COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
4th Edition
ISBN: 9781260255157
Author: Haddock
Publisher: MCG CUSTOM
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Chapter 4, Problem 2E
To determine

Prepare necessary journal entries to record the given transactions.

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Journalize the transactions of Roland Foster optical Dispensary. Include an explanation with each journal entry. (Record first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 15 "Accounts & Explanation" Line 1. Accounts payable -or- Accounts receivable -or- Cash -or- Office expenses -or- Office supplies Line 2. Accounts payable -or- Accounts receivable -or- Cash -or- Office expenses -or- Office supplies Line 3. Accounts payable -or- Accounts receivable -or- Cash -or- Office expenses -or- Office supplies Line 4. Accounts payable -or- Accounts receivable -or- Cash -or- Office expenses -or- Office supplies Line 5. Paid cash on account -or- Performed service for customers on account -or- Purchased office supplies on account -or- Received cash on account from customers
Instructions: Use the following account titles: Cash, Accounts Receivable, Notes Receivable, Medical Supplies, Office Equipment, Furniture and Fixtures, Accounts Payable, Notes Payable, Salaries Payable, Mateo, Capital, Mateo Drawing, Service Revenue, Rent Expense, Salaries Expense, Taxes and Licenses Expense, Supplies Expense, Advertising Expense, and Utilities Expense a. Journalize the transactions below. b. Posting the transactions to their corresponding t-accounts. c. Prepare the unadjusted trial balance Arianne Mateo established a business called ASM Medical Clinic on September 1, 2018. The following are the transactions occurred during the month of September 2018. 1 Ms. Mateoo deposited cash amounting to P350,000 under the name of the company. 1 Tables and chairs were purchased from JohnD Furniture at a total cost of P300,000, 40% on cash and balance by issuing a promissory payable after thirty (30) days. Registered the business name with DTI and paid P5,000. 9 Hired 2 clinic…
The debits and credits from two transactions are presented in the following customer account: NAME Mobility Products Inc. ADDRESS 46 W. Main St. Date Item Post. Ref. Debit Credit Balance Aug. 1 Balance ✔     540 Aug. 10 Invoice No. 59 CR24   103 437 Aug. 17 Invoice No. 64 R35 129   566 Select the choice that describes each transaction and the source of each posting. Date   Action Invoice No. Posted From Journal page Aug. 10     fill in the blank 2   fill in the blank 4 Aug. 17     fill in the blank 6   fill in the blank 8
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