Recording Transactions in the Cash Receipts and Cash Payments JournalsSpecial and Combination Journals, and Voucher System 481June 2015. The company uses cash receipts and cash payments journal.Borrowed P60,000 from the V. Espiritu Bank by issuing a 12%, 60-dayThe following cash transactions of the Papa Distributors occurred during the month ofNAME:SCORE:SECTION:PROFESSOR:Problem #4Borrowed P60,000 from the y Espiritu Bank by issuing a 12%, 60-daynote payable.Purchased merchandise, P47.000. Issued check no. 71.Sold merchandise, P62,000.June 19.Paid an invoice amounting to P28.000 to Y. Filamor Company less 270discount. Issued check no. 72.7Collected amount due less 3% discount on an invoice of P29,000 fromD. Sandoval Company.10Collected amount due less 3% discount on an invoice of P22,000 fromD. Mallari Supplies.Paid freight chárges on sales, P1,000. Issued check no. 73.Paid for advertising, P3,000. Issued check no. 74.Paid salaries, P12,000. Issued check no. 75.Sold merchandise, P33,000.12141518Paid an invoice amounting to P29,000 to the C. Gonzaga Company less2% discount. Issued check no. 76.19Collected P26,000 past due invoice from R. Reyes Company.Purchased merchandise, P9,000. Issued check no. 77.Paid past due invoice to D. Ramos, Inc., P32,000. Issued check no. 78.V. Abulencia, the owner, withdrew P30,000 from the business. Issued20232628check no. 79.Required:Record the transactions in the cash receipts and cash payments journals. Foot andcrossfoot the journals.eas246

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Description: Recording Transactions in the Cash Receipts and Cash Payments JournalsSpecial and Combination Journals, and Voucher System 481June 2015. The company uses cash receipts and cash payments journal.Borrowed P60,000 from the V. Espiritu Bank by issuing a

Cash receipt and cash payment journals are the specific types of journals prepared during the entire…

Answered: Record the transactions in the cash…

Business

Accounting

Record the transactions in the cash receipts and cash payments journals. Foot and crossfoot the journals.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 2AP

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eBook Show Me How Print Item Cash Over and Short Maestro Enterprises deposits the cash received during each day at the end of the day. Maestro deposited $47,845 on October 3 and $50,811 on October 4. Cash register records and other documents supporting the deposits are summarized as follows: 10/3 10/4 Cash sales $38,560 $43,170 Collections on account 8,380 7,655 Total receipts $46,940 $50,825 Required: 1. Calculate the amount of cash over or cash short for each day. Enter negative values as negative numbers. Cash Over (Short) 10/3 $fill in the blank d362d307e02b06c_1 10/4 $fill in the blank d362d307e02b06c_2 2. Prepare the journal entry to record the receipt and deposit of cash on October 3. If an amount box does not require an entry, leave it blank. Oct. 3 fill in the blank 509af5fa706305a_2 fill in the blank 509af5fa706305a_3 fill in the blank 509af5fa706305a_5 fill in the blank 509af5fa706305a_6 fill…
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