Homework Help is Here – Start Your Trial Now!
Business
Accounting
Create a general journal for each transaction December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the S590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 11. 47 48 December 17: Byte received invoice number 26354 in the amount of $725.00 from the local newspaper for advertising. 12. 49 50 51 December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $720.00. 13. 52 December 19: Byte sold 17 Super toners to a customer on account for $59.00 each. The sales order number was 12101. 14. 53 54 December 19: Byte records the cost of the 17 Super Toners sold using FIFO. The sales order number was 12101. 15. 55 56 December 21: Byte received an emailed invoice in the amount of $5,500.00 for computers that were drop shipped and received today. 16. 57 58 December 21: Byte billed varions miscellaneous local customers $11,000.00 for computers that were delivered today. 17. 59 60 December 21: Record the cost of the computers that were sold today. 61 18. 62 December 22: Check i 6005 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll tates at this time.) 19. 63 64 December 22: Byte received a bill for $1,095.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 20. 65 66 December 22: Check 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. 21. 67

Create a general journal for each transaction December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the S590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 11. 47 48 December 17: Byte received invoice number 26354 in the amount of $725.00 from the local newspaper for advertising. 12. 49 50 51 December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $720.00. 13. 52 December 19: Byte sold 17 Super toners to a customer on account for $59.00 each. The sales order number was 12101. 14. 53 54 December 19: Byte records the cost of the 17 Super Toners sold using FIFO. The sales order number was 12101. 15. 55 56 December 21: Byte received an emailed invoice in the amount of $5,500.00 for computers that were drop shipped and received today. 16. 57 58 December 21: Byte billed varions miscellaneous local customers $11,000.00 for computers that were delivered today. 17. 59 60 December 21: Record the cost of the computers that were sold today. 61 18. 62 December 22: Check i 6005 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll tates at this time.) 19. 63 64 December 22: Byte received a bill for $1,095.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 20. 65 66 December 22: Check 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. 21. 67

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

help

 

Create a general journal for each transaction K L H 46 December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the S590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 11. 47 48 December 17: Byte received invoice number 26354 in the amount of $725.00 from the local newspaper for advertising. 12. 49 50 December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $720.00. 51 13. 52 December 19: Byte sold 17 Super toners to a customer on account for $59.00 each. The sales order number was 12101. 14. 53 54 December 19: Byte records the cost of the 17 Super Toners sold using FIFO. The sales order number was 12101. 15. 55 56 December 21: Byte received an emailed invoice in the amount of $5,500.00 for computers that were drop shipped and received today. 16. 57 58 December 21: Byte billed various miscellaneous local customers $11,000.00 for computers that were delivered today. 17. 59 60 December 21: Record the cost of the computers that were sold today. 61 18. 62 December 22: Check 6005 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll taxes at this time.) 19. 63 64 December 22: Byte received a bill for $1,095.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 20. 65 66 December 22: Check # 6006 was issued to pay the advertising bill that was previously 21. received and recorded from the local newspaper for advertising, invoice number 26354. 67 68
Transcribed Image Text:Create a general journal for each transaction K L H 46 December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the S590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 11. 47 48 December 17: Byte received invoice number 26354 in the amount of $725.00 from the local newspaper for advertising. 12. 49 50 December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $720.00. 51 13. 52 December 19: Byte sold 17 Super toners to a customer on account for $59.00 each. The sales order number was 12101. 14. 53 54 December 19: Byte records the cost of the 17 Super Toners sold using FIFO. The sales order number was 12101. 15. 55 56 December 21: Byte received an emailed invoice in the amount of $5,500.00 for computers that were drop shipped and received today. 16. 57 58 December 21: Byte billed various miscellaneous local customers $11,000.00 for computers that were delivered today. 17. 59 60 December 21: Record the cost of the computers that were sold today. 61 18. 62 December 22: Check 6005 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll taxes at this time.) 19. 63 64 December 22: Byte received a bill for $1,095.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 20. 65 66 December 22: Check # 6006 was issued to pay the advertising bill that was previously 21. received and recorded from the local newspaper for advertising, invoice number 26354. 67 68
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Market Efficiency
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
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS