Carney Company, which is a medium-sized firm, uses a voucher system. Record each of the following entries
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Carney Company, which is a medium-sized firm, uses a voucher system. Record each of the following entries in general journal form. Assume that Carney Company records all vouchers at gross.
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201X June 7 Voucher no. 50 was prepared for the purchase of $7,400 of merchandise on account from Nathan Company; terms 4/10, n/30. 10 Voucher no. 51 was prepared for the purchase of $3,700 of equipment on account; terms 4/10, n/30. 16 Check no. 55 was issued in payment of voucher no. 51. 22 Check no. 56 was issued in payment of voucher no. 50.
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201X June 7 Purchases 7 4 0 0 00 Vouchers Payable ...View the full answer
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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