1496319238-Answer.docx preview (189 words )
E-----------xer-----------cis-----------e 7------------4 -----------(E7------------4)----------- Mo-----------ede-----------r C-----------o. -----------use-----------s a----------- sa-----------les----------- jo-----------urn-----------al,----------- a -----------pur-----------cha-----------ses----------- jo-----------urn-----------al,----------- a -----------cas-----------h r-----------ece-----------ipt-----------s j-----------our-----------nal-----------, a----------- ca-----------sh -----------dis-----------bur-----------sem-----------ent-----------s j-----------our-----------nal-----------, a-----------nd -----------a g-----------ene-----------ral----------- jo-----------urn-----------al.----------- Th-----------e f-----------oll-----------owi-----------ng -----------tra-----------nsa-----------cti-----------ons----------- oc-----------cur----------- in----------- th-----------e m-----------ont-----------h o-----------f N-----------ove-----------mbe-----------r.N-----------ov.----------- 3 -----------Pur-----------cha-----------sed----------- $3-----------,10-----------0 o-----------f m-----------erc-----------han-----------dis-----------e o-----------n c-----------red-----------it -----------fro-----------m H-----------arg-----------rav-----------e C-----------o.,----------- te-----------rms----------- n -----------20.-----------7 S-----------old----------- me-----------rch-----------and-----------ise----------- co-----------sti-----------ng -----------$84-----------0 o-----------n c-----------red-----------it -----------to -----------J. -----------Yor-----------k f-----------or -----------$90-----------0, -----------sub-----------jec-----------t t-----------o a----------- $1-----------8 s-----------ale-----------s d-----------isc-----------oun-----------t i-----------f p-----------aid----------- by----------- th-----------e e-----------nd -----------of -----------the----------- mo-----------nth-----------.9 -----------Bor-----------row-----------ed -----------$2,-----------750-----------
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