AN SOMEONE HELP ME MAKE A JOURNAL TABLE PLEASE ? Selected accounts from the chart of accounts of Crane Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Crane completed the following transactions. Jan. 3 Purchased merchandise on account from Gallagher Co. $10,500. 4 Purchased supplies for cash $80. 4 Sold merchandise on account to Wheeler $5,670, invoice no. 371, terms 1/10, n/30. 5 Returned $300 worth of damaged goods purchased on account from Gallagher Co. on January 3. 6 Made cash sales for the week totaling $3,800. 8 Purchased merchandise on account from Phegley Co. $5,000. 9 Sold merchandise on account to Linton Corp. $5,300, invoice no. 372, terms 1/10, n/30. 11 Purchased merchandise on account from Cora Co. $3,650. 13 Paid in full Gallagher Co. on account less a 2% discount. 13 Made cash sales for the week totaling $5,970. 15 Received payment from Linton Corp. for invoice no. 372. 15 Paid semi-monthly salaries of $13,000 to employees. 17 Received payment from Wheeler for invoice no. 371. 17 Sold merchandise on account to Delaney Co. $2,880, invoice no. 373, terms 1/10, n/30. 19 Purchased equipment on account from Dozier Corp. $5,770. 20 Cash sales for the week totaled $3,740. 20 Paid in full Phegley Co. on account less a 2% discount. 23 Purchased merchandise on account from Gallagher Co. $7,030. 24 Purchased merchandise on account from Atchison Corp. $5,440. 27 Made cash sales for the week totaling $4,620. 30 Received payment from Delaney Co. for invoice no. 373. 31 Paid semi-monthly salaries of $13,190 to employees. 31 Sold merchandise on account to Wheeler $9,310, invoice no. 374, terms 1/10, n/30. Mercer Company uses the following journals. 1. Sales journal. 2. Single-column purchases journal. 3. Cash receipts journal. 4. Cash payments journal. 5. General journal.

AN SOMEONE HELP ME MAKE A JOURNAL TABLE PLEASE ? Selected accounts from the chart of accounts of Crane Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Crane completed the following transactions. Jan. 3 Purchased merchandise on account from Gallagher Co. $10,500. 4 Purchased supplies for cash $80. 4 Sold merchandise on account to Wheeler $5,670, invoice no. 371, terms 1/10, n/30. 5 Returned $300 worth of damaged goods purchased on account from Gallagher Co. on January 3. 6 Made cash sales for the week totaling $3,800. 8 Purchased merchandise on account from Phegley Co. $5,000. 9 Sold merchandise on account to Linton Corp. $5,300, invoice no. 372, terms 1/10, n/30. 11 Purchased merchandise on account from Cora Co. $3,650. 13 Paid in full Gallagher Co. on account less a 2% discount. 13 Made cash sales for the week totaling $5,970. 15 Received payment from Linton Corp. for invoice no. 372. 15 Paid semi-monthly salaries of $13,000 to employees. 17 Received payment from Wheeler for invoice no. 371. 17 Sold merchandise on account to Delaney Co. $2,880, invoice no. 373, terms 1/10, n/30. 19 Purchased equipment on account from Dozier Corp. $5,770. 20 Cash sales for the week totaled $3,740. 20 Paid in full Phegley Co. on account less a 2% discount. 23 Purchased merchandise on account from Gallagher Co. $7,030. 24 Purchased merchandise on account from Atchison Corp. $5,440. 27 Made cash sales for the week totaling $4,620. 30 Received payment from Delaney Co. for invoice no. 373. 31 Paid semi-monthly salaries of $13,190 to employees. 31 Sold merchandise on account to Wheeler $9,310, invoice no. 374, terms 1/10, n/30. Mercer Company uses the following journals. 1. Sales journal. 2. Single-column purchases journal. 3. Cash receipts journal. 4. Cash payments journal. 5. General journal.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 2.4C

See similar textbooks

Related questions

Question

CAN SOMEONE HELP ME MAKE A JOURNAL TABLE PLEASE ?

Selected accounts from the chart of accounts of Crane Company are shown below.

101	Cash	401	Sales Revenue
112	Accounts Receivable	412	Sales Returns and Allowances
120	Inventory	414	Sales Discounts
126	Supplies	505	Cost of Goods Sold
157	Equipment	726	Salaries and Wages Expense
201	Accounts Payable

The cost of all merchandise sold was 60% of the sales price. During January, Crane completed the following transactions.

Jan. 3		Purchased merchandise on account from Gallagher Co. $10,500.
4		Purchased supplies for cash $80.
4		Sold merchandise on account to Wheeler $5,670, invoice no. 371, terms 1/10, n/30.
5		Returned $300 worth of damaged goods purchased on account from Gallagher Co. on January 3.
6		Made cash sales for the week totaling $3,800.
8		Purchased merchandise on account from Phegley Co. $5,000.
9		Sold merchandise on account to Linton Corp. $5,300, invoice no. 372, terms 1/10, n/30.
11		Purchased merchandise on account from Cora Co. $3,650.
13		Paid in full Gallagher Co. on account less a 2% discount.
13		Made cash sales for the week totaling $5,970.
15		Received payment from Linton Corp. for invoice no. 372.
15		Paid semi-monthly salaries of $13,000 to employees.
17		Received payment from Wheeler for invoice no. 371.
17		Sold merchandise on account to Delaney Co. $2,880, invoice no. 373, terms 1/10, n/30.
19		Purchased equipment on account from Dozier Corp. $5,770.
20		Cash sales for the week totaled $3,740.
20		Paid in full Phegley Co. on account less a 2% discount.
23		Purchased merchandise on account from Gallagher Co. $7,030.
24		Purchased merchandise on account from Atchison Corp. $5,440.
27		Made cash sales for the week totaling $4,620.
30		Received payment from Delaney Co. for invoice no. 373.
31		Paid semi-monthly salaries of $13,190 to employees.
31		Sold merchandise on account to Wheeler $9,310, invoice no. 374, terms 1/10, n/30.

Mercer Company uses the following journals.

1.		Sales journal.
2.		Single-column purchases journal.
3.		Cash receipts journal.
4.		Cash payments journal.
5.		General journal.

Cash Receipts Journal
Accounts Receivable
Account Credited
Ref.
Cash Dr.
Sales Discounts Dr.
Cr.
(101)
(414)
(112)
>
>
>
>
>
>
>

(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order
presented in the problem.)
General Journal
Date
Account Titles and Explanation
Debit
Credit

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.