how do we record in the cash payment journal for the payment in cash and with the GST included and received discount

Q: How would I figure out the adjusted trial balance sheet?  cash accounts receivable  equipment  etc

A: Explanation: The Ending Balances of all T-Accounts Transfer to Adjusted Trial Balance.

Q: Design a report to assist in managing credit sales and cash collections.

A: Managing credit sales The term "credit sales" refers to the transfer of ownership of goods and…

Q: Define the Note Issued for Cash.

A: Promissory Note:   A promissory note is a legal and financial tool that contains a written promise…

Q: What specific information would you need to begin a cash receipts forecast?

A: Cash receipt forecast is a forecast of cash receipts i.e. cash being received by the company.   A…

Q: Which ones have a credit balance? Bills in arrears Promissory notes receivable in advance

A: The different accounts in the business have normal Debit and credit balance. The assets and expenses…

Q: Which of the following account will be least likely involved in the purchasing sub-process of the…

A: Purchasing and Disbursement Cycle is the whole process which starts with purchase of inventory and…

Q: When interest is accrued on a Note Receivable, the journal entry to record the accrued interest…

A: A promissory note, also known as a note receivable, is a spoken commitment from the borrower to pay…

Q: where would borrowed cash go on transaction worksheet

A: The borrowed cash is the amount of cash received by the entity through many ways - like from banks,…

Q: Distinguish between cash discounts and trade discounts for purchases. Is the amount of a trade…

A: Discounts are given to attract customers and increase sales revenue. Discounts can be given as cash…

Q: For each receipt in the cash book, postings should be made to the   . A. Credit side of the…

A: In accounting, a cash book is a type of ledger that records all cash receipts and payments,…

Q: Describe and use the cash payments journal. What steps are followed in posting from cash payments…

A:

Q: How to calculate balance c/d when preparing an adjusted cash book?

A: Cashbook adjustments are used to correct input errors or adjust miscellaneous debits or credits in…

Q: "recorded cash sales" what accounts are used

A: When we sell anything to the customer in cash then cash account debits and revenue of an entity will…

Q: The journal entry to record lending money on a note receivable is… what?

A: Journal book is the book where all the transactions of the company will be recorded in a…

Q: In sap, Which of the following outgoing payments will not require manual entry of bank account? a.…

A: A financial transaction is an agreement or communication between a buyer and a seller to exchange…

Q: ash rece

A: cash receipts journal ought to have a history of your money transactions. exploitation your sales…

Q: What are two methods of recording accounts receivable transactions when a cash discount situation is…

A: The two methods of recording accounts receivables transactions considering a cash discount are:Gross…

Q: hello may i ask how much is the net adjustment to the cash account? including debit or credit thank…

A: Assets have debit balance and Liabilities have credit balance. Cash account is current asset with a…

Q: Q-2: What is Gross Invoice Method and Net Invoice method? Record the transactional entries for the…

A: Net sales are the total goods sold by the firm during the year to generate profit. It includes sale…

Q: Define cash receipts journal.

A: Journal: Journal is the book of original entry. Journal consists of the day-to-day financial…

Q: Summarize the procedures to follow when accepting credit cards, bill-to-accounts, cash, checks, and…

A: There are different methods through which the customers make the payment to the company like for the…

Q: Write a note on cash discounts.

A:

Q: What steps are taken to prepare Income and Expenditure Account from a Receipt and Payment Account?

A: Introduction: Non-trading entities prepare the income and expenditure account to determine the…

Q: what is procedure to posting account payab

A: Answer : The cash disbursement Journal is an  Accounting Form used to record all the cash outflow.…

Q: The entry to establish the Change Fund includes which of the following?

A: The entry to establish the Change Fund includes a debit to change fund and credit to cash.

Q: dure described pre

A:

Q: How did you get the discount on Note payable in JE number 2?

A: Truck #2Truck$14,727  Discount on Notes Payable$1,273        Cash $2,000       Notes Payable $14,000…

Q: Determine the process to create an bank account?

A: The bank is the financial institution which accepts deposits from the customer and provides credit.…

Q: What is included in the journal entry necessary to record the collection of the cash for a…

A: The journal entries are the first step of accounting that are prepared to record the transactions in…

Q: 1.Recording the borrowing of money for which a note is signed involves. Pass the journal entry?

A: Any transaction, whether it occurs offline or online, must be completely and accurately documented…

Q: what are the entries for the cash receipt journal and general journal.

A: Cash receipt journal is the journal which has been used by the company which are used to record as…

Q: what is procedure to posting account payable ledger in cash disbursements system

A: Accounts payable forms a part of current liabilities and represents the amount that the entity owes…

Q: What is the process for publishing the account payable ledger in the cash disbursements system?

A: Accounts payable are the liabilities which include the creditors and the bills payable which are to…

Q: Describe and use the cash receips journal. What steps are followed in posting from the cash receipts…

A: Cash Receipts Journal:   It is a special book where only cash receipts transactions that are…

Q: Which of the following is an electronic funds transfer system (EFTS) service?   Group of answer…

A: EFTS refers to a transfer system wherein money transfers from one bank account to other without…