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  • Exercise 1 - 1

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    janericachua
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    The document records transactions in December for an accounting ledger. It shows notes receivable being recorded for a sale in exchange for a note, purchases being made with partial payment in cash and the rest in accounts payable, freight charges being paid in cash, income being recorded for landscaping services against accounts receivable, and a sale being recorded with payment terms.

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    Acccob 1 Exercise

    Original Title

    EXERCISE 1 - 1

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    The document records transactions in December for an accounting ledger. It shows notes receivable being recorded for a sale in exchange for a note, purchases being made with partial payment in cash and the rest in accounts payable, freight charges being paid in cash, income being recorded for landscaping services against accounts receivable, and a sale being recorded with payment terms.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    4 views1 page

    Exercise 1 - 1

    Uploaded by

    janericachua
    The document records transactions in December for an accounting ledger. It shows notes receivable being recorded for a sale in exchange for a note, purchases being made with partial payment in cash and the rest in accounts payable, freight charges being paid in cash, income being recorded for landscaping services against accounts receivable, and a sale being recorded with payment terms.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Dates Accounts Titles PR/F Debit Credit

    December 1 Notes Receivable 105 20000


    Sales 502 20000
    Recognize Sales Inexchange of Notes Receivable

    2 Purchase 601 25000


    Cash in Bank 101 10000
    Accounts Payable 301 15000
    2/10 n/30

    2 Freight-in 602 300


    Cash in Bank 101 800
    FOB Shipping point, Collect

    3 Cash in Bank 101 15000


    Accounts Receivble 104 15000
    Service Income 501 50000
    Rendered Landscaping Services to Guadalupe's Garden

    4 Cash in Bank 101 20000


    Accounts Receivable 104 50000
    Sales 502 70000
    2/10, 1/15, n/30

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