Horngren's Financial & Managerial Accounting (5th Edition)
5th Edition
ISBN: 9780133866292
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter C, Problem C.10SE
To determine
Cash Payments Journal: Cash payment journal is a form of special journal book which records the cash payments transactions which are being paid to suppliers or other sources.
To record: The transactions in the cash payment journal
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Entry for Cash Sales; Cash Over
The actual cash received from cash sales was $12,100 and the amount indicated by the cash register total was $12,074.
Journalize the entry to record the cash receipts and cash sales. If an amount box does not require an entry, leave it blank.
88
D
Accounts Receivable
Accounts Payable
Cash Short and Over
Petty Cash
DO NOT GIVE SOLUTION IN IMAGE
Chapter C Solutions
Horngren's Financial & Managerial Accounting (5th Edition)
Ch. C - Prob. 1QCCh. C - Prob. 2QCCh. C - Prob. 3QCCh. C - Prob. 4QCCh. C - Prob. 5QCCh. C - Centex Sound Systems purchased merchandise...Ch. C - Every transaction recorded in the cash payments...Ch. C - Prob. 8QCCh. C - Prob. 9QCCh. C - What is an accounting information system (AIS)?
Ch. C - Prob. 2RQCh. C - Explain the three basic components of an...Ch. C - Prob. 4RQCh. C - What is the purpose of a subsidiary ledger?Ch. C - Prob. 6RQCh. C - List the four special journals often used in a...Ch. C - Explain the posting process of the sales journal.Ch. C - Provide some examples of transactions that would...Ch. C - Explain the posting process of the cash payments...Ch. C - When is the general journal used in a manual...Ch. C - Prob. 14RQCh. C - Prob. 15RQCh. C - Prob. 16RQCh. C - How would a business record a sale of services on...Ch. C - Prob. 18RQCh. C - Evaluating features of an effective accounting...Ch. C - Prob. C.2SECh. C - Identifying special journals Use the following...Ch. C - Prob. C.4SECh. C - Prob. C.6SECh. C - Prob. C.8SECh. C - Prob. C.9SECh. C - Prob. C.10SECh. C - Posting transactions from a cash payments journal...Ch. C - Prob. C.12SECh. C - Prob. C.13SECh. C - Recording transactions-sales journal Feb. 1 Sold...Ch. C - Prob. C.15ECh. C - Prob. C.16ECh. C - Prob. C.17ECh. C - Prob. C.18ECh. C - Prob. C.19ECh. C - Prob. C.20ECh. C - Prob. C.21ECh. C - Prob. C.22ECh. C - Prob. C.23ECh. C - Prob. C.24APCh. C - Using the purchases, cash payments, and general...Ch. C - Prob. C.26APCh. C - Prob. C.27BPCh. C - Prob. C.28BPCh. C - Prob. C.29BPCh. C - Prob. C.30CPCh. C - Prob. C.31PSCh. C - Prob. 1COPCh. C - Prob. C.1CTDCCh. C - Didrikson Rubin, the auditor of Red Barn Farm...Ch. C - Communication Activity C-1 In 150 words or fewer,...
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- Please help mearrow_forwardPrepare journal entries for each of the following: a. Issued a check to establish a petty cash fund of $600. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Cash Cash Short and Over Miscellaneous Selling Expense Petty Cash Store Supplies fill in the blank d5b6b7fad01d048_2 fill in the blank d5b6b7fad01d048_3 fill in the blank d5b6b7fad01d048_5 fill in the blank d5b6b7fad01d048_6 b. The amount of cash in the petty cash fund is $200. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $235 and miscellaneous selling expense, $148. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Cash Notes Receivable Petty Cash Store Supplies fill in the blank 6f283ef56022f94_2 fill in the blank 6f283ef56022f94_3 fill in the blank…arrow_forward1arrow_forward
- A $100 petty cash fund has cash of $15 and receipts of $86. The journal entry to replenish the account would include a Select one: a. credit to Cash Over and Short for $3. b. credit to Cash for $86. C. credit to Petty Cash for $1. d. The answer does not exist e. debit to Cash for $86. Next pagearrow_forwardDo not give answer in imagearrow_forwardDo not give answer in imagearrow_forward
- 24. Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms of 1/10, n/30. Helix Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Baker Company make upon receipt of the check? a. Cash... Accounts Receivable. b. Cash...... Sales Returns and Allowances. Accounts Receivable. c. Cash...... Sales Returns and Allowances. Sales Discounts. Accounts Receivable. d. Cash...... Sales Discounts.. Sales Returns and Allowances. Accounts Receivable.... 4,400 4,356 644 4,356 600 44 4,950 50 4,400 5,000 5,000 600 4,400arrow_forwardUse the following cash payments journal to record the transactions. (If a box is not used in the journal leave the box empty; do not select any information and do not enter a zero.) A (Click the icon to view the transactions.) Cash Payments Journal Page 8 Ck. Post. Other Accounts Merchandise Date No. Account Debited Ref. Accounts DR Payable DR Inventory CR Cash CR 2024 Jan. More Info Jan. 5 Issued check no. 430 to purchase equipment for cash, $1,500. Jan. 7 Purchased merchandise inventory for cash, $400, issuing check no. 431. Jan. 18 Paid Knell Co. amount owed, $975, less $80 discount. Issued check no. 432. Jan. 28 Issued check no. 433 to pay utilities, $220. The bill was just received, and there is no liability recorded. Print Donearrow_forwardUse the following cash payments journal to record the transactions. (If a box is not used in the journal leave the box empty; do not select any information and do not enter a zero.) A (Click the icon to view the transactions.) Cash Payments Journal Page 8 Ck. Post. Other Accounts Merchandise More Info Date No. Account Debited Ref. Accounts DR Payable DR Inventory CR Cash CR 2024 Jan. Jan. 5 Issued check no. 430 to purchase equipment for cash, $1,600. Jan. 7 Purchased merchandise inventory for cash, $400, issuing check no. 431. Jan. 18 Paid Kettle Co. amount owed, $1,025, less $25 discount. Issued check no. 432. Jan. 28 Issued check no. 433 to pay utilities, $290. The bill was just received, and there is no liability recorded. Print Donearrow_forward
- Journalizing Cash Payments Lakeview Industries uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Sept. 5 Issued Check No. 318 to Clausen Corp. for merchandise purchased August 28, $6,500, terms 2/10, n/30. Payment is made within the discount period. 12 Issued Check No. 319 to McGonigle Co. for merchandise purchased September 2, $8,000, terms 1/10, n/30. A credit memo had previously been received from McGonigle Co. for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated September 8. 19 Issued Check No. 320 to Elite Systems for merchandise purchased August 19, $3,500, terms n/30. 27 Issued Check No. 321 to Glenn Falls for merchandise purchased September 17, $6,500, terms 2/10, n/30. Payment is made within the discount period. If an amount box does not require an entry, leave it…arrow_forwardJournalizing Cash Payments Lakeview Industries uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Sept. 5 Issued Check No. 318 to Clausen Corp. for merchandise purchased August 28, $6,500, terms 2/10, n/30. Payment is made within the discount period. 12 Issued Check No. 319 to McGonigle Co. for merchandise purchased September 2, $8,000, terms 1/10, n/30. A credit memo had previously been received from McGonigle Co. for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated September 8 19 Issued Check No. 320 to Elite Systems for merchandise purchased August 19, $3,500, terms n/30. 27 Issued Check No. 321 to Glenn Falls for merchandise purchased September 17, $6,500, terms 2/10, n/30. Payment is made within the discount period. If an amount box does not require an entry, leave it blank or enter…arrow_forwardJournalizing Cash Payments Lakeview Industries uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Sept. 5 Issued Check No. 318 to Clausen Corp. for merchandise purchased August 28, $6,100, terms 2/10, n/30. Payment is made within the discount period. 12 Issued Check No. 319 to McGonigle Co. for merchandise purchased September 2, $8,300, terms 1/10, n/30. A credit memo had previously been received from McGonigle Co. for merchandise returned, $200. Payment is made within the discount period after deduction for the return dated September 8. 19 Issued Check No. 320 to Elite Systems for merchandise purchased August 19, $3,700, terms n/30. 27 Issued Check No. 321 to Glenn Falls for merchandise purchased September 17, $6,800, terms 2/10, n/30. Payment is made within the discount period.arrow_forward
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