Vito York practices medicine under the business title Vito York, M. D. During March, the medical practice completed the following transactions: AClick the icon to view the transactions.) The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes Payable; York, Capital; York, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense. Read the requirements. ..... Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) March 1: York contributed $64,000 cash to the business in exchange for capital. Date Accounts Debit Credit Mar. 1

Vito York practices medicine under the business title Vito York, M. D. During March, the medical practice completed the following transactions: AClick the icon to view the transactions.) The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes Payable; York, Capital; York, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense. Read the requirements. ..... Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) March 1: York contributed $64,000 cash to the business in exchange for capital. Date Accounts Debit Credit Mar. 1

Name: Vito York practices medicine under the business title Vito York, M. D
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Description: Vito York practices medicine under the business title Vito York, M. D. During March, the medical practice completed the following transactions:A(Click the icon to view the transactions.)The business uses the following accounts: Cash; Accounts Receiv

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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E6-2B. From the following transactions for Maggie Co., when appropriate, journalize, record, post, and prepare a schedule of accounts receivable. Use the same journal headings (all page 1) and chart of accounts that Art's Clothing used in the text (use Maggie G., Capital). You will have to set up your own accounts receivable subsidiary ledger and partial general ledger as needed. All sales terms are 2/10, n/30. 2023 June 2 Maggie G. invested $6,000 in the business. 3 Sold merchandise on account to Boston Co., invoice No. 218, $800. Cost of inventory was $600. 3 Sold merchandise on account to Wei Co., invoice No. 219, $1,200. Cost of inventory was $900. 6 Cash sale, $300. Cost of inventory was $225. 9 Issued credit memorandum No. 24 to Boston Co. for defective merchandise, $150. Cost of inventory was $112.50. 10 Received cheque from Boston Co. for invoice No. 218 less returns and discount. 16 Cash sale, $500. Cost of inventory was $375. 17 Sold merchandise on account to Boston Co.,…
is the answer to this question correct If you received a check from Mr. Jones for $500 for work you performed last week, which journal would you use to record receipt of the amount they owed you? What would be recorded? This transaction will be recorded in the Cash Receipts Journal. The receipt of cash from the sale of goods, as payment on accounts receivable or from other transactions, is recorded in a cash receipts journal with a debit to cash and a credit to the source of the cash, whether that is from sales revenue, payment on an account receivable, or some other account. Chapter 7 Accounting Information Systems out of Principles of Accounting, Volume 1. CASH RECEIPTS JOURNAL Date Account Cash DR Accounts Receivable CR 2022 Mar.13 Mr. Jones $ 500 $ 500
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