Accounts Payable May 2 8,000 20,000 May 1 May 22 10,500 1,000 May 5 7,500 May 15 550 May 23 Calculate the Accounts Payable balance. (Enter the balance, along with a "Bal." reference on the correct side of the T-account.) Accounts Payable May 2 8,000 20,000 May 1 May 22 10,500 1,000 May 5 7,500 May 15 550 May 23
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- ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 3 J60 3,816.00 3,816.00 Aug. 18 J60 4,589.80 fill in the blank 1 J60 105.00 fill in the blank 2 ACCOUNTS RECEIVABLE LEDGER NAME: S. Rottier ADDRESS: 1008 S. 9TH St, Monona, WI 53715 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 7 J60 1,484.00 1,484.00 Aug. 10 J60 400.00 fill in the blank 3 ACCOUNTS RECEIVABLE LEDGER NAME: L. Franklin ADDRESS: 2815 Main St, Cottage Grove, WI 53711 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 1 J60 1,272.00 1,272.00 Aug. 22 J60 2,120.00 fill in the blank 4 Using the information from the ledgers, prepare a schedule of accounts receivable as of August 31. If required, round your intermediate and final answers to the nearest cent. Willis Spas and PoolsSchedule of Accounts ReceivableAugust 31, 20-- E. McKenzie $fill…question General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.ACCOUNTS RECEIVABLE LEDGER Account Brandon Connors Post Date Item Ref. Debit Credit Balance Mar. J1 23,652.00 23,652.00 10 J2 23,652.00 0.00 14 J2 12,317.00 12,317.00 Account Collin Deluca Post Date Item Ref. Debit Credit Balance Mar. 10 J2 1,401.00 1,401.00 15 J2 2,263.00 3,664.00 Account Meghan Deutsch Post Date Item Ref. Debit Credit Balance Mar. J1 89.00 89.00 19 J2 2,568.00 2,657.00 Account Carmen Perez Post
- Help me pleaseSCHEDULE OF ACCOUNTS RECEIVABLE Based on the information provided in Problem 10-11A, prepare a schedule of accounts receivable for Sourk Distributors as of March 31, 20--. Verify that the accounts receivable account balance in the general ledger agrees with the schedule of accounts receivable total.On May 2, 20X1, HPF Vacations received its April bank statement from First City Bank and Trust. Enclosed with the bank statement, which appears below, was a debit memorandum for $160 that covered an NSF check issued by Doris Fisher, a credit customer. The firm's checkbook contained the following information about deposits made and checks issued during April. The balance of the Cash account and the checkbook on April 30, 20X1, was $3,972. DATE TRANSACTIONS April 1 Balance 1 Check 1207 3 Check 1208 5 Deposit 5 Check 1209 $6,089 100 300 350 275 10 Check 1210 17 Check 1211 19 Deposit 2,000 50 150 22 Check 1212 23 Deposit 150 26 Check 1213 200 28 Check 1214 18 30 Check 1215 15 30 Deposit 200
- On January 1, 2021, the general ledger of Big Blast Fireworks includes the following account balances: Accounts Debit Credit Cash $ 23,700 Accounts Receivable Allowance for Uncollectible Accounts 41,000 $ 4,900 39,000 Inventory Land 75,100 Accounts Payable Notes Payable (8%, due in 3 years) Common Stock Retained Earnings 27,900 39,000 65,000 42,000 Totals $178,800 $178,800 The $39,000 beginning balance of inventory consists of 390 units, each costing $100. During January 2021, Big Blast Fireworks had the following inventory transactions: 3 Purchase 1,800 units for $192, 600 on account ($107 each). 8 Purchase 1,900 units for $212,800 on account ($112 each). January January January 12 Purchase 2, 000 units for $234,000 on account ($117 each). January 15 Return 145 of the units purchased on January 12 because of defects. January 19 Sell 5,800 units on account for $870,000. The cost of the units sold is determined using a FIFO perpetu inventory system. January 22 Receive $841,000 from…PA5. 12.2 Review the following transactions, and prepare any necessary journal entries. A. On July 16, Arrow Corp. purchases 200 computers (Equipment) at $500 per computer from a supplier, on credit. Terms of the purchase are 4/10, n/50 from the invoice date of July 16. B. On August 10, Hondo Inc. receives advance cash payment from a client for legal services in the amount of $9,000. Hondo had yet to provide legal services as of August 10. C. On September 22, Jack Pies sells thirty pies for $25 cash per pie. The sales tax rate is 8%. D. On November 8, More Supplies paid a portion of their noncurrent note in the amount of $3,250 cash.PA8. 12.4 Serene Company purchases fountains for its inventory from Kirkland Inc. The following transactions take place during the current year. A. On July 3, the company purchases thirty fountains for $1,200 per fountain, on credit. Terms of the purchase are 2/10, n/30, invoice dated July 3. B. On August 3, Serene does not pay the amount due and renegotiates with Kirkland. Kirkland agrees to convert the debt owed into a short-term note, with an 8% annual interest rate, payable in two months from August 3. C. On October 3, Serene Company pays its account in full. Record the journal entries to recognize the initial purchase, the conversion, and the payment.
- 5. Record the following transactions in Tally Prime Date Amount (in RO) 2021 Cash A/C Machinery A/C Bank A/C Jan 1 11,000 50,000 32,500 12,500 (Cr) 15,000 (Dr) Areej Products Company National Packaging Factory A/C Capital A/C Purchased goods and paid by cheque ? Jan 2 7,500 Jan 31 Purchased goods from Oman Chemical Industries 12,500 Feb 1 Cash Sales 20,000 Feb 2 Sold goods to Taageer Services and offered 10% trade 15,000 discount Mar 1 Purchased goods from Raysut Industries Company and 8,000 received 5% trade discount Mar 2 Cash withdrawn from bank by proprietor for personal 1,200 use Mar 31 Sold Machinery worth of RO 3500 for RO 3,250 Apr 1 Apr 2 Goods returned to Oman Chemical Industries 1,500 12,000 Paid to Areej Products Company in full settlement Мay 1 Goods returned by Taageer Services 1,000 May 2 Paid carriage on purchases 200 May 31 Withdrew from bank for office use 1,500 Brought additional capital into business Received cash from National Packaging Factory Purchased Equipment…What are the estimated accounts receivable collections for May? A. P 85,100 B. P 87,100 C. P 88,100 D. P 89,820PA5. 7.4 Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Record the following transactions using a purchases journal, a general journal, and an accounts payable subsidiary ledger. The company uses the periodic method of accounting for inventory. Oct.1 Purchased inventory on account from Price Inc. for $2,000 Oct.1 Purchased inventory on account from Cabrera Inc. for $3,000 Oct.8 Returned half of the inventory to Price Inc. Oct.9 Purchased inventory on account from Price Inc. for $4,200
