Horngren's Accounting: The Managerial Chapters (12th Edition) (loose Leaf Version)

12th Edition

ISBN: 9780134486826

Author: MILLER-NOBLES, Tracie L.; Mattison, Brenda L.; Matsumura, Ella Mae

Publisher: PEARSON

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Textbook Question

Chapter 7, Problem E7.20E

Recording transactions-cash payments journal

Learning Objective 3

Cash CR column total $8,928
Refer to information in Exercise E7-19.

Requirements

Prepare headings for a cash payments journal. Journalize the transactions that should be recorded in the cash payments journal.
Total each column of the cash payments journal.

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Chapter 7, Problem E7.19E

Chapter 7, Problem E7.21E

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Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST. Note: Any available cash discount is taken only on the sale price before taxes. Aug. 1 Purchased $2,100 of merchandise for cash. 2 Purchased $6,900 of merchandise; terms 3/10, n/30. 5 Sold merchandise costing $3,700 for $5,300; terms 2/10, n/30. 12 Paid for the merchandise purchased on August 2. 15 Collected the amount owing from the customer of August 5. 17 Purchased $6,100 of merchandise; terms n/15. 19 Recorded $7,100 of cash sales (cost of sales $5,900). View transaction list Journal entry worksheet 6 7 8 > 1 2 3 4 Record the cash purchase. Note: Enter debits before credits.

Question 33.

20 A credit to the account Cash-MDS Regular will most likely be recorded in what journal? Group of answer choices Check Disbursements Journal Special Journal Cash Disbursements Journal General Journal

Chapter 7 Solutions

Horngren's Accounting: The Managerial Chapters (12th Edition) (loose Leaf Version)

Ch. 7 - Which of the following benefits of an effective...Ch. 7 - Prob. 2QC Ch. 7 - Which of the following is not a special journal?...Ch. 7 - Mountain Day Spa sold merchandise inventory on...Ch. 7 - Prob. 5QC Ch. 7 - Centex Sound Systems purchased merchandise...Ch. 7 - Every transaction recorded in the cash payments...Ch. 7 - Prob. 8QC Ch. 7 - Which is a disadvantage of an enterprise resource...Ch. 7 - Prob. 1RQ

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