Received $2,085 cash in payment of $2,000 note receivable and interest $85. 1. Journalize the transactions for May in the cash receipths journal and the sales journal. Assume the periodic inventory method is used. 2. If you are using Working Papers, total and rule the journals. Prove the equality of the debit and credit totals.
Received $2,085 cash in payment of $2,000 note receivable and interest $85. 1. Journalize the transactions for May in the cash receipths journal and the sales journal. Assume the periodic inventory method is used. 2. If you are using Working Papers, total and rule the journals. Prove the equality of the debit and credit totals.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter10: Cash Receipts And Cash Payments
Section: Chapter Questions
Problem 3PA: MacDonald Bookshop had the following transactions that occurred during February of this year:...
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Received $2,085 cash in payment of $2,000 note receivable and interest $85. 1. Journalize the transactions for May in the cash receipths journal and the sales journal. Assume the periodic inventory method is used. 2. If you are using Working Papers, total and rule the journals. Prove the equality of the debit and credit totals.
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