ercise 2. Cosma Co engaged in the following transactions during Ja equired: Record the January transactions in a sales journal, a single-column a cash receipts journal, a cash payments journal, and a general journal. Jan. 1 Owner invested $5,000 3 Purchased merchandise on account from Gallagher Co. $9,000. 4 Purchased supplies on account for $80. 4 Sold merchandise on account to Wheeler $5,250, (cost 3,200) invoice no. 371, terms 1/10,83 6 Made cash sales for the week totalling $3,150, (cost 2,900). 13 Paid in full Gallagher Co. 14 Received payment from Wheeler for invoice no. 371. (consider the discount) 18 Purchases merchandise with cash for $1,500. 25 Recognized salaries expenses that will be paid in the following year for $2,700. to Yourcl Receipts Journal ts Credited Sales Accounts Sales Other COGS Dri Cash Dr Disent Dr Receivable Cr Revenue Cr Accounts Cr Merch Inv Cr. er unts Dr Merchandise Inventory Cr. Accounts Payable Dr. Cash Cr GS Dr COGS Dr Merchandise Inventory Cr
ercise 2. Cosma Co engaged in the following transactions during Ja equired: Record the January transactions in a sales journal, a single-column a cash receipts journal, a cash payments journal, and a general journal. Jan. 1 Owner invested $5,000 3 Purchased merchandise on account from Gallagher Co. $9,000. 4 Purchased supplies on account for $80. 4 Sold merchandise on account to Wheeler $5,250, (cost 3,200) invoice no. 371, terms 1/10,83 6 Made cash sales for the week totalling $3,150, (cost 2,900). 13 Paid in full Gallagher Co. 14 Received payment from Wheeler for invoice no. 371. (consider the discount) 18 Purchases merchandise with cash for $1,500. 25 Recognized salaries expenses that will be paid in the following year for $2,700. to Yourcl Receipts Journal ts Credited Sales Accounts Sales Other COGS Dri Cash Dr Disent Dr Receivable Cr Revenue Cr Accounts Cr Merch Inv Cr. er unts Dr Merchandise Inventory Cr. Accounts Payable Dr. Cash Cr GS Dr COGS Dr Merchandise Inventory Cr
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 3PA: Domingo Company started its business on January 1, 2019. The following transactions occurred during...
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