Give entries in general journal form to record transactions

Assignment Help Financial Accounting

Reference no: EM131264553

John Peters buys merchandise from Newell's on September 16 for $1,800, terms 2/IO,n/30. Newell's later grants an allowance of$200 on September 20. Peters pays the account in full on September 25.

(a) Give entries in general journal form to record the three transactions on Peters books.

(b) Indicate the special journal in which each entry should be recorded.

Date Description folio Debits Credits

Reference no: EM131264553

Questions Cloud

How can value chain analysis help an organization implement : Take a look at the three parts of service delivery in the value chain; pre-service, point-of -service and after service. How can value chain analysis help an organization implement its strategic plan?

Determine the minimum allowable thickness t : The figure shows the cross sections of two columns made of A36 steel. Determine the minimum allowable thickness t for which each cross section will be nonslender.

What are the ports strategic goals : What are the port's strategic goals?- What are the strengths of the port?- What are the weaknesses of the port?- What metrics does the port utilize?

Why is value creation an important concept to health care : Why is value creation an important concept to health care organizations? Is value creation more or less important in health care than in other industries?

Give entries in general journal form to record transactions : John Peters buys merchandise from Newell's on September 16 for $1,800, terms 2/IO,n/30. Newell's later grants an allowance of$200 on September 20. Peters pays the account in full on September 25. Give entries in general journal form to record the thr..

Find temperature increase that would cause the bar to buckle : The solid aluminum bar of circular cross section is fitted snugly between two immovable walls. Determine the temperature increase that would cause the bar to buckle. Use E = 10:3 × 106 psi and α = 12:8 × 106/°F for aluminum.

Analyze and identify at least four barriers that may exist : Analyze and identify at least four barriers that may exist in Doris being involved in more community activities. Provide solutions to each of these barriers.

What are the relevant cash flows : What are the relevant cash flows associated with each alternative, and in what years do they occur - The inventory of parts for the diesel boat can be depreciated for tax purposes over a 25-year period.

Uses plantwide overhead rate based on direct labor-hours : Hickory Company manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. Using the ABC system, how much total manufacturing overhead cost would be assign..

User Account

All Pages