Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. answer the following requirements: create an accou

Answer the following requirements: Create an accounting journal template in an Excel sheet. (Draw...

50.1K

Verified Solution

Question

Accounting

Answer the following requirements:
Create an accounting journal template in an Excel sheet.
(Draw the table - a mark), and (Using Excel Functions - a mark)
Sun Co created some financial transactions in accounts payable and receivable in the year 2024.
On 17/8/2024, Sun Co purchased 8000 items valued at $10 each from SABIC (invoice number 478). The agreement mentioned that Sun Co must pay %50 of the purchase order as soon as the goods are received. On the same day, Sun Co received the goods.
On 1/10/2024, Sun Co sold 2,000 items valued at $15 each in selling invoice number 886 to Ahmed Company. Ahmed's company paid $20,000 upfront.
Requirements:
Create accounts payable and receivable template in Excel sheet.
(Draw the table - a mark), and (Using Excel Functions - a mark)
Record the necessary financial transactions for accounts payable and receivable and find the total due balance of accounts payable and receivable. (a mark)
image

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

Advance Math
1.2K views

MAT 204 Discrete Structures – Assignment #10 Number theory is the branch of mathematics concerned with...

Mechanical Engineering
1.2K views

A solid cylinder of 6 inch diameter and 4 inch high is compressed axisymmetrically to 2...

Mechanical Engineering
1.2K views

Describe your plan or countermeasures, regarding to developing a Cost Estimating Relationship, as an engineer in...

Biology
1.2K views

Blank 1 These cells are from a slide of

Physics
1.2K views

at 49 Water flows through a frictionless duct with a cross section varying as shown...

Physics
1.2K views

John is pulling a box forward with a force of 100N and the force forms...

Physics
1.2K views

4 the magnetic field at all points inside the pipe is the same but not...

Basic Math
1.2K views

What is the slope of the line that passes through (-2, 7) and (4, 9)?slope...

Algebra
1.2K views

Sanji throws an 8-sided solid with faces numbered 1 through 8.Which of the following statements...

Accounting
1.2K views

1. Which of the following is correct about a companys contribution margin ratio? a) The...

Accounting
1.2K views

How the banana industry control its supply chain from riping to consumer consumption

Finance
1.2K views

home / study / business / business statistics / business statistics solutions manuals / basics...