On January 1, 2022, Skysong, Inc. had Accounts Receivable of $52,500 and Allowance for Doubtful Accounts of $3,800. Skysong, Inc. prepares financial statements annually. During the year, the following selected transactions occurred.
On January 1, 2022, Skysong, Inc. had Accounts Receivable of $52,500 and Allowance for Doubtful Accounts of $3,800. Skysong, Inc. prepares financial statements annually. During the year, the following selected transactions occurred.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 3CP: At the end of 20-3, Martel Co. had 410,000 in Accounts Receivable and a credit balance of 300 in...
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On January 1, 2022, Skysong, Inc. had
Jan. 5 | Sold $4,200 of merchandise to Rian Company, terms n/30. | |
Feb. 2 | Accepted a $4,200, 4-month, 9% promissory note from Rian Company for balance due. | |
12 | Sold $10,800 of merchandise to Cato Company and accepted Cato’s $10,800, 2-month, 10% note. | |
26 | Sold $5,500 of merchandise to Malcolm Co., terms n/10. | |
Apr. 5 | Accepted a $5,500, 3-month, 8% note from Malcolm Co. | |
12 | Collected Cato Company note in full. | |
June 2 | Collected Rian Company note in full. | |
15 | Sold $2,200 of merchandise to Gerri Inc. and accepted a $2,200, 6-month, 12% note. |
Journalize the transactions. (Omit cost of goods sold entries.) (Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
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Account Titles and Explanation
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Debit
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Credit
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choose a transaction date
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Enter an account title
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Enter a debit amount
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Enter a credit amount
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Enter an account title
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Enter a debit amount
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Enter a credit amount
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choose a transaction date
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Enter an account title
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Enter a debit amount
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Enter a credit amount
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Enter an account title
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Enter a debit amount
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Enter a credit amount
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choose a transaction date
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Enter an account title
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Enter a debit amount
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Enter a credit amount
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Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
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choose a transaction date
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Enter an account title
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Enter a debit amount
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Enter a credit amount
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Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
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choose a transaction date
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
|
choose a transaction date
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
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choose a transaction date
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
|
choose a transaction date
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
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