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Sales Journal &Cash Recepits Journal
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Record the following transactions in the Sales Journal and Cash Recepits Journals. The cost of all merchandise sold was 70% of the sales price. July 2 Sold Merchandise for 21,000 to B.Tate on account. Credit ter,s 2/10, n/30. Sales invoice No. 100 July 5 Received a check for $800...
General Journal Posting
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If you have a general journal entry that is an infusion of capital of say 10,000 cash, I would debit cash and credit capital for the amount. However, when you post the entries, where do those balances go? What happens to the general journal entries? Do they stay for the entire fiscal year or are...
Posting a adjusting journal entry
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How would you post a journal entry when you received the cash in advance for a service to be done in the middle of the month but don't complete the services by the last day of the month? Would you have to do anything? Or would you just wait until the work is done to enter it? View more questions Search
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