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Journal entries , cash book and ledger
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Record journal entries for the disposal under the following assumptions.
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Phill Co. has delivery equipment that cost $54,000, a salvage value of $4000, and a five year life. The asset was purchased on January 1, 2006 and for disposed on January 1, 2008. Phill Co. uses the straight-line method of depreciation. Instructions Record journal entries for the disposal...
Cash Book and Journal Entries
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Furniture is sold and the debtor pays by cheque. I am assuming that first of all this entry will be reflected in the Cash Receipts Journal. As at the end of the month, the cheque is returned unpaid. 1. This first transaction will go in the Cash Receipts Journal (Ledger acc DR Bank/CR Furniture)...
Cash to accrual journal entries
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What are the journal entries used when you convert from an accrual to a cash accounting method? And what is the theory behind these journal entries? Thanks, Michael View more questions Search
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