50.1K

Verified Solution

Link Copied!

336 Chapter 7 Accounting Information Systems PROBLEMS: SET B Jour 7.10 Kentucky Company's charcounts includes the following selected account 101 Cash 01 Sales 112 Accounts Receivable 414 Sales Discount 120 Merchandise Inventory 506 Cost of Goods Sold DES 1 Kentucky Capital On June the accounts receivable ledger of Kentucky Company showed the following balance Moose & Son 3.0. Chris Co $2.0. Cornell B 5,000, and Man Ca $2.000. The June trans actions involving the receipt of cash were as follows June ! The owner, Ken Ticky, invested additional cash in the business $12.000 Received check in full from Mars Cales 2 cash discount Received check in fall from Chris Coleh discount Made cash sales of merchandise totaling 58.700. The cost of the merchandises $5,000 Received check in fulltrum Moose & Son les 2 cash discount 11 Received a refund from a supplier for damaged merchandise SAS 15 Madech sales of merchandise ting. The cost of the merchandise 54.000 20 Received check in full from Comel Bros $200 Instructions a) Joernal the tractions above income the recipes journal with columns for Cash Dr Sales Disco De Accounts Receivable Sales Other Accounts Cont of Goods Sold Merchandise Inventory Cr.foot and crowfoot the journal Insert the beginning once in the Accounts Receivable control and subsidiary con and pot the one transaction to the Prove the rest of the control account and subsidiary account balance

Answer & Explanation Solved by verified expert

See Answer