Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Explore thousands of questions and answers from knowledgeable experts in various fields on our Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
Sagot :
Solution :
Transaction The General Journal Debit Cash
1 a Cash 3,000,000
Notes payable 3,000,000
2 b Equipment 90,000
Cash 90,000
3 c Inventory 37,000
Accounts payable 37,000
4 d Repair expense 59,000
Cash 59,000
5 e Cash 368,000
Unearned pass revenue 368,000
6 f(1) Accounts receivable 570
Ski shop sales revenue 570
7 f(2) Cost of goods sold 310
Inventory 310
8 g Cash 273,000
Lift pass revenue 273,000
9 h cash 2,200
Unearned rent revenue 2,200
10 i Accounts Payable 18500
Cash (37,000/2) 18500
11 j Cash 470
Accounts receivable 470
12 k Salaries expense 263,000
Cash 263,000
The accounts receivable balance = 1000 + 570 - 310
= 1260
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.