9 Borrowed $5,500 by giving a note to the bank. 13 The owner, Dale Trent, invested an additional $7,000 cash into the business. 18 Sold merchandise to B. Baird for $460 cash. Co
9 Borrowed $5,500 by giving a note to the bank. 13 The owner, Dale Trent, invested an additional $7,000 cash into the business. 18 Sold merchandise to B. Baird for $460 cash. Co
College Accounting (Book Only): A Career Approach
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Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 7QY: The schedule of accounts payable lists each creditors account balance, and the total equals the...
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StickUps Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. The following transactions occurred during the month of September 2020:
Sept. | 3 | Purchased merchandise on credit for $6,200 from Pacer Co. | |
7 | Sold merchandise on credit to J. Namal for $1,800, subject to a 2% sales discount if paid by the end of the month. Cost, $1,000. | ||
9 | Borrowed $5,500 by giving a note to the bank. | ||
13 | The owner, Dale Trent, invested an additional $7,000 cash into the business. | ||
18 | Sold merchandise to B. Baird for $460 cash. Cost, $280. | ||
22 | Paid Pacer Co. $6,200 for the merchandise purchased on September 3. | ||
27 | Received $1,764 from J. Namal in payment of the September 7 purchase. | ||
30 |
Paid salaries of $3,200. |
Journalize the September transactions that should be recorded in the Cash Receipts Journal, assuming the perpetual inventory system. (Enter transactions in order)
Image attached below for reference:
![STICKUPS COMPANY
Cash Receipts Journal
COGS Dr.
Sales
Discount Dr.
Accounts
Other Accounts
Date
Accounts Credited
Cash Dr.
Sales Cr.
Merchandise
Receivable Cr.
Cr.
Inventory Cr.
Sept. 03
Totals](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcb0c5dd8-bf64-4fb4-b563-d51d50704296%2Fd9cc8508-45fe-4c16-9cc7-df0391817a9b%2F7hj47xi_processed.png&w=3840&q=75)
Transcribed Image Text:STICKUPS COMPANY
Cash Receipts Journal
COGS Dr.
Sales
Discount Dr.
Accounts
Other Accounts
Date
Accounts Credited
Cash Dr.
Sales Cr.
Merchandise
Receivable Cr.
Cr.
Inventory Cr.
Sept. 03
Totals
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