For each of the five independent situations below, prepare a journal entry that summarizes the purchases, sales, and payments related to inventories in order to determine the amount of cash paid to suppliers. All dollars are in millions. Complete this question by entering your answers In the tabs below. Cash Paid to Supp General Journal Calculate the amount of cash paid to suppliers for each situation. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cost of Goods Situation Sold Inventory Increase (Decrease) Accounts Payable Increase (Decrease) Cash Paid to Suppliers 1 200 0 0 2 200 6 0 3 200 0 14 4 200 6 14 5 200 (6) (14) Cash Pad to Sung General Journal >
For each of the five independent situations below, prepare a journal entry that summarizes the purchases, sales, and payments related to inventories in order to determine the amount of cash paid to suppliers. All dollars are in millions. Complete this question by entering your answers In the tabs below. Cash Paid to Supp General Journal Calculate the amount of cash paid to suppliers for each situation. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cost of Goods Situation Sold Inventory Increase (Decrease) Accounts Payable Increase (Decrease) Cash Paid to Suppliers 1 200 0 0 2 200 6 0 3 200 0 14 4 200 6 14 5 200 (6) (14) Cash Pad to Sung General Journal >
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter11: Accounting For Purchases And Cash Payments
Section: Chapter Questions
Problem 3CE
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
Transcribed Image Text:For each of the five independent situations below, prepare a journal entry that summarizes the purchases, sales, and payments related
to inventories in order to determine the amount of cash paid to suppliers. All dollars are in millions.
Complete this question by entering your answers In the tabs below.
Cash Paid to
Supp
General
Journal
Calculate the amount of cash paid to suppliers for each situation.
Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10).
Cost of Goods
Situation
Sold
Inventory Increase
(Decrease)
Accounts Payable
Increase (Decrease)
Cash Paid to
Suppliers
1
200
0
0
2
200
6
0
3
200
0
14
4
200
6
14
5
200
(6)
(14)
Cash Pad to Sung
General Journal >
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