2. Receipt of promissory note from customers in settlement of open accounts. 3. Estimate of uncollectible accounts. 4. Returns and allowances for merchandise sold for cash. 5. Issuance of promissory note for loan proceeds from bank. 6. Initial investments : cash and merchandise. 7. Sold merchandise, C.O.D. 8. Purchased office supplies on account. 9. Withdrawal of merchandise for personal use. 10. Depreciation of fixed assets. 11. Paid salary of employees. 12. Paid 50% of the account in No. 8 above. 13. Sold merchandise. Collected ½ and received a note for the balance.. 14. Payment of expenses. 15. Paid freight for merchandise sold. 16. Payment to suppliers for merchandise bought on account. 17. Purchase of land on account. 18. Bought merchandise. Paid ½ and issued a 30-day note for the balance. 19. Payment of interest due on bank loans. 20. Refund from suppliers 21. Returns and allowances for merchandise purchased on account. 22. Accrual of income. 23. Additional investment in the form of equipment.

2. Receipt of promissory note from customers in settlement of open accounts. 3. Estimate of uncollectible accounts. 4. Returns and allowances for merchandise sold for cash. 5. Issuance of promissory note for loan proceeds from bank. 6. Initial investments : cash and merchandise. 7. Sold merchandise, C.O.D. 8. Purchased office supplies on account. 9. Withdrawal of merchandise for personal use. 10. Depreciation of fixed assets. 11. Paid salary of employees. 12. Paid 50% of the account in No. 8 above. 13. Sold merchandise. Collected ½ and received a note for the balance.. 14. Payment of expenses. 15. Paid freight for merchandise sold. 16. Payment to suppliers for merchandise bought on account. 17. Purchase of land on account. 18. Bought merchandise. Paid ½ and issued a 30-day note for the balance. 19. Payment of interest due on bank loans. 20. Refund from suppliers 21. Returns and allowances for merchandise purchased on account. 22. Accrual of income. 23. Additional investment in the form of equipment.

Name: SALES (SJ), PURCHASES JOURNAL (PJ), CASH RECEIPTS JOURNAL (CRJ), CASH
Uploaded: 2024-03-04T10:43:15.000Z
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Description: SALES (SJ), PURCHASES JOURNAL (PJ), CASH RECEIPTS JOURNAL (CRJ), CASHDISBURSEMENTS JOURNAL (CDJ) OR GENERAL JOURNAL (GJ)USE CODES...1. Issuance of check in payment of account.2. Receipt of promissory note from customers in settlement of open account

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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Which one of the following items requires an adjustment on the bank side of the bank reconciliation? A. interest earned B. a bank service charge C. a note collected by the bank D. deposits in transit
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