100 Cash Chart of Accounts 101 Petty Cash 102 Supplies 103 Accounts Receivable - A. Michaels...
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100 Cash Chart of Accounts 101 Petty Cash 102 Supplies 103 Accounts Receivable - A. Michaels 200 HST Payable 201 HST Recoverable 400 Sales 401 Interest Earned 402 Sales Discount 500 Bank Service Charges 501 Delivery Expense 502 Postage Expense 503 Miscellaneous Expense Transactions Nov 7 Cash sales slips totalled $3295 plus $428.35 HST. Cash was deposited. Issued Sales Invoice 87-B to A. Michaels, terms 3/15, n/30, amount $2000, plus HST 8 Received bank credit memo for $215, interest earned by the company 9 Received bank debit memo for $25, plus $3.25 HST, for the annual charge for a safety deposit box. Total $28.25 15 Received cheque from A. Michaels, $2056.40 for Invoice 87-B, less $63.60 discount. Cheque was deposited. Task 1.1: Read through the following word problem and complete the TWO journal entries that are relevant to the accounts and information given. Renfrew Services established a petty cash fund by issuing a $150 cheque on Sept. 1. By September 15, petty cash vouchers had been prepared for the following petty cash payments. A replenishing cheque was issued. Office Supplies - $45.00 Postage Expense - $50.00 Miscellaneous Expense - $22.50 Delivery Expense - $24.75 100 Cash Chart of Accounts 101 Petty Cash 102 Supplies 103 Accounts Receivable - A. Michaels 200 HST Payable 201 HST Recoverable 400 Sales 401 Interest Earned 402 Sales Discount 500 Bank Service Charges 501 Delivery Expense 502 Postage Expense 503 Miscellaneous Expense Transactions Nov 7 Cash sales slips totalled $3295 plus $428.35 HST. Cash was deposited. Issued Sales Invoice 87-B to A. Michaels, terms 3/15, n/30, amount $2000, plus HST 8 Received bank credit memo for $215, interest earned by the company 9 Received bank debit memo for $25, plus $3.25 HST, for the annual charge for a safety deposit box. Total $28.25 15 Received cheque from A. Michaels, $2056.40 for Invoice 87-B, less $63.60 discount. Cheque was deposited. Task 1.1: Read through the following word problem and complete the TWO journal entries that are relevant to the accounts and information given. Renfrew Services established a petty cash fund by issuing a $150 cheque on Sept. 1. By September 15, petty cash vouchers had been prepared for the following petty cash payments. A replenishing cheque was issued. Office Supplies - $45.00 Postage Expense - $50.00 Miscellaneous Expense - $22.50 Delivery Expense - $24.75
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