FINANCIAL+MANAG.ACCT.
9th Edition
ISBN: 9781260728774
Author: Wild
Publisher: RENT MCG
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Prepare journal entries to record the following transactions. Create a T-account for AccountsPayable, post any entries that affect the account, and calculate the ending balance for the account. Assume anAccounts Payable beginning balance of $7,500.A. May 12, purchased merchandise inventory on account. $9,200B. June 10, paid creditor for part of previous month’s purchase, $11,350
At the end of the of May, the sales journal of Horizons appears as follow:
Date
Customers (debtors)
Invoice No.
Amount
May 6
10
17
25
Smith
Harris
Buck
Harris
3,880
2,940
1,850
1,340
31
Total
10,010
Horizon also record the returns of some merchandise with the following Sales Return Journal:
Date
Customers (debtors)
Invoice No.
Amount
May 9
May 20
Smith
Harris
400
350
31
Total
750
Required:
A. Prepare an Account Receivable subsidiary ledger (customer accounts) and post all the entries from the journals.
B. prepare General ledger from the above journals.
Read through the information below for selected transactions during the month of December, 2021 and prepare the required jounal entry to record the transaction. Post each of the entries below to the general ledger T-accounts attached .
Sold Merchandise for $5,000 to Lee Corp on account on December 9. Cost of the merchandise was $3,390 and the terms of the sale were 1/15, n/30.
Chapter 4 Solutions
FINANCIAL+MANAG.ACCT.
Ch. 4 - Prob. 1QSCh. 4 - Prob. 2QSCh. 4 - Merchandise accounts and computations C2 Use the...Ch. 4 - Computing net invoice amounts P1 Compute the...Ch. 4 - Recording purchases, returns, and discounts taken...Ch. 4 - Prob. 6QSCh. 4 - Prob. 7QSCh. 4 - Prob. 8QSCh. 4 - Prob. 9QSCh. 4 - Prob. 10QS
Ch. 4 - Prob. 11QSCh. 4 - Prob. 12QSCh. 4 - Prob. 13QSCh. 4 - Prob. 14QSCh. 4 - Prob. 15QSCh. 4 - Prob. 16QSCh. 4 - Prob. 17QSCh. 4 - Prob. 18QSCh. 4 - Prob. 19QSCh. 4 - Prob. 20QSCh. 4 - Prob. 21QSCh. 4 - Prob. 22QSCh. 4 - Prob. 23QSCh. 4 - Prob. 24QSCh. 4 - Prob. 25QSCh. 4 - Prob. 26QSCh. 4 - Prob. 27QSCh. 4 - Prob. 28QSCh. 4 - Prob. 29QSCh. 4 - Prob. 30QSCh. 4 - Prob. 31QSCh. 4 - Prob. 1ECh. 4 - Prob. 2ECh. 4 - Exercise 4-3 Recording purchase, purchase returns...Ch. 4 - Prob. 4ECh. 4 - Prob. 5ECh. 4 - Exercise 4-4 Recording sales, sales returns and...Ch. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 - Prob. 9ECh. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13ECh. 4 - Prob. 14ECh. 4 - Prob. 15ECh. 4 - Prob. 16ECh. 4 - Prob. 17ECh. 4 - Prob. 18ECh. 4 - Prob. 19ECh. 4 - Prob. 20ECh. 4 - Prob. 21ECh. 4 - Prob. 22ECh. 4 - Prob. 23ECh. 4 - Prob. 24ECh. 4 - Prob. 25ECh. 4 - Prob. 26ECh. 4 - Prob. 27ECh. 4 - Prob. 28ECh. 4 - Prob. 29ECh. 4 - Prob. 1PSACh. 4 - Prob. 2PSACh. 4 - Prob. 3PSACh. 4 - Prob. 4PSACh. 4 - Prob. 5PSACh. 4 - Prob. 1PSBCh. 4 - Prob. 2PSBCh. 4 - Prob. 3PSBCh. 4 - Prob. 4PSBCh. 4 - Prob. 5PSBCh. 4 - Prob. 4SPCh. 4 - Prob. 1GLPCh. 4 - The General Ledger tool in connect several of the...Ch. 4 - Prob. 3GLPCh. 4 - Prob. 1.1AACh. 4 - Prob. 1.2AACh. 4 - Prob. 1.3AACh. 4 - Prob. 1.4AACh. 4 - Prob. 2.1AACh. 4 - Prob. 2.2AACh. 4 - Prob. 2.3AACh. 4 - Prob. 3.1AACh. 4 - Prob. 3.2AACh. 4 - Prob. 3.3AACh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - How does a company that uses a perpetual inventory...Ch. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 1BTNCh. 4 - COMMUNICATING IN PRACTICE C2 P3 P5 BTN 4-4 You are...Ch. 4 - Prob. 4BTN
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