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. **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.

Bookkeeping can be defined as the recording of monetary transactions regularly. It consists of four…

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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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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.

**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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