Shou Computers uses the columnar cash journals illustrated in the textbook. In April, the following selected cash
Question:
Shou Computers uses the columnar cash journals illustrated in the textbook. In April, the following selected cash transactions occurred.
1. Made a refund to a customer as an allowance for damaged goods.
2. Received collection from customer within the 3% discount period.
3. Purchased merchandise for cash.
4. Paid a creditor within the 3% discount period.
5. Received collection from customer after the 3% discount period had expired.
6. Paid freight on merchandise purchased.
7. Paid cash for office equipment.
8. Received cash refund from supplier for merchandise returned.
9. Withdrew cash for personal use of owner.
10. Made cash sales.
Instructions
Indicate (a) the journal, and (b) the columns in the journal that should be used in recording each transaction.
Step by Step Answer:
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt