Write up a 3 Column Cash Book of the Transaction that was done with our company few
Question:
Write up a 3 Column Cash Book of the Transaction that was done with our company few months ago (July) VIA EXCEL
July 1 Balance brought forward :
Cash in Hand : $5000
Cash at Bank : $ 90,000
July 2 Received Cash loan of $25 ,000 from Partners .
July 3 Bought goods of $156,000
July 4 Bought Motor Van paying by check $1,600
July 5 Cash Withdrawn from the bank $25,000
July 7 Paid Wages in Cash $16,000
July 8 Cash Drawings $10,000
July 10 Cash Sales paid directly into the bank $28,000
July 12 We paid the following Accounts by Check less 10% discount in each case:
Marshal : $2,000: Linda : $1,600
Theresa : $1,800
July 13 The following paid us their Accounts by Check in each case deducting 2.5% Discount
Jerry : $980
Martins 450
July 15 Receive
a further Loan of $2,500
July 16 We paid Brandy his account of $400 by Check
July 18 Cash Sales $8,000
July 21 Paid Rent in Cash $1,800
July 23 Received Commission By Check $7,500
July 25 The following persons paid us their Accounts by check in each Case Deducting 5% Discount :Uson $500 ; David : $4,599
July 26 We paid the following Accounts paid by check in each case deducting 2% Discount
Joseph : $2000 ,Woroniecka : 1,200
July 28 Paid Insurance 8,900
October29 Linda Paid Us a Check for $ 2,500 Having Deducted 200 for Cash Discount.
Expert Answer:
Calculation of discount receive for payment to M Discount received Payment outstanding x Discount pe... View the full answer
