On 31 July 2022, R Hunter, who uses the general ledger with control accounts, received $1705 from

Question:

On 31 July 2022, R Hunter, who uses the general ledger with control accounts, received $1705 from V Macdonald

($1550 + $155 GST), which had been written off as a bad debt two years ago.

You are required to:

• prepare the above transaction in the cash receipts journal and general journal

• post these events to the general ledger and the accounts receivable ledger.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting An Introduction To Principles And Practice

ISBN: 9780170403832

9th Edition

Authors: Edward A. Clarke, Michael Wilson

See More Books

Question Posted: Feb 23, 2024 03:01 PM

See More Questions

The Majestic Plumbing Company provides plumbing installations for both business and individual customers. The company records sales for the two types of customers in separate Sales accounts. The...
You are employed as the Audit Manager at Torbanite Auditors. Torbanite Auditors is the auditor of Ametis (Pty) Ltd. Ametis (Pty) Ltd wholesales Protective Personal Equipment (PPE). This year is the...
Prepare a company analysis (strengths and weaknesses) Instructions - Prepare the SW portion of a SWOT analysis as a report. Use your textbook and the instruction below. Prioritizing the Results: The...
In the accrual swap discussed in the text, the fixed side accrues only when the floating reference rate lies below a certain level. Discuss how the analysis can be extended to cope with a situation...
As the manager at a local florist, you supervise two employees, Anita and Jerome. There are two tasks that need to be completed: floral arrangements and flower delivery. It takes Anita 30 minutes to...
Show that the two-sided p-value is $1-\hat{F}_{T}\left(\left|t^{*} ight| ight)+\hat{F}_{T}\left(-\left|t^{*} ight| ight)$, where $\hat{F}_{T}$ is the ECDF of the randomization distribution of...
At the end of its first year of operations, the Leo Company lists the following accounts and ending account balances related to stock transactions and dividends: During the first year the following...
Find the zeros of the quadratic function using the square root method. What are the x-intercepts of the graph of the function? 9(x)=(x-4)-9
D Michael sold goods to M Farrah for $25 905 ($23 550 + $2355 GST) on 15 April 2022. On 7 May a bill receivable is signed, maturing on 28 November 2022. The bill is met on the due date. Show in the...
On 30 June 2022, $528 was received from C Hawkesbury ($480 + $48 GST), which had previously been written off as a bad debt. Prepare the cash receipts journal and general journal using control...
The following table gives the map coordinates and the shipping loads for a set of cities that we wish to connect through a central hub. (a) Near which map coordinates should the hub be located? (b)...
Warner Corporation purchased a machine 7 years ago for $ 3 7 6 , 0 0 0 when it launched product P 5 0 . Unfortunately, this machine has broken down and cannot be repaired. The machine could be...
Outback Outfitters sells a small camp stove for $ 1 5 0 per unit. Variable expenses are $ 1 0 5 per unit, and fixed expenses total $ 1 8 4 , 5 0 0 per month. Required: What is the break - even point...
Gino's Restaurant is a popular restaurant in Boston, Massachusetts. The owner of the restaurant has been trying to better understand costs at the restaurant and has hired a student intern to conduct...
Myriad Solutions, Incorporated issued 1 2 % bonds, dated January 1 , with a face amount of $ 3 7 0 million on January 1 , 2 0 2 4 , for $ 3 3 0 , 8 0 2 , 4 2 2 . The bonds mature on December 3 1 , 2...
Jordan Company reported the following data regarding the product it sells: Sales price $ 5 0 Contribution margin ratio 1 0 % Fixed costs $ 1 5 0 , 0 0 0 Required Use the contribution margin ratio...
How does the market-driven approach illustrate that HR has strategic, operational, and administrative roles at SYSCO?
Find a least expensive route, in monthly lease charges, between the pairs of computer centers in Exercise 11 using the lease charges given in Figure 2. a) Boston and Los Angeles b) New York and San...
Versatile Vacuums sells two products domestic and commercial. The stores income statement for the year ending 30 June 2020 has been prepared from the accounting records. The companys records...
Cranford Cars Ltd operates a car sales business with two departments new cars and secondhand cars. The companys accountant has prepared an income statement for the year ending 30 June 2020. The...
Rugged Rooms Ltd is a rug and drapery retailer. Rugged Rooms specialises in selling floor rugs and window dressings. The following information was derived from the shops accounting records for the...
Units of product must be transported from warehouses W1 and W2 to customers C1 and C2. Because of contractual rights, the amount of product shipped from W2 to C2 must be at least half of the amount...
Problem 3-put all of your final answers in the yellow boxes below, and show any additional work in the green identified area. Losses and/or reserves should be depicted with a negative number; gains...
A wooden crate is pulled up a ramp that is 2.0 m high and 10.0 m long. The crate is attached to a rope that is wound around an axle with a radius of 0.25 m. The axle is turned by a 1 m long handle....

On 31 July 2022, R Hunter, who uses the general ledger with control accounts, received $1705 from

Question:

Step by Step Answer:

Accounting An Introduction To Principles And Practice

Students also viewed these Business questions