Comprehensive Problem

Comprehensive Problem - 289 Comprehensive Problem 68 1....

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Unformatted text preview: 289 Comprehensive Problem 68 1. Journal entries: Jan. 1 Rent Expense ............................................................. 1,400 Cash ....................................................................... 1,400 Paid monthly rent on computer equipment. 5 Accounts Receivable ................................................. 27,300 Sales ...................................................................... 27,300 Recorded sales for the week. 5 Wages Payable ........................................................... 2,800 Taxes Payable ............................................................ 3,400 Cash ....................................................................... 6,200 Paid wages and taxes from December. 5 Cash ............................................................................ 19,000 Accounts Receivable ........................................... 19,000 Collections from customers. 8 Office Supplies ........................................................... 300 Cash ....................................................................... 300 Purchased office supplies. 10 Purchases ................................................................... 10,150 Accounts Payable ................................................. 10,150 Purchased inventory on account. 11 Accounts Payable ...................................................... 16,900 Cash ....................................................................... 16,900 Paid accounts payable. 12 Cash ............................................................................ 22,000 Accounts Receivable ........................................... 22,000 Collections from customers. 12 Accounts Receivable ................................................. 25,200 Sales ...................................................................... 25,200 Recorded sales for the week. 15 Rent Expense ............................................................. 2,200 Cash ....................................................................... 2,200 Paid monthly rent on office and warehouse. 15 Purchases ................................................................... 19,500 Accounts Payable ................................................. 19,500 Purchased inventory on account. 18 Sales Returns ............................................................. 210 Cash ....................................................................... 210 Product returned and customer sent a refund. 290 Comprehensive Problem 6-8 Comp. Prob. 68 (Continued) Jan. 19 Cash ............................................................................ 30,000 Accounts Receivable ........................................... 30,000 Collections from customers....
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Comprehensive Problem - 289 Comprehensive Problem 68 1....

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