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Journal Entries & Adjusting Journal Entries
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Nov. 15- Purchased $1,600 of merchandise on account from Martin Co, terms 1/30; paid $60 of associated freight charges in cash. My answer: Merchandise Inventory $1600 Accounts Payable $1600 Cash $60 Freight Expense $60...
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 versus Cash Payment Journal
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I have an ethical issue case I'm working on, but am stuck. I would like to know how would I determine which journal to use say for example, you go on a business trip to Australia and take your spouse along at company expense. Well that is unethical for sure, but you are best friends with the vice...
Bond Payments and Journal and Journal Entries
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What is the adjusting entry at Dec 31, 2007 for this problem? Problem: Logan Corporation issued 800000 of 8% bonds on October 1, 200, due on October 1, 2011. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest.
Which Journal do I use?
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Hi, I am doing a practice set and I having trouble distinguishing what entries go into which specific journals. I am really having trouble figuring out what goes into the General Journal in the end, especially when it comes to things like issuing shares and wages. If anyone can help me with... View more questions Search
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