Presented below are selected transactions of Swifty Company. Swifty sells in large quantities to other companies and also sells its product in a small retail outlet. March 1 Sold merchandise on account to Dodson Company for $11,000, terms 4/10, n/30. 3 Dodson Company returned merchandise worth $400 to Swifty. 9 Swifty collected the amount due from Dodson Company from the March 1 sale. 15 Swifty sold merchandise for $1,000 in its retail outlet. The customer used his Swifty credit card. 31 Swifty added 1.40% monthly interest to the customer’s credit card balance.
Presented below are selected transactions of Swifty Company. Swifty sells in large quantities to other companies and also sells its product in a small retail outlet. March 1 Sold merchandise on account to Dodson Company for $11,000, terms 4/10, n/30. 3 Dodson Company returned merchandise worth $400 to Swifty. 9 Swifty collected the amount due from Dodson Company from the March 1 sale. 15 Swifty sold merchandise for $1,000 in its retail outlet. The customer used his Swifty credit card. 31 Swifty added 1.40% monthly interest to the customer’s credit card balance.
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 14Q: A journal entry that requires a debit to Accounts Receivable and a credit to Sales goes in which...
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Question
CAN SOMEONE HELP ME MAKE A DEBIT AND CREDIT TABLE?
Presented below are selected transactions of Swifty Company. Swifty sells in large quantities to other companies and also sells its product in a small retail outlet.
| March 1 | Sold merchandise on account to Dodson Company for $11,000, terms 4/10, n/30. | |
| 3 | Dodson Company returned merchandise worth $400 to Swifty. | |
| 9 | Swifty collected the amount due from Dodson Company from the March 1 sale. | |
| 15 | Swifty sold merchandise for $1,000 in its retail outlet. The customer used his Swifty credit card. | |
| 31 | Swifty added 1.40% monthly interest to the customer’s credit card balance. |
Transcribed Image Text:**Journal Entry Template for Transactions**
Below is a template to prepare journal entries for given transactions. Please note, you should ignore the entries and explanations related to the cost of goods sold.
**Instructions:**
- Credit account titles are automatically indented when the amount is entered.
- Do not indent manually.
- Record the journal entries in the order presented in the problem.
| Date | Account Titles and Explanation | Debit | Credit |
|------|--------------------------------|-------|--------|
| | | | |
| | | | |
| | | | |
| | | | |
| | | | |
| | | | |
| | | | |
| | | | |
| | | | |
**Template Description:**
1. **Date Column**: Select the appropriate date of the transaction.
2. **Account Titles and Explanation Column**: Enter the account titles affected by the transaction along with a brief explanation.
3. **Debit Column**: Enter the debit amount for the transaction.
4. **Credit Column**: Enter the credit amount for the transaction.
Use this template to ensure accuracy and consistency in preparing your journal entries.
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