Ali Co. uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash receipts journal. 3 The company purchased $2,700 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $713 to J. Than for $783 on credit, subject to a $16 sales discount if paid by the end of the month. 9 The company borrowed $3,075 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,375 cash to the company. 18 The company sold merchandise costing $113 to B. Cox for $201 cash. 22 The company paid Hart Co. $2,700 cash for the merchandise purchased on November 3. 27 The company received $767 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,350 in cash. Nov.
Ali Co. uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash receipts journal. 3 The company purchased $2,700 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $713 to J. Than for $783 on credit, subject to a $16 sales discount if paid by the end of the month. 9 The company borrowed $3,075 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,375 cash to the company. 18 The company sold merchandise costing $113 to B. Cox for $201 cash. 22 The company paid Hart Co. $2,700 cash for the merchandise purchased on November 3. 27 The company received $767 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,350 in cash. Nov.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education