Question

need help with accounting Exercise 7-4?

Moeder Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of November.
Nov. 3 Purchased $3,100 of merchandise on credit from Hargrave Co., terms n20.
Nov 7 Sold merchandise costing $840 on credit to J. York for $900, subject to a $18 sales discount if paid by the end of the month.
Nov 9 Borrowed $2,750 cash by signing a note payable to the bank.
Nov 13 J. Emling, the owner, contributed $4,000 cash to the company.
Nov 18 Sold merchandise costing $130 to B. Box for $230 cash.
Nov 22 Paid Hargrave Co. $3,100 cash for the merchandise purchased on November 3.
Nov 27 Received $882 cash from J. York in payment of the November 7 purchase.
Nov 30 Paid salaries of $1,600 in cash.

I need to Prepare headings for a cash receipts journal like the one in Exhibit 7.7. Journalize the November transactions that should be recorded in the cash receipts journal.

4 years ago - 1 answers

Best Answer

Chosen by Asker

I hope you'll find this useful:
www.newlearner.com/courses/hts/baf3...

4 years ago