Completed a photo shoot for $2,750. The customer paid with a cheque on the day of the shoot.what is debit and credit?
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Completed a photo shoot for $2,750. The customer paid with a cheque on the day of the shoot.what is debit and credit?
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- Which Journal? If you received a check from Mr. Jones for $500 for work you performed last week, which journal wouldyou use to record receipt of the amount they owed you? What would be recorded?is the answer to this question correct If you received a check from Mr. Jones for $500 for work you performed last week, which journal would you use to record receipt of the amount they owed you? What would be recorded? This transaction will be recorded in the Cash Receipts Journal. The receipt of cash from the sale of goods, as payment on accounts receivable or from other transactions, is recorded in a cash receipts journal with a debit to cash and a credit to the source of the cash, whether that is from sales revenue, payment on an account receivable, or some other account. Chapter 7 Accounting Information Systems out of Principles of Accounting, Volume 1. CASH RECEIPTS JOURNAL Date Account Cash DR Accounts Receivable CR 2022 Mar.13 Mr. Jones $ 500 $ 500Emporium bank lends money to a customer on a six month note. What journal entry does the bank prepare? A. Debit note receivable and credit cash B. Debit cash and credit note receivable C: debit note receivable and credit service revenue D. Debit cash and credit note payable
- Record the following transactions. 1. Pay employee salaries of $600 by issuing checks. 2. Purchase computer equipment of $1,000 using a credit card. 3. Pay for maintenance of $400 for a company vehicle using a debit card.what is the correcting entry for... receiving $7000 cash advance from a customer for future copyingLizzie Gunderson is trying to establish a credit history and has a Visa charge card. She received a September 3 statement that shows a balance of $254.80 from the previous month. The statement shows the following transactions: payment on September 12 of $50, charge on September 15 of $35.18, charge on September 20 of $120, and a final charge on October 2 of $14.60. Calculate the average daily balance for September.
- can someone help me with journal entry with the following entries? Prepare journal entries for the following: Beginning Balance in Accounts Receivable: 12,000 Beginning Balance in Allowance: credit of 1,000 On March 31, customers were billed $25,000. On June 15, cash collections from transaction (a) totaled $20,000. On 10/31, a customer balance of $1500 from a prior year was written off. On 12/15, a customer paid an old balance of $900 that had been written off in a previous year. On 12/31, bad debts were estimated at 2% of credit sales.A dress shop makes a large sale for $1,000O on November 30. The customer is given a bill, and the customer mails in a cheque for payment on December 5th. The dress shop receives the cheque on December 8th and deposits it at the bank on December 10. The dress shop follows Accounting Principles and recognizes revenue accordingly. When is the $1,000 considered to be earned? O December 8 O December 5 November 30 O December 10Miranda Corp. received an order from a customer on October 1. The toys were shipped on October 15. The customer sent a check for full payment on November 5. Miranda received the check on November 10 and deposited it in the bank account. Miranda should record sales revenue related to this series of transactions on ___ .
- Received a check for $72 from a customer, Mr. White. Mr. White owed you $124. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalYour company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalDirections: Record checks, a check card payment, an ATM transaction and a deposit in the checkbook register below. Include the date, description, and amount of each entry. Calculate the balance. 1. May 26: write beginning balance of $527.96. 2. May 27: write check #107 to Mrs. Wilson. You pay your landlord your share of the rent payment: $225.00. May 28: make a check card payment to Foodland. You pay $22.52 for groceries. 3. 4. June 1: write check #108 to Bank of Illinois. You make a car payment of $165.23. 5. June 2: write check #109 to Interstate Phone Service for $62.77. 6. June 2: use your ATM card to withdraw $20.00. 7. June 15: you deposit your paycheck for $425.00. Write this amount in the DEPOSIT column.
