Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 3. journalize the following transactions and post

3. Journalize the following transactions and post the first three transactions: a. Paid $250 of...

90.2K

Verified Solution

Question

Accounting

3. Journalize the following transactions and post the first three transactions:

a. Paid $250 of accrued interest on a note payable.

b. Purchased inventory on account for $17,500 using the perpetual system.

c. Sales on account $13,500 and for cash $8,000.

d. Paid salaries payable of $2,400.

e. Cash collections from customers $11.600.

f. Purchased inventory for cash using perpetual for $13,000.

g. Made a payment on account payable of $17,640.

h. Paid sales salaries totaling $3,600.

i. Received cash interest on investment $150

k. Sold inventory for $5,000 that cost $4,000 using perpetual system

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

Dylan has 7 soccer trophies. He can only fit 4 trophies in a row on...

Mechanical Engineering
1.2K views

A 3/4-6 ACME threaded screw is used to lift a 2 kN load. Note that this...

Psychology
1.2K views

What is working memory capacity. Explain also how can you use the working memory principles explained...

Biology
1.2K views

A plant that you are studying has sluggish wound healing abilities as well as an...

Physics
1.2K views

Sir ere ame from 8 and 1 When two thin lenses are in contact their...

Physics
1.2K views

The distance of point of a compound pendulum from its centre of gravity is the...

Geometry
1.2K views

Rates and 3 SAT Question Ratios Proportions Tim s diet plan calls for 60 grams...

Basic Math
1.2K views

Question A pool party is occurring at the Robertson s house this next holiday They...

Statistics
1.2K views

A food safety guideline is that the mercury in fish should be below 1 part...

Accounting
1.2K views

This year, Lauren sold several shares of stock held for investment. As a result of...

Accounting
1.2K views

Sultan Company uses an activity-based costing system. At the beginning of the year, the company...

Accounting
1.2K views

Apex Company prepared the statement of cash flows for the current year that is shown...