e transactions. (Journal Entries) December 1 Issued check for $200 for December rent Took out a short term loan from the bank in the amount of $1,600. Note is due in 60 days at 6% interest. 3 Issue credit memo for $20 to Ritter for merchandise returned 4 Received check for $392 (after discount) from Dunn in payment on account Issued check for $891 (net of discount) to Service Toy 7 Received check for $343 (after discount) from Ritter in payment on account 8 Harris issues credit memo to us for $18 (inventory) Sold equipment for $60. Orginal cost was $500. Accumulated depreciation at the time of sale was $450 9 Purchase merchandise on account from Larkin $1,000 11 Sold merchandise on account to Thayer $200 Issue check to purchase new equipment for $400 12 Purchase merchandise on account from Clark $ 1,300 14 Issue check for $24 for phone bill Sold merchandise on account to Gage $350 15 Cash sales from December 1 to 15 were $ 2,030 Issue check $116 for monthly payment on installment note 17 Issue check for $27 for electric bill Received check from Thayer $505, payment on account 19 Issued check for $980 (net of discount) to Larkin 21 Received check for $196 (after discount) from Thayer in payment on account Issued check for $1,274 (net of discount) to Clark for payment on account 22 Sold merchandise on account to Gage $464 Issued check for $326 to Harris on account Sold merchandise on account to Dunn $290 24 Received check for $343 (after discount) from Gage in payment on account Issue check for $210 to purchase supplies 26 Purchase merchandise on account from Larkin $536 Sold merchandise on account to Ritter $640 28 Purchase merchandise on account from Clark $718 Issue Check for $321 to Clark for payment on account 30 Larkin gives us credit memo for $33 Write off $75 of Baker accounts receivable. Received check for $200 from Baker in payment on account 31 Issue Check for payroll $850 Issue check for dividend $200 Cash sales from December 15 to 31 were $ 1,260

e transactions. (Journal Entries) December 1 Issued check for $200 for December rent Took out a short term loan from the bank in the amount of $1,600. Note is due in 60 days at 6% interest. 3 Issue credit memo for $20 to Ritter for merchandise returned 4 Received check for $392 (after discount) from Dunn in payment on account Issued check for $891 (net of discount) to Service Toy 7 Received check for $343 (after discount) from Ritter in payment on account 8 Harris issues credit memo to us for $18 (inventory) Sold equipment for $60. Orginal cost was $500. Accumulated depreciation at the time of sale was $450 9 Purchase merchandise on account from Larkin $1,000 11 Sold merchandise on account to Thayer $200 Issue check to purchase new equipment for $400 12 Purchase merchandise on account from Clark $ 1,300 14 Issue check for $24 for phone bill Sold merchandise on account to Gage $350 15 Cash sales from December 1 to 15 were $ 2,030 Issue check $116 for monthly payment on installment note 17 Issue check for $27 for electric bill Received check from Thayer $505, payment on account 19 Issued check for $980 (net of discount) to Larkin 21 Received check for $196 (after discount) from Thayer in payment on account Issued check for $1,274 (net of discount) to Clark for payment on account 22 Sold merchandise on account to Gage $464 Issued check for $326 to Harris on account Sold merchandise on account to Dunn $290 24 Received check for $343 (after discount) from Gage in payment on account Issue check for $210 to purchase supplies 26 Purchase merchandise on account from Larkin $536 Sold merchandise on account to Ritter $640 28 Purchase merchandise on account from Clark $718 Issue Check for $321 to Clark for payment on account 30 Larkin gives us credit memo for $33 Write off $75 of Baker accounts receivable. Received check for $200 from Baker in payment on account 31 Issue Check for payroll $850 Issue check for dividend $200 Cash sales from December 15 to 31 were $ 1,260

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter12: Special Journals

Section: Chapter Questions

Problem 4CE: Enter the following transactions in a cash payments journal like the one illustrated in the chapter:...

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Record the transactions. (Journal Entries)

December
1	Issued check for $200 for December rent
	Took out a short term loan from the bank in the amount of $1,600. Note is due in 60 days at 6% interest.
3	Issue credit memo for $20 to Ritter for merchandise returned
4	Received check for $392 (after discount) from Dunn in payment on account
	Issued check for $891 (net of discount) to Service Toy
7	Received check for $343 (after discount) from Ritter in payment on account
8	Harris issues credit memo to us for $18 (inventory)
	Sold equipment for $60. Orginal cost was $500. Accumulated depreciation at the time of sale was $450
9	Purchase merchandise on account from Larkin $1,000
11	Sold merchandise on account to Thayer $200
	Issue check to purchase new equipment for $400
12	Purchase merchandise on account from Clark $ 1,300
14	Issue check for $24 for phone bill
	Sold merchandise on account to Gage $350
15	Cash sales from December 1 to 15 were $ 2,030
	Issue check $116 for monthly payment on installment note
17	Issue check for $27 for electric bill
	Received check from Thayer $505, payment on account
19	Issued check for $980 (net of discount) to Larkin
21	Received check for $196 (after discount) from Thayer in payment on account
	Issued check for $1,274 (net of discount) to Clark for payment on account
22	Sold merchandise on account to Gage $464
	Issued check for $326 to Harris on account
	Sold merchandise on account to Dunn $290
24	Received check for $343 (after discount) from Gage in payment on account
	Issue check for $210 to purchase supplies
26	Purchase merchandise on account from Larkin $536
	Sold merchandise on account to Ritter $640
28	Purchase merchandise on account from Clark $718
	Issue Check for $321 to Clark for payment on account
30	Larkin gives us credit memo for $33
	Write off $75 of Baker accounts receivable.
	Received check for $200 from Baker in payment on account
31	Issue Check for payroll $850
	Issue check for dividend $200
	Cash sales from December 15 to 31 were $ 1,260

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