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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

Enter the following transactions in a cash payments journal like the one illustrated in the chapter:

 Aug. 2 Issued Check No. 193 in payment of August rent (Rent Expense), $2,200.

6 Issued Check No. 194 to Mason Hardware in payment of merchandise purchased on account, $1,700, less 2% discount. The check was written for $1,666.

10 Issued Check No. 195 to Augie’s Wholesale for cash purchase of merchandise, $2,730.

To determine

Record the given transactions in a cash payments journal.

Explanation

Cash payments journal: Cash payments journal refers to the journal that is used to record the all transaction which is involve the cash payments. For example, the business paid cash to employees (salary paid to employees).

Cash payments journal is used to record merchandise purchases made in cash and payments of accounts payable. It also records all other cash payments to various purposes...

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