Samantha started bookstore in January 2023. Book store completed the following transactions during January of the...
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Samantha started bookstore in January 2023. Book store completed the following transactions during January of the current year: Began the bookstore by investing $15,000 in cash. Purchased computer equipment having a $5,000 fair value. Purchased furniture for $800 on credit. Signed promissory note. Purchased books for the store for $1,000 on credit from Savannah. Savannah's credit policy allows 45 days of credit. Supplied books worth $500 cash to a customer. Paid for the items purchased on credit on February 3. Paid $1,000 for the month's rent. Jan, 11 Jan. 2 Jan. 3 Jan. 4 Jan. 8 Jan. 10 Jan. 14 Savannah requests you to settle her account immediately and offers you a discount of 10% if you pay today. You agree to his offer and make the payment today, i.e., January 18, 2023 Jan. 27 Samantha withdrew $350 cash from the company to pay personal expenses. Jan. 28 Paid the January utility bills, $100. Prepare general journal entries to record the transactions. Jan, 18 Samantha started bookstore in January 2023. Book store completed the following transactions during January of the current year: Began the bookstore by investing $15,000 in cash. Purchased computer equipment having a $5,000 fair value. Purchased furniture for $800 on credit. Signed promissory note. Purchased books for the store for $1,000 on credit from Savannah. Savannah's credit policy allows 45 days of credit. Supplied books worth $500 cash to a customer. Paid for the items purchased on credit on February 3. Paid $1,000 for the month's rent. Jan, 11 Jan. 2 Jan. 3 Jan. 4 Jan. 8 Jan. 10 Jan. 14 Savannah requests you to settle her account immediately and offers you a discount of 10% if you pay today. You agree to his offer and make the payment today, i.e., January 18, 2023 Jan. 27 Samantha withdrew $350 cash from the company to pay personal expenses. Jan. 28 Paid the January utility bills, $100. Prepare general journal entries to record the transactions. Jan, 18
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Here are the general journal entries to record the transactions for Samanthas bookstore Jan 1 Cash 1... View the full answer
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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