View transaction listJournal entry worksheet2Record the first installment payment on October 31, 2021. Assume noreversing entries were prepared.Note: Enter debits before credits.DateOctober 31General JournalDebitCreditView general journalRecord entryClear entry

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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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a. Journalize the entry to record the issuance of the note on January 1. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. b. b. Journalize the entry to record the payment of the note at maturity, including interest. Assume a 360-day year. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
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Journalizing Purchases Returns and Allowances and Posting to General Ledger and Accounts Payable Ledger Transactions for July and the beginning balances for selected general ledger and accounts payable ledger accounts are shown. July 7 Returned merchandise to Starcraft Industries, $750. 15 Returned merchandise to XYZ, Inc., $530. 27 Returned merchandise to Datamagic, $820. General Ledger Account No. Account Balance July 1, 20-- 202 Accounts Payable $10,640 501.1 Purchases Returns and Allowances Accounts Payable Ledger Name Balance July 1, 20-- Datamagic $2,680 Starcraft Industries 4,310 XYZ, Inc. 3,650 Required: Using page 3 of a general journal and the general ledger accounts and accounts payable ledger accounts, journalize and post the transactions. GENERAL JOURNAL PAGE 3 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Jul. 7 Jul. 15 Jul. 27 GENERAL LEDGER ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jul. 1 Balance 10,640.00
need help finding the net payment and credit towards account still due invoice amount= $538.42 date of invoice= April 23 Date of payment= May 14 credit terms= 3/10,1/15, n/30 E.O.M Net price= ?
Listed below are selected transactions of Riverbed Department Store for the current year ending December 31. 1. 2. 3. 4. On December 5, the store received $520 from the Selig Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. During December, cash sales totaled $823,200, which includes the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. On December 10, the store purchased for cash three delivery trucks for $115,700. The trucks were purchased in a state that applies a 5% sales tax. The store sold 29 gift cards for $100 per card. At year-end, 24 of the gift cards are redeemed. Riverbed expects three of the cards to expire unused. Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting journal entries relative to the transactions that would be required to present fair financial statements at December 31. Date each…
Whispering Steel Company, as lessee, signed a lease agreement for equipment for 5 years, beginning December 31, 2020. Annual rental payments of $54,000 are to be made at the beginning of each lease year (December 31). The interest rate used by the lessor in setting the payment schedule is 6%; Whispering's incremental borrowing rate is 8%. Whispering is unaware of the rate being used by the lessor. At the end of the lease, Whispering has the option to buy the equipment for $5,000, considerably below its estimated fair value at that time. The equipment has an estimated useful life of 7 years, with no salvage value. Whispering uses the straight-line method of depreciation on similar owned equipment. Click here to view factor tables.
Accounts Receivable Subsidiary Ledger The debits and credits from two transactions are presented in the following customer account: Mobility Products Inc. NAME 46 W. Main St. ADDRESS Debit Date Item Post. Ref. Credit Balance Aug. 1 Balance 463 Aug. 10 Invoice No. 51 CR32 84 379 143 Aug. 17 Invoice No. 45 R22 522 Select the choice that describes each transaction and the source of each posting. Journal page Date Action Invoice No. Posted From Aug. 10 Aug. 17
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vable Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.) View transaction list Journal entry worksheet 1 Record cash received on note plus interest.
Brief Exercise 9-12 (Algo) Record bond issue at a discount and related annual interest (LO9-5) Pretzelmania, Incorporated, issues 5%, 20-year bonds with a face amount of $68,000 for $60,200 on January 1, 2024. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round final answers to the nearest whole dollar.) View transaction list Journal entry worksheet

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View transaction list Journal entry worksheet 2 Record the first installment payment on October 31, 2021. Assume no reversing entries were prepared. Note: Enter debits before credits. Date October 31 General Journal Debit Credit View general journal Record entry Clear entry