The following transactions were taken off the company's books. Cash $ 65,000 Inv. Initial (725
Question:
The following transactions were taken off the company's books.
Cash ………………………………………………………………………… $ 65,000
Inv. Initial ……………………………… (725 U to $ 14.89)
Receivable……………………………………………………. 89,000
All.for.doub.accts ……………………………………………………… 5,400
a) Common shares were issued for a total of $ 325,000.
b) 2,367 units were purchased with a total cost of $ 38,000.00 on credit
c) Merchandise worth $ 1,500.00 was returned.
d) 2,475 units were sold at $ 21.00
e) 3,200 units were purchased with a price of $ 11.00 in terms of (2% n30)
f) $ 100,000 was borrowed.
g) 25 units returned were received from those sold in transaction d
h) The transaction invoice (e) was paid
REQUIREMENTS;
A) Register the transactions in the General Journal de la. company
B) Open one for each account that appears in the problem and find the balance
Expert Answer:
A Transaction recorded in General Journal de la Company NOTES 1 As the dates and reference numbers are not mention in the question hence are not entered in the below General Journal 2 Assumed that thi... View the full answer
