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June   1   Received a $6,000, 12%, 1-year note from Sue Forest as full payment on her account.            Account Blank 1   Dr. Blank 2   Account Blank 3   Cr. Blank 4 Nov.   1   Sold merchandise on account to Reeves, Inc., for $7,000, terms 2/10, n/30. AccountBlank 5   Dr. Blank 6    Account Blank 7   Cr. Blank 8 Nov.   5   Reeves, Inc., returned merchandise worth $1,000. AccountBlank 9   Dr. Blank 10     Account Blank 11   Cr. Blank 12 Nov.   9   Received payment in full from Reeves, Inc. AccountBlank 13   Dr. Blank 14 AccountBlank 15   Dr. Blank 16    Account Blank 17   Cr. Blank 18 Dec. 31   Accrued interest on Forest's note. AccountBlank 19   Dr. Blank 20    Account Blank 21   Cr. Blank 22

June   1   Received a $6,000, 12%, 1-year note from Sue Forest as full payment on her account.            Account Blank 1   Dr. Blank 2   Account Blank 3   Cr. Blank 4 Nov.   1   Sold merchandise on account to Reeves, Inc., for $7,000, terms 2/10, n/30. AccountBlank 5   Dr. Blank 6    Account Blank 7   Cr. Blank 8 Nov.   5   Reeves, Inc., returned merchandise worth $1,000. AccountBlank 9   Dr. Blank 10     Account Blank 11   Cr. Blank 12 Nov.   9   Received payment in full from Reeves, Inc. AccountBlank 13   Dr. Blank 14 AccountBlank 15   Dr. Blank 16    Account Blank 17   Cr. Blank 18 Dec. 31   Accrued interest on Forest's note. AccountBlank 19   Dr. Blank 20    Account Blank 21   Cr. Blank 22

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...
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June   1   Received a $6,000, 12%, 1-year note from Sue Forest as full payment on her account. 

          Account Blank 1   Dr. Blank 2

  Account Blank 3   Cr. Blank 4

Nov.   1   Sold merchandise on account to Reeves, Inc., for $7,000, terms 2/10, n/30.

AccountBlank 5   Dr. Blank 6

   Account Blank 7   Cr. Blank 8

Nov.   5   Reeves, Inc., returned merchandise worth $1,000.

AccountBlank 9   Dr. Blank 10

    Account Blank 11   Cr. Blank 12

Nov.   9   Received payment in full from Reeves, Inc.

AccountBlank 13   Dr. Blank 14

AccountBlank 15   Dr. Blank 16

   Account Blank 17   Cr. Blank 18

Dec. 31   Accrued interest on Forest's note.

AccountBlank 19   Dr. Blank 20

   Account Blank 21   Cr. Blank 22

 

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