Create a general journal for each transaction December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the S590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 11. 47 48 December 17: Byte received invoice number 26354 in the amount of $725.00 from the local newspaper for advertising. 12. 49 50 51 December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $720.00. 13. 52 December 19: Byte sold 17 Super toners to a customer on account for $59.00 each. The sales order number was 12101. 14. 53 54 December 19: Byte records the cost of the 17 Super Toners sold using FIFO. The sales order number was 12101. 15. 55 56 December 21: Byte received an emailed invoice in the amount of $5,500.00 for computers that were drop shipped and received today. 16. 57 58 December 21: Byte billed varions miscellaneous local customers $11,000.00 for computers that were delivered today. 17. 59 60 December 21: Record the cost of the computers that were sold today. 61 18. 62 December 22: Check i 6005 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll tates at this time.) 19. 63 64 December 22: Byte received a bill for $1,095.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 20. 65 66 December 22: Check 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. 21. 67
Create a general journal for each transaction December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the S590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 11. 47 48 December 17: Byte received invoice number 26354 in the amount of $725.00 from the local newspaper for advertising. 12. 49 50 51 December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $720.00. 13. 52 December 19: Byte sold 17 Super toners to a customer on account for $59.00 each. The sales order number was 12101. 14. 53 54 December 19: Byte records the cost of the 17 Super Toners sold using FIFO. The sales order number was 12101. 15. 55 56 December 21: Byte received an emailed invoice in the amount of $5,500.00 for computers that were drop shipped and received today. 16. 57 58 December 21: Byte billed varions miscellaneous local customers $11,000.00 for computers that were delivered today. 17. 59 60 December 21: Record the cost of the computers that were sold today. 61 18. 62 December 22: Check i 6005 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll tates at this time.) 19. 63 64 December 22: Byte received a bill for $1,095.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 20. 65 66 December 22: Check 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. 21. 67
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter14: Accounting For Uncollectible Accounts Receivable
Section: Chapter Questions
Problem 2AP
Related questions
Question
help
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
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.Recommended textbooks for you
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning