On a sheet of notebook paper, draw a cash receipts journal like the one in Exhibit AII.10
Question:
On a sheet of notebook paper, draw a cash receipts journal like the one in Exhibit AII.10 and journalize the following March 2020 cash receipts transactions for Suttleton Company.
Mar. 18 Collected the amount owing regarding the $3,000 of merchandise sold to Tim Edson on March 3; terms 2/15, n/30; invoice #1103.
30 Willis Company paid for the $10,800 of merchandise purchased on March 10; terms 2/15, n/30; invoice #1104.
31 Sold $6,200 of merchandise to ABC Company for cash (cost $4,216).
Exhibit AII.10
Transcribed Image Text:
Outdoors Unlimited Cash Receipts Joumal Page 2 Cost of Goods Sold Dr. Sales Accounts Other Accounts Discount Receivable Dr. Cash Merchandise Accounts Sales Inventory Cr. Credited Cr. Cr. Date Dr. Cr. PR Explanation 2020 Feb. 7 Sales 12 Jason Henry 14 Sales 17 Albert Co. 20 Notes Payable 245 Note to bank 21 Sales 22 | Interest Income 23 Bam Moore Cash sales Invoice, Feb. 2 Cash sales 3,150 4.450 4,450 441 450 3,925 3.925 2,950 VInvoice, Feb. 7 10 500 490 750 750 Cash sales 409 Bank account VInvoice, Feb. 13 Invoice, Feb. 15 4,700 3,400 4,700 250 250 350 343 200 25 Paul Roth 196 4.225 19.770 (101) 3,050 12.550 (502/119) 28 Sales 28 Totals Cash sales 4.225 1.500 17.300 30 (415)| 1.000 (X) (413) (106) General Ledger Column totals Individual Accounts Receivable Subledger ex cept for amounts in No. 101 Cash Frank Booth Other Accounts the Accounts Debit Date PR Credit Balance Date PR Debit Credit Balance Recevablo columns are 2020 Jan, 31 Feb. 28 CR2 9,450 29.220 posted at the 2020 Credit and 19,770 Feb. 25 S3 end of the 175 175 Other Accounts perlod. Accounts Recelvable No. 106 Credit columns Jason Henry are posted dally. PR 2020 Jan. 31 Credit Date Debit Balance Date PR Debit Credit Balance -0- 2020 Feb. 28 S3 2,150 2,150 Feb. 2 S3 450 12 CR2 22 S3 450 28 ICR2 1.500 650 450 -0 Merchandise Inventory No. 119 225 225 Debit PR 2020 Jan. 31 Date Credit Balance Bam Moore 16,250 14,750 2,200 Date PR Debit Credit Balance Feb. 28 S3 1,500 12,550 28 CR2 2020 Feb. 13 S3 23 CR2 350 350 No. 245 Notes Payable Credit 350 -0- PR 2020 Jan. 31 Feb. 20 CR2 Date Debit Balance Paul Roth -0- Date PR Debit Credit Balance 2020 Feb. 15 S3 25 CR2 750 750 Sales No. 413 200 200 Date 2020 Jan. 31 Feb. 28 PR Debit Credit Balance 200 -0 23,400 25,550 42,850 Albert Co. S3 28 CR2 2,150 17,300 Date PR Debit Credit Balance No. 415 Sales Discounts 2020 Feb. 7 S3 17 CR2 28 S3 PR Date Debit Credit Balance 500 500 2020 500 -0 Jan. 31 Feb, 28 CR2 35 65 250 250 30 Interest Income No. 409 PR Credit Date 2020 Jan. 31 Feb. 22 CR2 Debit Balance 260 510 250 No. 502 Cost of Goods Sold Date PR Debit Credit Balance 2020 Jan. 31 14.100 15.600 28.150 Feb. 28 1.500 12,550 S3 28 CR2 19
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Related Book For
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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