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Jacobs Company had the following transactions that occurred during February of this year: Feb. 1 Issued Ck. No. 4311, $637, to Barker Company for invoice no. 3113E, recorded previously for $650, less cash discount of $13. 2 Issued Ck. No. 4312 to Bonilla Express Company for freight charges, $48, for merchandise purchased. 4 Issued Ck. No. 4313 to Dillon Realty for monthly rent, $560. 9 Received and paid bill for advertising in The Nickel News , $84, Ck. No. 4314. 10 Issued Ck. No. 4315, $990, to Dorsey Company for invoice no. D642, recorded previously for $1,000, less 1 percent cash discount. 15 Paid wages recorded previously for first half of month, $1,678; Ck. No. 4316. 19 R. Jacobs, the owner, withdrew $900 for personal use; Ck. No. 4317. 25 Issued Ck. No. 4318 to First National Bank for payment on bank loan, $896, consisting of $800 on principal and $96 interest. 27 Issued Ck. No. 4319, $430, to Long Company for invoice no. 6317, recorded previously (no discount). 28 Voided Ck. No. 4320. 28 Paid wages recorded previously for second half of month, $1,648; Ck. No. 4321. 28 Received and paid telephone bill, $86; Ck. No. 4322, payable to Southwestern Telephone Company. Required 1. Journalize the transactions for February in the cash payments journal. Assume the periodic inventory method is used.

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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570
BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570

Solutions

Chapter
Section
Chapter 10, Problem 3PB
Textbook Problem

Jacobs Company had the following transactions that occurred during February of this year:

Feb. 1    Issued Ck. No. 4311, $637, to Barker Company for invoice no. 3113E, recorded previously for $650, less cash discount of $13.

2    Issued Ck. No. 4312 to Bonilla Express Company for freight charges, $48, for merchandise purchased.

4    Issued Ck. No. 4313 to Dillon Realty for monthly rent, $560.

9    Received and paid bill for advertising in The Nickel News, $84, Ck. No. 4314.

10    Issued Ck. No. 4315, $990, to Dorsey Company for invoice no. D642, recorded previously for $1,000, less 1 percent cash discount.

15    Paid wages recorded previously for first half of month, $1,678; Ck. No. 4316.

19    R. Jacobs, the owner, withdrew $900 for personal use; Ck. No. 4317.

25    Issued Ck. No. 4318 to First National Bank for payment on bank loan, $896, consisting of $800 on principal and $96 interest.

27    Issued Ck. No. 4319, $430, to Long Company for invoice no. 6317, recorded previously (no discount).

28    Voided Ck. No. 4320.

28    Paid wages recorded previously for second half of month, $1,648; Ck. No. 4321.

28    Received and paid telephone bill, $86; Ck. No. 4322, payable to Southwestern Telephone Company.

Required

  1. 1. Journalize the transactions for February in the cash payments journal. Assume the periodic inventory method is used.

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Chapter 10 Solutions

College Accounting (Book Only): A Career Approach
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