Question:3.6 Golden Restaurant's May credit card statement shows: beginning balance $8,000, purchases $12,000, payments $15,000, and bank charges $100. Give the ending balance.
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- Question 1 Catherine’s Cookies has a beginning balance in the Accounts Payable control total account of RO 8,200. In the cash disbursements journal, the Accounts Payable column has total debits of RO 6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of RO10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger? Question 2 Record the following transactions in the cash receipts journal. Jun. 12 Your company received payment in full from Jolie Inc. in the amount of RO1,225 for merchandise purchased on June 4 for RO1,250, invoice number No.1032. Jolie Inc. was offered terms of 2/10, n/30. Record the payment. Jun. 15 Portman Inc. mailed you a check for RO2500. The company paid for invoice No.1027, dated June 1, in the amount of RO2,500, terms offered 3/10, n/30. Jun. 17 Your company received a refund check (its check No.12440) from the State…In the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days when the entire amount is due number of days in the discount period full amount of the invoice 1% cash discount if paid within the credit period[The following information applies to the questions displayed below.] Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,456,448. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the…
- When a company makes a sale and accepts a credit card payment from a customer, the company: Multiple Choice debits Cash. credits Accounts Receivable. credits Cash. debits Accounts Receivable. < Prev 29 of 50 Next T:TNeed help on figuring out what to put for account/explanation for the journal entryThe accompanying table, Data table Date Deposit (Withdrawal) Date Deposit (Withdrawal) 1/1/20 $8,000 1/1/22 $3,272 1/1/21 $(6,540) 1/1/23 $5,255 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) , shows a series of transactions in a savings account. The account pays 5% simple interest, and the account owner withdraws interest as soon as it is paid. Calculate the following: a. The account balance at the end of each year. (Assume that the account balance at December 31, 2019, is zero.) b. The interest earned each year. c. The true rate of interest that the investor earns in this account. Question content area bottom Part 1 a. The account balance at the end of 2020 is $8,0008,000. (Round to the nearest dollar.) Part 2 The account balance at the end of 2021 is $1,9531,953. (Round to the nearest dollar.)
- K The credit card with the transactions described on the right uses the average daily balance method to calculate interest. The monthly interest rate is 2.5% of the average daily balance. Calculate parts a-d using the statement on the right. Transaction Description Previous balance, $6220.00 March 1 Billing date March 5 Payment March 7 Charge: Restaurant March 12 Charge: Groceries $350.00 credit $60.00 $90.00 March 21 Charge: Car Repairs $240.00 March 31 End of billing period Payment Due Date: April 9 Transaction Amount ... a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $ (Round to the nearest cent as needed.) c. Find the balance due on April 1. The balance due on April 1 is $ (Use the answer from part b to find this answer.) b. Find the interest to be paid or April 1, the next billing date. Round to the nearest cent. The interest to be paid on April 1 is $ (Use the answer from part a to find this…Total Cash (Dr.) = Total Sales Discounts (Dr.) = Total Sales (Cr.) = Total Accounts Receivable (Cr.) = Total Notes Payable (Cr.)=Continue using the journal and journalize the following transaction: Mar. 31. Received bank statement showing March bank service charge, $30.00. M45.