PROBLEM 6

PROBLEM 6 - PROBLEM 6-1B (a) General Journal J1 Date...

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PROBLEM 6-1B (a) General Journal J1 Date Account Titles and Explanation Ref. Debit Credit Apr. 5 Purchases Accounts Payable 510 201 1,900 1,900 7 Freight-in Cash 516 101 80 80 9 Accounts Payable Purchase Returns and Allowances 201 512 100 100 10 Accounts Receivable Sales 112 401 900 900 12 Purchases Accounts Payable 510 201 860 860 14 Accounts Payable ($1,900 – $100) Purchase Discounts ($1,800 X 2%) Cash 201 514 101 1,800 36 1,764 17 Accounts Payable Purchase Returns and Allowances 201 512 60 60 20 Accounts Receivable Sales 112 401 700 700 21 Accounts Payable ($860 – $60) Purchase Discounts ($800 X 1%) Cash 201 514 101 800 8 792 27 Sales Returns and Allowances Accounts Receivable 412 112 30 30
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30 Cash Sales 101 401 600 600
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PROBLEM 6-1B (Continued) Date Account Titles and Explanation Ref. Debit Credit Apr. 30 Cash Accounts Receivable 101 112 1,100 1,100 (b) Cash No. 101 Date Explanation Ref. Debit Credit Balance Apr. 1 7 14 21 30 30 Balance J1 J1 J1 J1 J1 600 1,100 80 1,764 792 3,000 2,920 1,156 364 964 2,064 Accounts Receivable No. 112 Date Explanation Ref. Debit Credit Balance Apr. 10 20 27 30 J1 J1 J1 J1 900 700 30 1,100 900 1,600 1,570 470 Merchandise Inventory No. 120 Date Explanation Ref. Debit Credit Balance Apr. 1 Balance 3,500 Accounts Payable No. 201 Date Explanation Ref. Debit Credit Balance Apr. 5 9 J1 J1 100 1,900 1,900 1,800
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12 14 17 21 J1 J1 J1 J1 1,800 60 800 860 2,660 860 800 0
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PROBLEM 6-1B (Continued) Common Stock No. 311 Date Explanation Ref. Debit Credit Balance Apr. 1 Balance 6,500 Sales No. 401 Date Explanation Ref. Debit Credit Balance Apr. 10 20 30 J1 J1 J1 900 700 600 900 1,600
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This note was uploaded on 05/21/2011 for the course ACY 1111 taught by Professor Km during the Spring '10 term at CUHK.

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PROBLEM 6 - PROBLEM 6-1B (a) General Journal J1 Date...

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