13. Paid monthly telephone bill, Php650. a. Debit, cash, Credit J. Ilagan, capital b. Debit, telephone expense, credit cash c. Debit J. Ilagan, Capital, Credit Cash d. none of the above
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13. Paid monthly telephone bill, Php650.
a. Debit, cash, Credit J. Ilagan, capital
b. Debit, telephone expense, credit cash
c. Debit J. Ilagan, Capital, Credit Cash
d. none of the above
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Solved in 2 steps
- An invoice shows a total of £3,200 less 2.5% cash discount. If this was paid in time, the amount of the cheque paid would be for? a. £2,960 b. £3,040 c. £3,120 d. £2,800Find out value of account receivable from following Cash P48,000 accounts payable P33,000 office equipment P21,000 owner equity P77,000? a. P110,000 b. P15,000 c. P41,000 d. P21,000On Dec 31, the company has $30.000 on hand; Cash($) account has a balance of 45.000 TL and exchange rate is 1,25 TL/$. Which entry is made on Dec 31? a.7.500 debit to 100-Cash($) and credit to 646-Forex Gain b.7.500 debit to 100-Cash($) and credit to 656-Forex Loss c.37.500 debit to 100-Cash($) and credit to 646-Forex Gain d.7.500 debit to 656-Forex Loss and credit to 100-Cash($)
- 4-Al Jaffar LLC had accounts receivable for RO 25000. They sold the accounts receivable to the Factor for a service charge of 2%. The amount of cash to be recorded in the accounts is a. RO 24500 b. RO 25000 c. RO 25500 d. RO 24000Jasper makes a 81,000, 90 day 7% cash loan to clayborn co. Jaspers entry to record the transaction should be42.The following data were available for ABC Company, which uses perpetual system, at Dec 31, 20X2:Accounts Payable, beg P15,000Accounts Payable, end P10,000Inventory, beg P17,000Inventory, end P9,000Cash payment to creditors(net of 2% discount) 294,000Purchase returns, P5,000How much were the credit purchases during the period? 285,000 294,000 300,000 315,000
- Leno Company sells goods to the Fallon Company for $14,000. It offers credit terms of 3/10, n/30. If Fallon Company pays the invoice within the discount period, Leno Company will record a debit to Cash in the amount of: A. 13,580 B. 420 C. 14,420 D. 14,000 Thanks ethetheLeno Company sells goods to the Fallon Company for $15,000. . It offers credit terms of 3/10, n/30. If Fallon Company pays the invoice within the discount period, Leno Company will record a debit to Cash in the amount of: A. $14,550. B. $15,000. C. $15,450. D. $450. thanksJournalise the following transactions ::::: a) Sold goods to B for $50,000 @20% trade discount and 5% cash discount, B paid 40% of amount immediately through a cheque. b) Cash received from Q on the behalf of P $10,000
- 6. A cheque for RO 2,000 is presented in the clearing on the 20-01-2020 for payment when the balance in the account is RO 550. The customer has a fixed deposit account with a bank for a sum of RO 1500.April 29 Received Cash from client for merchandise amounting to 2,050. 1. What is the entry for this and why?Transactions for 2024 1-Sales revenue on account, $113,600 (ignore Cost of Goods Sold). 2-Collections on account, $92,895 3-Write-offs of uncollectibles, $760. 4- The Company accepted a 90-day, 9%, $13,500 note receivable from a customer in exchange for 4 his account receivable. a Journalize the issuance of the note. b Journalize the collection of the principal and interest at maturity. (use 360 days) 5 Bad debts expense of $?? was recorded. (Refer to requirement 3)(about the write off) - while doing the transactions for 2024 assume the company uses the allowance method and show work and formulas
