Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

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Answer 1

Question

Chapter 12, Problem 11SPB

1.

To determine

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

2.

To determine

Post the cash payment journal to the general ledger and accounts payable ledger.

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Kindly give a step by step details explaination of each answers especially question 5 and 6. Please, don't just give answers without explaining how we arrived at the answer. Thanks! The following are the questions: 1. What is the general journal entries the transactions described for Hogan Company. All sales are on account. Use the date of December 31 to make the entry to summarize sales for the year in the old territory and new territory. 2. Make the journal entries to record the write-off of accounts in the new territory. 3. Make the journal entry to record the write-off of accounts in the old territory. 4. Make the entry on December 31 to record uncollectible accounts expense for 20X1 for both territories. Make the calculation using the percentages developed by Hogan. 5. Let’s say the Allowance for Doubtful Accounts had a credit balance of $24,800 on September 30 before any of the above entries were made. Calculate the balance in the allowance account after…

Financial accounting

General Accounting

Answer 2

Question

Chapter 12, Problem 11SPB

1.

To determine

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

2.

To determine

Post the cash payment journal to the general ledger and accounts payable ledger.

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Answer 3

Question

Chapter 12, Problem 11SPB

1.

To determine

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

2.

To determine

Post the cash payment journal to the general ledger and accounts payable ledger.

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Answer 4

Question

Chapter 12, Problem 11SPB

1.

To determine

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

2.

To determine

Post the cash payment journal to the general ledger and accounts payable ledger.

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Answer 5

Chapter 12, Problem 11SPB

1.

To determine

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

2.

To determine

Post the cash payment journal to the general ledger and accounts payable ledger.

Answer 6

Chapter 12, Problem 11SPB

1.

To determine

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

Answer 7

Chapter 12, Problem 11SPB

1.

To determine

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

Answer 8

2.

To determine

Post the cash payment journal to the general ledger and accounts payable ledger.

Answer 9

2.

To determine

Post the cash payment journal to the general ledger and accounts payable ledger.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 12 - LO1 The types of special journals a business uses...Ch. 12 - Prob. 2TF Ch. 12 - Prob. 3TF Ch. 12 - Prob. 4TF Ch. 12 - LO4 Purchases returns and allowances are recorded...Ch. 12 - The first step in posting the sales journal to the...Ch. 12 - LO3 In the cash receipts journal, each amount in...Ch. 12 - The journal that should be used to record the...Ch. 12 - A purchases journal usually is used to record all...Ch. 12 - In the cash payments journal, each amount in the...

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

Solution Summary: The author explains how to prepare a cash payments journal and calculate the amount of purchases discounts (credit) on 4th May.

Concept explainers

Prepare the given transactions in a cash payments journal and total the each column of cash payments journal.

Post the cash payment journal to the general ledger and accounts payable ledger.

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Chapter 12 Solutions