Chapter 6 Homework

.xlsx
School
Texas A&M University, Kingsville **We aren't endorsed by this school
Course
ACCT 3311
Subject
Accounting
Date
Oct 23, 2023
Pages
12
Uploaded by CountSpiderMaster841 on coursehero.com
Requirement #1 Cash on Hand (undeposited sales receipts) $ 1,535 Reconciled balance in Second National Bank checking account $ 9,260 Balance in City Federal savings account $ 7,410 Total Cash Balance $ 18,205
Requirement #2 Classification Certificates of Deposit short term investment Customers Note Receivables note receivable Customers Post Dated Check receivable Employee Travel Advances prepaid expense Cash in Bond Sinking Funds long term investment Bond Sinking Funds Investments long term investment Reconciled balance in University National Bank checking account current liability
Journal Entries Requirement #1 12/8/2019 Accounts Receivable $ 70,000 Sales Revenue $ 70,000 12/18/2019 Cash $ 45,080 Sales Revenue $ 920 Accounts Receivable $ 46,000 12/31/2019 Cash $ 18,000 Accounts Receivable $ 18,000 12/31/2019 Return Liability $ 1,500 Accounts Receivable $ 1,500 1/15/2020 Cash $ 4,500 Accounts Receivable $ 4,500 Journal Entries Requirement #2 12/8/2019 Accounts Receivable $ 68,600 Sales Revenue $ 68,600 12/18/2019 Cash $ 45,080 Accounts Receivable $ 45,080 12/31/2019 Cash $ 18,000 Sales Revenue $ 360 Accounts Receivable $ 17,640 12/31/2019 Return Liability $ 1,470 Accounts Receivable $ 1,470 12/31/2019 Accounts Receivable $ 90 Sales Revenue $ 90 1/15/2020 Cash $ 4,500 Accounts Receivable $ 4,500
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