Sabin Corporation uses a voucher system and records invoices at gross. Record the following transactions in the
Question:
Sabin Corporation uses a voucher system and records invoices at gross. Record the following transactions in the voucher register and/or check register as appropriate:
201X
July 5 Purchased merchandise for $1,900 from Daisy Company; terms 5/10, n/30; voucher no. 280 was prepared authorizing payment on July 15.
8 Purchased merchandise for $8,000 from Hank Company; terms 2/10, n/30; voucher no. 281 was prepared authorizing payment on July 18.
15 Paid amount due Daisy Company from voucher no. 280; check no. 91.
18 Paid amount due Hank Company from voucher no. 281; check no. 92.
29 Voucher no. 282 was prepared for July rent to be paid to Lamar Realty, $2,300.
30 Purchased office equipment for $3,400 from Lucky Company; voucher no. 283 was prepared.
30 Paid amount due Lamar Realty from voucher no. 282; check no. 93.
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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