Transaction: On August 3, Design Thinking Pty Ltd received a cashpayment in the amount of $5,000 for training services that were billed(invoiced) for in June.Instructions: Record the transaction in the general journal by selecting thecorrect accounts that are debited and credited.General JournalAugust 3. [ Select ]$5,000[ Select ]$5,000

In the given case, Design thinking Pty ltd receives cash on august for the service that was rendered…

Answered: Instructions: Record the transaction in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following items is considered an original source document? Select one: a. accounts receivable b. company expense account c. purchase order d. general ledger
Instructions Adele Corp., a wholesaler of music equipment, issued $31,400,000 of 20-year, 5% callable bonds on March 1, 20Y1, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions Refer to the Chart of Accounts for exact wording of account fifles 20Y1 Mar. Sept. 20Y5 Sept. Chart of Accounts Journal 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds 1 1 Called the bond issue at 103, the rate provided in the bond indenture. (Omit entry for payment of interest.) X
The Transaction Register displays: O Deposits from vendors. O Payments received from customers. O Sales invoices to customers. O Checks written to vendors.
If a credit is issued to a customer, how will this affect the General Ledger Account?
Pharoah Company had these transactions during the current period. June 12 July 11 Nov. 28 Issued 81,500 shares of $1 par value common stock for cash of $305,625. Issued 4,150 shares of $102 par value preferred stock for cash at $109 per share. Purchased 3,050 shares of treasury stock for $9,800. Prepare the journal entries for the Pharoah Company transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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Instructions: Record the transaction in the general journal by selecting the correct accounts that are debited and credited.