370,000 increase 200,000 decrease 150,000 decrease 200,000 increase 300,000 increase 80,000 20,000 80,000 Accounts receivable - trade Notes receivable - trade Accounts payable - trade Notes payable – trade Notes payable – bank Sales returns (P50,000 was refunded) Sales discounts Purchase returns (P30,000 was refunded) Purchase discounts 35,000 60,000 18,000 300,000 250,000 Accounts written off Recovery of accounts previously written off Cash sales Cash purchases Cash received from account customers 1,500,000 1,200,000 Cash payment to trade creditors
370,000 increase 200,000 decrease 150,000 decrease 200,000 increase 300,000 increase 80,000 20,000 80,000 Accounts receivable - trade Notes receivable - trade Accounts payable - trade Notes payable – trade Notes payable – bank Sales returns (P50,000 was refunded) Sales discounts Purchase returns (P30,000 was refunded) Purchase discounts 35,000 60,000 18,000 300,000 250,000 Accounts written off Recovery of accounts previously written off Cash sales Cash purchases Cash received from account customers 1,500,000 1,200,000 Cash payment to trade creditors
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 18MC: You returned damaged goods to C.C. Rogers Inc. and received a credit memo for $250. Which journal(s)...
Related questions
Question
What is the amount of the gross sales?
A. 1,780,000
B. 2,062,000
C. 2,080,000
D. 2,130,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning