R.Santiago invested $40,000 cash in the business 2 Sold merchandise to Lawrie Cc. for $61300 cash. The cost of the merchandise sold was 54.200 3 Purchased merchandise for $7,700 from J Mcskos using check no. 101. 14 Paid salary to H. Rivera $700 by issuing check no. 102 16 Sold merchandise on account to K. Stanton for $990, terms n/30 The cost ofiche merchandiseseldwas 600 22 A check of $9,000 is received from M. Mangini in fu for nvoice 10:scountgiven. Prepare a multiple-columo.cash receipts journal and record the transactions for May that she is be journalized. (Record entries in the order presented in the problem statement) R. SANTIAG Cash Receipt May 14
R.Santiago invested $40,000 cash in the business 2 Sold merchandise to Lawrie Cc. for $61300 cash. The cost of the merchandise sold was 54.200 3 Purchased merchandise for $7,700 from J Mcskos using check no. 101. 14 Paid salary to H. Rivera $700 by issuing check no. 102 16 Sold merchandise on account to K. Stanton for $990, terms n/30 The cost ofiche merchandiseseldwas 600 22 A check of $9,000 is received from M. Mangini in fu for nvoice 10:scountgiven. Prepare a multiple-columo.cash receipts journal and record the transactions for May that she is be journalized. (Record entries in the order presented in the problem statement) R. SANTIAG Cash Receipt May 14
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:kb)
Cash
Dr.
Slave for timer
R. SANTIAGO CD.
Cash Receipts Journal
Sales
Discounts
Dr.
Accounts
Receivable
Revenue
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Transcribed Image Text:May
R. Santiago invested $40,000 cash in the business,
1
2 Sold merchandise to Lawrie Cc. for $6.300 cash. The cost of the merchandise sold was 54.200
3
Purchased merchandise for $7,700 from J. Moskos using check no. 101.
14
Paid salary to H. Rivera $700 by issuing check no. 102.
16
Sold merchandise on account to K. Stanton for $900, terms n/30. The cost of the merchandisebeld was $600.
22
A check of $9,000 is received from M.Mangini in full for invoice 101: ociscount given.
(a)
Prepare a multiple-column cash receipts journal and record the transactions for May that should be journalized. (Record entries in
the order presented in the problem statement.)
R. SANTIAG
Cash Receipts
Account
Credited
Date
Ref.
2022
✓
Sales
Discounts
Dr.
k
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