iCompany uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and Ollowing transactions that should be recorded in the cash receipts journal. May 1 C. Li, the owner, contributed $9,400 cash to the company. May 7 The company purchased $5,400 of merchandise on credit from Gomez, terms n/30. May 9 The company sold merchandise costing $500 to E. James for $600 on credit, terms n/10. ay 15 The company borrowed $2,000 cash by signing a note payable to the bank. ay 18 The company received $600 cash from E. James in payment of the May 9 purchase. ay 24 The company sold merchandise costing $250 to B. Cox for $300 cash. CASH RECEIPTS JOURNAL
iCompany uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and Ollowing transactions that should be recorded in the cash receipts journal. May 1 C. Li, the owner, contributed $9,400 cash to the company. May 7 The company purchased $5,400 of merchandise on credit from Gomez, terms n/30. May 9 The company sold merchandise costing $500 to E. James for $600 on credit, terms n/10. ay 15 The company borrowed $2,000 cash by signing a note payable to the bank. ay 18 The company received $600 cash from E. James in payment of the May 9 purchase. ay 24 The company sold merchandise costing $250 to B. Cox for $300 cash. CASH RECEIPTS JOURNAL
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter12: Special Journals
Section: Chapter Questions
Problem 12SPB: PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND GENERAL JOURNAL Debbie Mueller owns a small retail...
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