Make the following Journal Entries Provided a description of each Journal Entry Based on the Bank...

    

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Make the following Journal Entries Provided a description of each Journal Entry Based on the Bank Reconciliation and the following information make the required journal entries for the Bank Reconciliation 1. NSF check was from Brent White 2. Check #2154 was for office supplies 3. The interest on the notes was $175, this was part of the total collected of $2,075 4. Service Fee of Journalize the following transaction for both the Seller and the Buyer using a perpetual inventory, no discounts are registered at the time of the sale. Seller uses the following accounts: Sales, Sales Discounts, Sale Returns & Allowances, COGS, Merchandise Inventory, Cash, and Accounts Receivable (AR) Buyer uses the following accounts Merchandise Inventory, Accounts Payable, Cash 09/05/20 Seller sold merchandise on account to buyer for terms FOB Shipping point, 2/10, N30 The cost of the merchandise sold was 09/11/20 Buyer paid the freight charges of for the purchase on September 5, 2020 09/13/20 Buyer returned merchandise valued at The cost of the merchandise returned was 09/15/20 Seller received payment from the Buyer minus any available discounts 9,000 6,300 555 349 405 1,600 1,100 21 Date Account Debit Seller's Entries Buyers Entries Credit 11/30/20 Make the following Entry for Petty Cash GL Balance of Petty Cash Fund Had the following Receipts in Petty Cash Office Supplies Surf Corp has a credit balance in the Allowance of Doubtful Accounts of $5,500 and a debit balance in the Accounts Receivable of $55,000. The following transactions were completed in April. Surf Corp using the percent's of credit sales method for allowance calculations. Refreshments (Miscellaneous Expense) Postage Counted total Cash of 04/30/19 04/08/19 Received a total of 04/30/19 04/02/19 Received a payment of the previously written off account of Hang Ten Dude in the amount of 375 04/06/19 Received a letter from Leo Sands Inc.'s attorney that Leo Sands is bankrupts, Leo Sands had an outstanding balance of 2,750 150 of Short Board accounts which was Short Board has gone bankrupt, so we will write off the remainder of their account 45 48 Cash sales for the month were Credit sales for the month were Journal entries for these sales have been made. 12 39 3300 7500 75,000 155,000 We estimate that 1.95% of credit sales will not be collected. Make the necessary journal entry to record the estimated bad debts expense Make the following Journal Entries Provided a description of each Journal Entry Based on the Bank Reconciliation and the following information make the required journal entries for the Bank Reconciliation 1. NSF check was from Brent White 2. Check #2154 was for office supplies 3. The interest on the notes was $175, this was part of the total collected of $2,075 4. Service Fee of Journalize the following transaction for both the Seller and the Buyer using a perpetual inventory, no discounts are registered at the time of the sale. Seller uses the following accounts: Sales, Sales Discounts, Sale Returns & Allowances, COGS, Merchandise Inventory, Cash, and Accounts Receivable (AR) Buyer uses the following accounts Merchandise Inventory, Accounts Payable, Cash 09/05/20 Seller sold merchandise on account to buyer for terms FOB Shipping point, 2/10, N30 The cost of the merchandise sold was 09/11/20 Buyer paid the freight charges of for the purchase on September 5, 2020 09/13/20 Buyer returned merchandise valued at The cost of the merchandise returned was 09/15/20 Seller received payment from the Buyer minus any available discounts 9,000 6,300 555 349 405 1,600 1,100 21 Date Account Debit Seller's Entries Buyers Entries Credit 11/30/20 Make the following Entry for Petty Cash GL Balance of Petty Cash Fund Had the following Receipts in Petty Cash Office Supplies Surf Corp has a credit balance in the Allowance of Doubtful Accounts of $5,500 and a debit balance in the Accounts Receivable of $55,000. The following transactions were completed in April. Surf Corp using the percent's of credit sales method for allowance calculations. Refreshments (Miscellaneous Expense) Postage Counted total Cash of 04/30/19 04/08/19 Received a total of 04/30/19 04/02/19 Received a payment of the previously written off account of Hang Ten Dude in the amount of 375 04/06/19 Received a letter from Leo Sands Inc.'s attorney that Leo Sands is bankrupts, Leo Sands had an outstanding balance of 2,750 150 of Short Board accounts which was Short Board has gone bankrupt, so we will write off the remainder of their account 45 48 Cash sales for the month were Credit sales for the month were Journal entries for these sales have been made. 12 39 3300 7500 75,000 155,000 We estimate that 1.95% of credit sales will not be collected. Make the necessary journal entry to record the estimated bad debts expense