User Account

All Pages

Record the transactions in a sales journal

Assignment Help Accounting Basics
Reference no: EM133185863

Question - The following are the sales transactions of MARICOR Company for the month of September 2020. Merchandise purchased on account has a 3/10, n/30 credit terms.

Sept. 1 - Sold merchandise on account from Herbert Supply Co. P90,000.

Sept. 5 - Received check payment of account from Herbert Supply Co.

Sept. 9 - Sold merchandise on account from Maricar Co. P50,000.

Sept. 12 - Paid freight charges on the merchandise sold to Maricar Co. P2,500.

Sept. 13 - Returned P6,000 of merchandise sold to Maricar Co.

Sept. 14 - Received payment from Maricar Co.

Sept. 15 - Sold merchandise for cash P26,000. Received a check.

Sept. 17 - Sold merchandise on account to LALA Company P50,000.

Sept. 19 - LALA Company returned P10,000 worth of merchandise.

Sept. 21 - Received check from various customers P145,000.

Sept. 26 - Received cash from LALA company.

Sept. 29 - Cash Sales for the month from various customers P9,000.

Required -

1. Record the transactions in a Sales Journal, Cash Receipts journals and General Journal.

2. Total the sales and cash receipt.

Reference no: EM133185863

Questions Cloud

Why did the americans want to break up the deutsche bank : Founded in 1870 to help finance surging German exports and imports, the Deutsche Bank soon moved into domestic banking. In fact, its founders aimed to create bo
2025 ontario parasport winter games : Purpose: To apply course material to design a successful bid for the 2025 Ontario Parasport Winter Games.
Discuss the basic business activities : Discuss the basic business activities and related information processing operations in the expenditure cycle, explain the general threats to those activities
Describe the financial crisis : Describe the financial crisis of 2007- 2009. What were the primary causes of this financial crisis?
Record the transactions in a sales journal : Record the transactions in a Sales Journal, Cash Receipts journals and General Journal - Sept. 15 - Sold merchandise for cash P26,000. Received a check
CRJ 400 Crime Prevention Strategies Assignment : CRJ 400 Crime Prevention Strategies Assignment Help and Solution, Strayer University - Homework Help - Landmark Police Experiments - Kansas City Preventive
Do you think price discrimination through coupons is fair : One method of price discrimination for firms is the use of coupons and rebates.Do you think price discrimination through coupons is fair?
Marketing manager for serenity insurance : You are still marketing manager for Serenity Insurance. Write letter to Tracey Jones, managing Director of Ads4U, the advertising agency that has handled Sereni
Characterizing the breadth and diversity of business : Identifying and characterizing the breadth and diversity of business stakeholder relationships is a prerequisite to a holistic, practically functional, and valu

Reviews

Write a Review

Accounting Basics Questions & Answers

  Table 12 the budget as a of gdp using the data in the

table 1.2 the budget as a of gdp. using the data in the third column. surplus of deficit determine how many years

  A of ahmedabad consigned goods to b of mumbai for sale at

a of ahmedabad consigned goods to b of mumbai for sale at performa invoice price or over. b is entitled to have

  How many orders will be placed each year

Cheesburger and Taco Company purchases 8,462 boxes of cheese each year. It costs $16 to place and ship each order and $9.73 per year for each box held.

  Describe the different fraud symptoms present at MHZ Inc

List and briefly describe the six different types of fraud symptoms. Describe the different fraud symptoms present at MHZ, Inc

  Articulate the positions on moving from us gaap to ifrs

Articulate positions on moving from US GAAP to IFRS. Build an argument in an influential way to include but not limited to a discussion on similarities between GAAP and IFRS specifically around potential effects on  stockholder's equity section o..

  Determine the yield to maturity

The 15-year $1,000 par bonds of Vail Inc. pay 8 percent interest. The current market price for the bond is $1,080. Determine the yield to maturity

  Summit corp is considering the purchase of a new piece of

summit corp is considering the purchase of a new piece of equipment. the cost savings from the equipment would result

  Discuss how much do they have increase their sales revenue

If they want to increase the after tax income for 2014 by $18, by how much do they have to increase their sales revenue

  Analyze the risk of financial fraud at kodak

Analyze the risk of financial fraud at Kodak and how it is most likely to be committed. Based on your analysis of the financial fraud risk areas, discuss the internal controls that should be implemented.

  Which part of the aicpa''s code of profession is enforceable

The auditor's responsibility section of the standard unqualified audit report states that the audit is designed to:

  Determine the Johnsons AGI

Jeremy and Alyssa Johnson have been married for five years and do not have any children. Determine the Johnson's AGI

  Determine the book value per share of common stock

The preferred stock was noncumulative and had a call price of $104. Use this information to determine the book value per share of Common Stock

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd