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Record the April transactions in cash receipts

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Problem - Shannon Distributors, which sells on terms of 2/10, n/30, had the following transactions during October, the first month of the current fiscal year.

Oct. 1 Paid October rent, $500. Check No. 200.

Oct. 2 Paid Sprague, Inc., $686 for merchandise purchased September 28. A 2% discount was taken. Check No. 201.

Required -

(a) Record the April transactions in cash receipts and cash disbursements journals.

(b) Total and balance the cash receipts and cash disbursements journals.

Reference no: EM132804852

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