debtorsan back to the businessBecord the following transactions in O. Daisy ledger 2009.Jan 1 Started a business with P10000 in a businessbank account3 Baught goods on credit for P3500 from K. Basima.9 Sold goods on cut to K. Lese mela for 24.000.15 Sold goods for P1350 recieving a cheque immediately30 Sold goods on credit to W. Rams P320031 Bought goods for P1800 by cheque.

Structure of the Ledger:Date: This column shows the date on which each transaction occurred.Details:…

Answered: debtors an back to the business Becord…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 17Q: A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300....

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Complete the following transaction and balance of each account 2008 June 01 started business with $600 in the bank and $50 cash June 02 bought goods on credit from C.Jone $500 June 03 credit sales to H.Henry $66 N.Nito $25 and Peter $45 June 04 good bought for cash $23 June 05 bought motor van playing by cheque $12 June 06 took cash out of the business $10 June 10 credit sales to the B.Barnes $24 K.Lyn $26 and Moore $65
Enter the following transactions in the appropriate accounts: 20X6 Aug 1 Started in business with £7,400 cash. == 2 Paid £7,000 of the opening cash into the bank. == 4 Bought goods on credit £410 from J Watson. == 5 Bought a van by cheque £4,920. == 7 Bought goods for cash £362. == 10 Sold goods on credit £218 to L Less. == 12 Returned goods to J Watson £42. == 19 Sold goods for cash £54. == 22 Bought fixtures on credit from Firelighters Ltd £820. == 24 F Holmes lent us £1,500 paying us the money by cheque. == 29 We paid J Watson his account by cheque £368. == 31 We paid Firelighters Ltd by cheque £820. Apply concept of financial accounting to prepare : Double entries, T Ac, Trial balance of above transactions.
A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300. Shipping charges are $100. The terms of the sale are 2/10, n/30, FOB Destination. What, if any, journal entry or entries will the seller record for these transactions?
Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
Need a general journal entry
what is the gournal jeneral entry for: 1. credit sales 2. borrowed $2000 from BSP Bank
xamus - cdn.student.uae.examus.net/?rldbqn=1&sessi... ACCT101_FEX_2021_2_Male A company purchased merchandise on credit with terms Ac Payable if the company pays SR485 cash on this account within ten days? e18 3/15, n/3O. How much will be debited to 33 - 34 abe18ce33 b. Accounts Payable should be credited in а. 485 113:22 9 కోల С. 470.45 95abe18ce 33 d. 500 95abe18ce 95abe18ce33 95aber8ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro F3 888 F4 FS E 5 F7 67 7 V T. 8 A 9 Y 6. U 11 9.
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Task 2: Raysoot Company has sold goods on credit RO 550,000 on 31st December 2020 and received RO 100,000 towards credit sales. The company had Allowance for bad debts (debit) balance of RO 55000 and the balance in accounts receivable accounts RO 450,000. Age of Accounts receivable Amount Percent Less than 5 days 225,000 5% 5 to 10 days 220,000 17% 11 to 15 days 40,000 25% 16 to 20 days 75,000 30% 21 to 25 days 50,000 40% Total 40,000 100% 450,000 26 to 30 days a) Calculate the amount required in the allowance for doubtful debts as on 31st December 2021, using accounts receivable method. (3 marks) b) Prepare journal entries for bad and doubtful debts, show the accounting treatment of bad and doubtful debts in income statement and balance sheet. (4 marks) c) Explain how the company can control the aged debts and the measures to collect them early. (4 marks).
Hy expert provide answer please
Please help me with show all calculation thanku
Q5. Kings way Itd carricd out the following transactions during the month of December 2015 1/12, Bought goods on credit 2/12, Cash sales banked immediately 8/12, Bought a motor van, paid immediately as follows; one quarter in cash and the rest by cheque 10/12, Goods sold on credit to customers 18/10, Transfer cash from bank 20/12, Owner puts in cash into the business 22/12 Goods that cost 500,000FCFA were sold to a customer in cash 159,000FCFA 100,000FCFA 3,000,000FCFA 400,000FCFA 10,000,000FCFA 1,000,000FCFA 650,000FCFA 100,000FCFA 40.000FCFA 25/12, Bought goods on credit 28/12, Customer paid his account by cheque 29/12, Sold goods on credit 30/12, Received a cheque from customer in full settlement of transaction dated December 10th Required; 450,000FCFA 350,000FCFA Record the above transactions in the classical journal Q5. TIMA operates a small business. The opening balance sheet at the start is given below. Amount (FCFA) 10,000,000 Amount (FCFA) (FCFA) Liabilities Capital Assets…

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