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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You are provided with the following information: Sales for the year $400 000 Discounts provided during the year to customers for early payment $10 000 Doubtful debts expense for the year $5 000 Opening balance of accounts receivable $90 000 HI5020Tutorial T1 2021 Closing balance of accounts receivable $80 000 Opening balance of the provision for doubtful debts $9 000 Closing balance of the provision for doubtful debts $8 000 Cost of goods sold for the year $60 000 Purchases for the year (on credit terms) $80 000 Discounts received for early payment to suppliers $2 000 Stock write-offs owing to water damage caused by melting ice in the Antarctic $5 000 Opening balance of trade creditors $40 000 Closing balance of trade creditors $35 000 Opening balance of inventory $10 000 Closing balance of inventory $25 000…
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
Do I solve E9-17
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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I'm needing help on these questions for my Homework. Can anyone please help me?
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).
Record the journal enteries under the appropiate accounts that are provided. Account # Account Title 100000 Bank Account 110100 Miscellaneous Accounts Receivable 110400 Allowance for Bad Debt 200600 Inventory-Operating Supplies 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 210000 Prepaid Insurance 212000 Prepaid Advertising 216000 Deposits on Purchases 220110 Land (Direct Post) 220210 Property, Plant & Equipment (Direct Post) 220310 Accumulated Depreciation-PP&E (Direct Post) 300200 Payables-Miscellaneous 300700 Payables-Salaries and Wages 300800 Accrued Expenses 320000 Accrued Tax-Output 329000 Common Stock 330100 Retained Earnings (Direct Posting) 600000 Sales Revenue 610000 Sales Discounts 780000 Cost of Goods Sold January 3GBI received $55,692 in safety product inventory and $37,128 in raw materials from Dallas Bike Basics. This…
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QUESTION 1 The following debtor control account and debtors list were prepared by the owner of Siyadula Traders. The owner is unsure if he has correctly prepared it. REQUIRED: Jse the following information to prepare the correct account and list: Debtors control account for January 2021 Debtors list at 31 January 2021. General Ledger DEBTORS CONTROL ACCOUNT Jan 01 Balance b/d 54 300 Jan 31 Bank and discount CRJ5 36 200 Sales Returns SRJ 6 200 Sales SJ 62 110 Balance c/d 37 810 98 310 98 310 Feb 01 Balance b/d 37 810 Debtors List as at 31 January 2021 Debit Credit B. Afleck 12 525 M. Damon 19 085 J. Peter 18 100 A. Paul 9 200 D. Carter 17 900 76 810

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