Review the source document and prepare the journal entry to record this transaction in your working papers.
Question:
Review the source document and prepare the journal entry to record this transaction in your working papers. Your Backpack Inc. uses a cash payments journal to record disbursements.
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Your Backpack Inc. MEMORANDUM No. 42 29000 White Road Cold Springs, TX 77282-4513 TO: Robert Chan, Chief Accountant FROM: James Perkins, President July 12, 20-- DATE: SUBJECT: New Storage Facility Rent Would you please make a check out to Warehouse Inc. for $750. The check is for the new storage facility we are renting. Please mail the check to: Mr. James Skiller, Controller Warehouse Inc. 7576 County Line Highway Crossplains, TX 77361-8411
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