Question: Can you write out the journal entries for each problem? failed &. At the end of the year, Alpha sold land at a loss for
failed &. At the end of the year, Alpha sold land at a loss for cash and a note receivable. But the bookkeeper 9. Alpha made the following errors: (a) A cash sale to a customer for $900 was erroneously recorded 10. Alpha failed to record two transactions that should have been recorded: (a) a $400 payment to satisfty to record the transaction. as cash received to satisfy an existing account receivable and (b) a $500 payment to satisfy an account payable was erroneously recorded as a credit purchase of equipment. an account payable and (b) a credit purchase of inventory from a vendor for $700 using the periodic inventory system (it was included in ending inventory). Ignore closing entries and AJEs failed &. At the end of the year, Alpha sold land at a loss for cash and a note receivable. But the bookkeeper 9. Alpha made the following errors: (a) A cash sale to a customer for $900 was erroneously recorded 10. Alpha failed to record two transactions that should have been recorded: (a) a $400 payment to satisfty to record the transaction. as cash received to satisfy an existing account receivable and (b) a $500 payment to satisfy an account payable was erroneously recorded as a credit purchase of equipment. an account payable and (b) a credit purchase of inventory from a vendor for $700 using the periodic inventory system (it was included in ending inventory). Ignore closing entries and AJEs
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
