7. Journalize the following transactions: a. Sold merchandise on account to Troy Co., invoice no. 10,...
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7. Journalize the following transactions: a. Sold merchandise on account to Troy Co., invoice no. 10, $50. The cost of the merchandise was $28. b. Received check from Brown Co., $300, less 3% discount. c. Cash sales, $104. The cost of merchandise was $59. d. Issued credit memorandum no. 2 to Troy Co. for defective merchandise, $18. The cost of the merchandise was $11. 8. From the following, prepare a schedule of accounts receivable for Lucky Co. for May 31, 201X. Accounts Receivable Subsidiary Ledger 5/6 GJ1 5/20 GJ1 5/9 GJ1 Jarad Co. Dr. Cr. 104 Katz Co. Dr. Cr. 33 12 5/27 GJ1 Turtle Co. Dr. Cr. 10 General Ledger Accounts Receivable 5/31 GJ1 Dr. Cr. 147 12 5/31 GJ1 7. Journalize the following transactions: a. Sold merchandise on account to Troy Co., invoice no. 10, $50. The cost of the merchandise was $28. b. Received check from Brown Co., $300, less 3% discount. c. Cash sales, $104. The cost of merchandise was $59. d. Issued credit memorandum no. 2 to Troy Co. for defective merchandise, $18. The cost of the merchandise was $11. 8. From the following, prepare a schedule of accounts receivable for Lucky Co. for May 31, 201X. Accounts Receivable Subsidiary Ledger 5/6 GJ1 5/20 GJ1 5/9 GJ1 Jarad Co. Dr. Cr. 104 Katz Co. Dr. Cr. 33 12 5/27 GJ1 Turtle Co. Dr. Cr. 10 General Ledger Accounts Receivable 5/31 GJ1 Dr. Cr. 147 12 5/31 GJ1
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Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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