1. Determine the total amount credited to cash account in cash payments journal.2. Determine the balance of accounts payable - clifford company as of october 31 Goren Company uses a single-column purchases journal, a cash payments journal, and ageneral journal to record transactions with its suppliers and others. Record the followingtransactions in the appropriate journals.TransactionsOct. 5 Purchased merchandise on account for 20,000 from Hendry Company. Terms:2/10, n/30; FOB shipping point.Oct. 6 Paid 7,200 to Federated Insurance Company for a two-year fire insurance policy.Oct. 8 Purchased store supplies on account for 700 from Flint Supply Company. Terms:2/10, n/30.Oct. 11 Purchased merchandise on account for 14,000 from Adler Corporation. Terms:2/10, n/30; FOB shipping point.Oct. 13 Granted a reduction of 3,000 to Adler Corporation for merchandise purchased onOct 11 and returned because of damage.Oct. 15 Paid Hendry Company for merchandise purchased on October 5, less discount.Oct. 16 Purchased merchandise for 8,000 cash from Clifford Company.Oct. 21 Paid Adler Corporation for merchandise purchased on October 11, less merchandisereturned on October 13, less discount.Oct. 25 Purchased merchandise on account for 22,000 from Eaton Company. Terms: 2/10,n/30; FOB shipping point.Oct. 31 Purchased office equipment for 30,000 cash from Pate Office Supply Company

A cash payment diary is a unique notebook that allows you to keep track of all cash payments, or…

purchases journal, a cash pa general journal to record transactions with its suppliers and other transactions in the appropriate journals. Transactions Oct. 5 Purchased merchandise on account for 20,000 from Hends 2/10, n/30; FOB shipping point. Oct. 6 Paid 7,200 to Federated Insurance Company for a two-yea

purchases journal, a cash pa general journal to record transactions with its suppliers and other transactions in the appropriate journals. Transactions Oct. 5 Purchased merchandise on account for 20,000 from Hends 2/10, n/30; FOB shipping point. Oct. 6 Paid 7,200 to Federated Insurance Company for a two-yea

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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