Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded. Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded. Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded. Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded. Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded. General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order. To Record: The transactions in a sales journal.

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Answer 1

Question

Chapter C, Problem C.31PS

1.

To determine

Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded.

Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded.

Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded.

Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded.

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

To Record: The transactions in a sales journal.

Requirement 2:

To determine

To Calculate: Total each column of the sales journal.

Requirement 3:

To determine

To Show: How posting would be made by writing the accounts numbers and check marks in the journals.

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Yao Ming Traders has the following transaction data: beginning inventory $9,200, purchases $70,000, purchase returns $3,000, freight-in $4,100, and ending inventory $12,500. Cost of goods sold is? a) $67,800 b) $70,300 c) $68,500 d) $66,800

Answer 2

Question

Chapter C, Problem C.31PS

1.

To determine

Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded.

Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded.

Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded.

Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded.

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

To Record: The transactions in a sales journal.

Requirement 2:

To determine

To Calculate: Total each column of the sales journal.

Requirement 3:

To determine

To Show: How posting would be made by writing the accounts numbers and check marks in the journals.

Expert Solution & Answer

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Answer 3

Question

Chapter C, Problem C.31PS

1.

To determine

Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded.

Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded.

Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded.

Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded.

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

To Record: The transactions in a sales journal.

Requirement 2:

To determine

To Calculate: Total each column of the sales journal.

Requirement 3:

To determine

To Show: How posting would be made by writing the accounts numbers and check marks in the journals.

Expert Solution & Answer

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Answer 4

Question

Chapter C, Problem C.31PS

1.

To determine

Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded.

Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded.

Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded.

Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded.

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

To Record: The transactions in a sales journal.

Requirement 2:

To determine

To Calculate: Total each column of the sales journal.

Requirement 3:

To determine

To Show: How posting would be made by writing the accounts numbers and check marks in the journals.

Expert Solution & Answer

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Answer 5

Chapter C, Problem C.31PS

1.

To determine

Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded.

Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded.

Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded.

Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded.

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

To Record: The transactions in a sales journal.

Requirement 2:

To determine

To Calculate: Total each column of the sales journal.

Requirement 3:

To determine

To Show: How posting would be made by writing the accounts numbers and check marks in the journals.

Answer 6

Chapter C, Problem C.31PS

1.

To determine

Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded.

Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded.

Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded.

Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded.

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

To Record: The transactions in a sales journal.

Answer 7

Chapter C, Problem C.31PS

1.

To determine

Special Journal: It is a book where only specific type of monetary transactions such as cash receipts, cash payments, credit sales, and credit purchases are recorded.

Sales Journal: It is a special book where only sales transactions that are sold to customer on credit are recorded.

Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.

Cash Receipts Journal: It is a special book where only cash receipts transactions that are received from customers or other sources are recorded.

Cash Payments Journal: It is a special book where only cash payments transactions that are paid to the supplier or other sources are recorded.

General Journal: It is a book where all the monetary transactions are recorded in the form of journal entries on the date of their occurrence in a chronological order.

To Record: The transactions in a sales journal.

Answer 8

Requirement 2:

To determine

To Calculate: Total each column of the sales journal.

Answer 9

Requirement 2:

To determine

To Calculate: Total each column of the sales journal.

Answer 10

Requirement 3:

To determine

To Show: How posting would be made by writing the accounts numbers and check marks in the journals.

Answer 11

Requirement 3:

To determine

To Show: How posting would be made by writing the accounts numbers and check marks in the journals.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. C - Prob. 1QC Ch. C - Prob. 2QC Ch. C - Prob. 3QC Ch. C - Prob. 4QC Ch. C - Prob. 5QC Ch. C - Centex Sound Systems purchased merchandise...Ch. C - Every transaction recorded in the cash payments...Ch. C - Prob. 8QC Ch. C - Prob. 9QC Ch. C - What is an accounting information system (AIS)?

Solution Summary: The author explains how to record transactions in a sales journal, cash receipts journal and cash payments journal.

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To Calculate: Total each column of the sales journal.

To Show: How posting would be made by writing the accounts numbers and check marks in the journals.

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Chapter C Solutions