acy1111-ch5

acy1111-ch5 - © 2009 For Instructor Use Only 5-26 PROBLEM...

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Unformatted text preview: © 2009 For Instructor Use Only 5-26 PROBLEM 5-2A (a) General Journal J1 Date Account Titles and Explanation Ref. Debit Credit Apr. 5 Merchandise Inventory ...................... Accounts Payable....................... 120 201 1,500 1,500 7 Merchandise Inventory ...................... Cash............................................. 120 101 80 80 9 Accounts Payable............................... Merchandise Inventory............... 201 120 100 100 10 Accounts Receivable ......................... Sales ............................................ Cost of Goods Sold............................ Merchandise Inventory............... 112 401 505 120 1,100 810 1,100 810 12 Merchandise Inventory ...................... Accounts Payable....................... 120 201 860 860 14 Accounts Payable ($1,500 – $100) .... Merchandise Inventory............... ($1,400 X 2%) Cash............................................. 201 120 101 1,400 28 1,372 17 Accounts Payable............................... Merchandise Inventory............... 201 120 60 60 20 Accounts Receivable ......................... Sales ............................................ Cost of Goods Sold............................ Merchandise Inventory............... 112 401 505 120 700 490 700 490 21 Accounts Payable ($860 – $60) ......... Merchandise Inventory............... ($800 X 1%) Cash............................................. 201 120 101 800 8 792 © 2009 For Instructor Use Only 5-27 PROBLEM 5-2A (Continued) General Journal J1 Date Account Titles and Explanation Ref. Debit Credit Apr. 27 Sales Returns and Allowances...... Accounts Receivable.............. 412 112 40 40 30 Cash....................................................
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This note was uploaded on 02/04/2012 for the course ACCT 2111 taught by Professor Eric during the Spring '11 term at CUHK.

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acy1111-ch5 - © 2009 For Instructor Use Only 5-26 PROBLEM...

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