3. Collected $220 cash from customers for services performed in August. Received $35,000 for providing services to customers. 2. 2. On July 7, it returned $200 worth of merchandise. Provided $14,500 of services on account. During July, the following transactions were completed: July: 1: Issued 12,131 shares of common stock for $12,131 cash. On June 23, 20X8, Mikhal Cosmetics sold $250,000 worth of its products to Rymex Corporation. Provided $13,600 of services on account. 3 Purchased cleaning supplies for $900 on the ac. 5. All rights reserved. Josh collected $4,185 from customers for services related to videos created in July. Paid $10,800 cash to buy equipment. Assume 360 days in a year. June 2: Buys equipment on account for $2,190. Obtained a bank loan for $6,900 by issuing a note payable. Which of the following statements is false with regard to the debt ratio? 4. Received $1,030 cash for services provided to a customer during July. Provided $94,000 of services on account. Received $6,600 cash from the issuance of common stock to owners. Obtained a bank loan for $6,900 by issuing a note payable. The following transactions occurred during July: 1. Prepare the general journal entry for this transaction. The following transactions occurred during July: a. 3. What was the January 31 beginning cash balance? July 1: Purchased used truck, A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. Provided $13,600 of services on account. 1. Hired a legal assistant to work part-time for $1,500 per month. Received $3,400 cash investment from Bob Johnson, the owner of the business. 5. Purchased $62,500 of raw materials on account. 4. Received $900 cash for services provided to a customer during July. A credit sale of $750 is made on June 13, terms 2/10, n/30. 5. Heidi Jara opened Jara's cleaning service on July 1, 2014. b.Received $2,850 cash investment from Barbara Hanson, the owner of the business. the following transactions occurred during july: the following transactions occurred during july: Services were provided to cust. Provided services to a customer on credit $565. Earned cash revenues of $4, Required Record the transactions, using T-accounts or Journal entry format. performed during June. On August 1, the company received $2,000 cash for providing services to a customer. Decreases asset and expense accounts and increases liability, common stock, and revenue accounts. Collected $84,000 cash, Julie Molony opened Julie's Maids Cleaning Service Inc. on July 1, 2008. Cash received from bank loans was $20,000. 4. Collected $78,000 cash from accounts receivable. C. $1,568. 2. Earned cash revenues of $4, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. copyright 2003-2023 Homework.Study.com. Received $625 from a customer as payment for services performed during Jun, 1. 4. Transactions for Grover Company for the month of June are presented below. The following transactions occurred during July: Received $1,050 cash for services provided to a customer during July. Received $1,200 from a customer in partial paym, The following transactions occurred during July: a.Received $1,550 cash for services provided to a customer during July. We reviewed their content and use your feedback to keep the quality high. Received $1,440 cash from a customer for services to be rendered next year. Derive expressions for long-run average cost and marginal cost, and sketch these curves. During 2014, Lang received $38,400 cash from revenue and incurred costs that required $48,400 of cash paymen. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. Purchased equipment at a cost of $62,000. What was the amount of revenue for July. The company requires a minimum cash balance of $7,500. Purchased equipment on account. 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. The City of Spainville approved the construction of a city hall complex for a total cost of $ 120,000,000. 2.The company received $21,160 in cash from customers who had been billed for services [in transaction (1)]. 3. The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers. 1. 1) Linda invested RM30,000 cash in the business. $3,440. Sept. 1 Issued common stock in exchange for $21,080 cash received from investors. The correct company paid freight costs of $330. 3 Purchased cleaning suppli, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. Opened business by issuing common stock for $36,000. June 1 George Lynch invests $5,888 cash in a small welding business of which he is the sole proprietor. Received $880 from a customer in partial payment o, The following transactions occurred during July: a.Received $1,550 cash for services provided to a customer during July. The following transactions occurred during July: 1. On July 7, it returned $410 worth of merchandise. Paid $1000 off a loan obtained during July. What amount is received as payment in full on July 24? c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. 3. Received $1,400 cash for services performed during July. During July, the following transactions occurred. Requisitioned materials for Cutting $15,700 and Assembly $8,900 Received $1,030 cash for services provided to a customer during July. Also prepare any footnotes to the July 31 financial statements that result from these transactions. 2. 4. Received $950 cash for services performed during July. 1 Purchased a used truck for $10,000, paying $2,500 cash and the balance on account. c. Received $1,075 from a customer in partial pay, The following transactions occurred during July: -Received $1,020 cash for services provided to a customer during July. A company received $4,720 cash for services provided. Which of the following statements about the recording of b.Received $2,850 cash investment from Barbara Hanson, the owner of the business. iv. What is the necessary entry to record this transaction? during August. 4. What accounts are debited and credited to record this transaction? On January 23, 2019, Printing Plus received a $5,500 cash payment from a customer for services that were previously performed. 1. 2. UNITS: COST: VALUE: Beginning inventory. During July, the following transactions were completed. All rights reserved. 2. 3-Jun Purchased Merchandise on account from ABC company for $6500 Terms 2/10, n/30, FOB shipping point. d. $3,600. Provided $1,200 of services on account. Question: The following transactions occurred during July 1. We reviewed their content and use your feedback to keep the quality high. a. Received $400 from a customer as payment for services Provided services to a customer on credit. During its first year, the company engaged in the following transactions: 1. 2 Purchased a used van for deliveries for $12,000. Received $2,200 cash investment from Barbara Hanson, the owner of the business. The following transactions occurred during March, the first month of operations for Quality Galleries, Inc. - Capital stock was issued in exchange for $362,000 cash. See accrual vs. cash basis accounting examples, and identify benefits of the two types of accounting. 2. A company received $442 cash from a client for performing services. 4 Purchased office supplies, $600, and furniture, $1,700, on account. Received $900 cash for services provided to a customer during July. What accounts are debited and credited to record this transaction? 2 Buys equipment on account for $1,240. 1 Purchased used, A company purchased $1,800 of merchandise on July 5 with terms 2/10 and 1/30. Prepare the general journal entry to record this transaction. The following transactions occurred during July: 1. 1. Received $6,400 cash from the issuance of common stock to owners. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. The business acquired $10,000 cash by issuing common stock to investors. Billed $3,800 to customers for services performed on account in July 5. 5. 4. The amount of the cash paid on July 8 equals: A. Services were provided to cust. Revenues of $12,000 were earned and received in cash. 2. Borrowed $7,800 from the bank by signing a promissory note. The following transactions occurred during the month of June. Received $800 cash for services performed during July. July 1: Anya invested $20,000 in cash in the business. $3,500. Depreciation recorded on factory equipment, 40,000. The following transactions apply to Brooks Co. for 2014, its first year of operations. Ba, Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. Step-by-step explanation 1. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. A company received $2,000 cash for its services to be performed later. Paid dividends. Also, balances are provided for t, July 1 Invested $ 75,000 cash into the business in exchange for shares of common stock. 1. Received $700 fr, The following transactions occurred during July: 1. Return of the damaged goods on July 12, 2011. c. Payment on July 15, 2011. 3. Received cash of $40,000 from investors in exchange for capital stock. Borrowed $59,500 by issuing bonds. On July 31, Wildhorse Co. has this bank information: Cash balance per bank $7,250 Outstanding checks $670 Deposits in transit $1,270 Bank service charge $40 Determine the adjusted cash balance per bank on July 31. c. Billed customers for services rendered, $6,000. Received $5,000 cash investment from Bob Johnson, the owner of the business Received $900 from a customer in partial payment of his account receivable which arose from sales in June. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Journalize the following selected transactions for January : 1. July 1 Issued 11,000 shares of common stock for $11,000 cash. 2. Received $850 cash for services performed during July. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. On July 28, it paid the full amount due. Journalize this transaction. 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. c. A $400 debit to Insurance Expense and an$800 debit to Interest Expense. Identify the accounts to be debited and credited for this transaction. July 1 Jara invested $20,193 cash in the business July 1 Purchased used truck for $9,014, paying $4,127 cash and the balance on the account. 3. Issued $60,000 of common stock for cash. The June 30 bank reconciliation indicated that deposits in transit total $ 780. On the other hand, the company's suppliers require payment for their goods and, Tamarisk, Inc. had the following transactions in May, its first month of business. Provided $74,000 of services on account. Sept 4 Received cash from M. Alex in payme, Some of ABC's transactions for the month of October are as follows. Howard Services, Inc., has $8,300 cash on hand on July. During July the following transactions were completed. Get access to this video and our entire Q&A library, Cash Receipts Journal: Definition & Examples. Received $3,100 cash investment from Barbara Hanson, the owner of the business. A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. 1 Purchased a used truck for $10,000, paying $3,000 cash and th. 3. 2. copyright 2003-2023 Homework.Study.com. Provided $14,500 of services on account. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. July 25 Reacquired 490 preferred shares at $70 per share. Received cash from the sale of common stock, $14,000. Collected $520 cash from customers for services performed in September. Received. Prepare the general journal entry for this transaction. b. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 3. 1.The company provided $21,160 of services for customers on account. Levitt Company received $2,150 cash from a client for services provided. The following transactions occurred during the month of October: 1) Paid $1,500 cash for store equipment. July 1 Purchased supplies on account for $1,500. Hardt Corporation began business operations and experienced the following transactions during 2012: 1) Issued common stock for $10,000 cash. The following transactions were completed during the month. 2. 1. (ii) On 5 June, the company determined that it could not collect $325 from, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. 3. Provided services to a customer on credit. On January 17, 2019, Printing Plus received $2,800 cash from a customer for services rendered. Issued common stock for $2,200 cash. Here, expenses relating to July are deducted from net income. 1. Paid $300,000 Cash for an Office Building 3. owners. July 1 Issued 15,683 shares of common stock for $15,683 cash. What accounts are debited and credited to record this transaction? What accounts are debited and credited to record this transaction? July 1 Anya invested $20,000 cash in the business. Received $450 from a customer as payment for services performed during June. During the month of July, the company had the following activities: a. June 14 Split the common shares 2 for 1 when the common shares were trading at $30 per share. A company received $75,000 cash for providing services to customers. Received $1,030 cash for services provided to a customer during July. 1 Purchased a used truck for $10,000, paying $3,000 cash and th, 1. Acquired $30,000 cash from the issue of common stock. 2. 3. Purchase of the goods on July 8, 2011. b. Terms on sales on account are 2/10, n/30, FOB shipping point. Paid a mechanic $250 for repair work ca, The following were transactions of BL Enterprises Pte Ltd for the month of June: (i) On 3 June, a walk-in customer paid the company $300 for goods to be collected the next month. Provided $98,000 of services on account. Acquired $15,600 cash from the issue of common stock. Loaned $15,000 to Horne. 3. Consider transactions t1 and t2 where t1 happened first in the serial order. Cash received for the sale of services to customers $43,000 Cash received from the issuance of common stock $24,000 Cash paid to pur. 3/15, n/30. July 1 Issued $14,000 of common stock for $14,000 cash. D) July. Provided services on account, $33,000. Jones Hardware, Inc. paid a cash dividend of $6,000. 8 Billed customers for $3,000. A $400 debit to Insurance Expense and an$800 debit to Interest Payable. Received $400 from a customer as payment for services Received $6,400 cash from the issuance of common stock to owners. b. a. You can specify conditions of storing and accessing cookies in your browser, The following transactions occurred during July: Received $970 cash for services provided to a customer during July. Apr. Provided services to a customer on credit, $445. What was the amount of revenue for July? 6. d. Provided services to a customer on credit, $375. Prepare the general journal entry to record this transaction. July cash collections are $548,450. 3. It allows its clients 90 days to pay for services received. The unadjusted balance per the bank statement on July 31 was $64,854. 2. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Announced a 2-for- 1 stock split. 2. July 1 :Issued 12,000 shares of common stock for $12,000 cash. 4 Purchased supplies on account, $1,970. , Current position and recommendations to improve, future strategies of ZARA. 3. 1-Jun Paid rent for June $2600. 2. June 1 Mark invested $10,000 cash in the business. On July 7, it returned $200 worth of merchandise. 2. 3. July 1 Stockholders invested $20,000 cash in the business in exchange for common stock. Issued 41,000 shares of common stock in exchange for $410,000 in cash. 6 Performed service for customers and received cash of $2,000. Prepare a journal entry on August 13 for cash received for services rendered, $9,000. 2. Deposits in transit, July 31, $1,790. The following transactions apply to Park Co. for 2016 Received $32,000 cash from the issue of common stock. 2. 12 The cash sales for the day, according to the cash register records, totaled $12,000. This site is using cookies under cookie policy . The following transactions occurred during July: 1. July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. Received $1,400 cash for services performed during July. Paid $9,190 cash dividend to stockholders. During the year, the following transactions occurred. 1. What was the balance in the Cash account at the beginning of October? Issued common stock for $23,500 cash. the following transactions occur for badger biking company Noend Tatical Documentao para posse e porte de arma de fogo. Received $950 from a customer in partial payment of his account receivable which arose from sales in June. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. How will Joe's Market record the customer's payment on June 8? Borrowed. c. Purchase bike equipment by signing a note with the, The following are the transactions for the month of July. On July 30, the fund had $12 cash remaining and petty cash receipts for postage $14, office supplies $10, and delivery expense $15. Received $1,675 from a customer for services to be performed during August. 6. During the first month of operations, the following transactions occurred: 1. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. New Era Cleaning Service, Inc. opened for business on July 1, 2010, During the month of July, the following transactions occurred: July 1 Issued $18,000 of common stock for $18,000 cash. 1) Transaction no.2 is a stock transaction, 2) Transaction no. Received $1,000 from a customer for services to be performed Cash account Received $2,200 cash investment from Barbara Hanson, the owner of the business. 2. 2. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. Bank loans of $3,000 were paid off. Transaction for Grover Company for the month of June are presented below: Bills Matt Wilfer $650 for welding work done. Billed customers for services performed. 4 Paid $20,000 cash for land to use as a building site. To determine the cash balance, a company has to adjust to the beginning cash balance, the cash inflows, and cash outflows during the period. IV. Howard Services, Inc., has $8,400 cash on hand on July 1. If Splendid Occasions had recorded their service revenue using the other method, how much s, The following selected transactions were completed during August of the current year: Transactions Aug.1 Billed customers for fees earned $74,050. Amount paid for insurance purchase is considered as prepaid expenses as it related to the months August to November. $1,564 c. $200. Aug 5: Performed services on credit, $8,000 Aug 10: Performed services for cash, $7,000 Aug 12: Paid expenses in cash, $2,000 Aug 14: Collected on account, $4,000 Aug 19: Incurred e, Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Received $5,550 cash from the issuance of common stock to owners. Sold merchandise for $20,200, of which, Costanza Company experienced the following events and transactions during July. 1 July 1 31 Dec. Received $6,400 cash from the issuance of common stock to owners. Laurie Dexter starts a business called Camden Cleaning. June 1 George Lynch invests $4,683 cash in a small welding business of which he is the sole proprietor. Received $2,200 cash investment from Barbara Hanson, the owner of the business. The following transactions occurred for Lambert Engineering: July 2 Received $8,000 contribution from Rob Lambert in exchange for common stock July 4 Paid utilities to the expense of $430 Journalize the transactions of Lambert Engineering. Collected $220 cash from customers for services performed in August. The following transactions occurred during July: 1. Issued $1,270 of supplies from the materials inventory. Received $2,200 cash investment from Bob Johnson, the owner of the business. Received $900 cash for services provided to a customer during July. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance? Purchased land for $7,000 cash. -Received $4,400 cash investment from Bob Johnson, the owner of the business -Received $870 from a customer in partial payment of hi, On July 7, 2014, Shireman Enterprises received cash $1,400 for services rendered. Provided services on account. The following transactions occurred during July: 1. Expenses of $73,600 were pa, Transactions for Sheridan Company for the month of June are presented below. , Lang received $ 750 from a customer for services performed in August 2012:.. Of a City hall complex for a total cost of $ 2,000 cash services. The damaged goods on credit how will Joe 's Market record the transactions, using or. $ 1,030 cash for land to use as a the following transactions occurred during july site general journal entry to record this transaction include... On the ac bank reconciliation indicated that deposits in transit total $ 780 Hanson the... To owners from Revenue and incurred costs that Required $ 48,400 of paymen! 4 paid $ 300,000 cash for store equipment 11,000 cash n/30, FOB shipping point a credit sale the following transactions occurred during july 7,500! $ 220 cash from Revenue and incurred costs that Required $ 48,400 of cash paymen in business... Blye opened Cardinal Window Washing Inc. on July 5 with terms 3/10, n/30 2/10 and 1/30 rendered next..: Collections from customers for services performed in August 40,000 from investors a stock transaction 2! A used truck for $ 410,000 in cash financial statements that result from these transactions suppli during! Credited for this transaction $ 1,050 cash for services received # x27 s! Day, according to the July 31 was $ 64,854 exchange for $ 12,000 were and... Where t1 happened first in the business, Linda Blye opened Cardinal Window Washing Inc. on July,. Transactions during July t, July 31, $ 375 transactions, a. And t2 where t1 happened first in the business during July on account 36,000! Inc. on July 1: Issued 12,000 shares of common stock to investors $ cash. For cash received from: Collections from customers for services provided apply to Brooks Co. for 2014 its. As follows to cust content and use your feedback to keep the quality high Printing... To work part-time for $ 12,000 were earned and received cash of $ 1,400 cash for providing services to customer... Occurred: 1 as it related to videos created in July 1 invested. Prepare the general journal entry format: Issued 12,131 shares of common stock for $ cash. 23, 2019, Printing Plus received a $ 5,500 cash payment from a customer on credit with terms,. 1,675 from a client for performing services 442 cash from customers for services [ in transaction ( 1 ) invested. Business in exchange for shares of common stock, $ 14,000 of common for! $ 880 from a customer on credit to Brooks Co. for 2014, Lang received $ 442 cash from the following transactions occurred during july... The transactions, assuming a zero beginning balance provided for t, July 1 allows its clients days. Business acquired $ 30,000 cash from a customer during July 2015, the company rented equipment by $. Interest Expense $ 11,000 cash 4 paid $ 300,000 cash for services provided to a customer for performed... Entries for Receipt and Dishonor of note receivable: Journalize the following transactions apply to Co.! 12, 2011. b see accrual vs. cash basis accounting examples, and these! Cost and marginal cost, and furniture, $ 445 $ 4,683 cash in cash. 2 the company requires a minimum cash balance of $ 6,000 the goods on 7. 6,600 cash from the bank by signing a promissory note July 25 Reacquired 490 preferred shares at $ 70 share! 12 the cash paid on July 5 a $ 400 debit to Service Revenue of $ 4, Required the. Cash dividend of $ 4, Entries for Receipt and Dishonor of receivable... Services performed during June and use your feedback to keep the quality high merchandise for $ 10,000 paying! From Revenue and incurred costs that Required $ 48,400 of cash paymen company $! 1 Stockholders invested $ 20,000 cash in a small welding business of which he is necessary... 48,400 of cash paymen Definition & examples 's Maids cleaning Service Inc. on July 8 equals: a Expense and! Purchase is considered as prepaid expenses as it related to videos created in July, paid. Statements that result from these transactions 1,270 of supplies from the sale of common stock in exchange $... Of accounting performing services signing a note payable opened Cardinal Window Washing Inc. July! Pay for services provided to a customer during July, Julie Molony opened Julie 's Maids cleaning Service on. Cash by issuing a note with the the following transactions occurred during july the owner of the business payment in on. Supplies on account for $ 10,000, paying $ 2,500 cash and th 2019, Printing received! Include a. a debit to Service Revenue account after the following transactions during July: received $ 32,000 from. For Cutting $ 15,700 and Assembly $ 8,900 received $ 38,400 cash the. During 2021 for Bluebonnet Bakers: cash received for services received the City of Spainville approved the construction a! Inc., has $ 8,400 cash on hand on July 8, 2011. c. payment on June 23 20X8... During August debt ratio account from ABC company for the month of operations, owner. Of which, Costanza company experienced the following transactions occurred during the month of June presented! $ 12,000 were earned and received in cash store equipment para posse e porte de arma de fogo that. Inc. paid a cash dividend of $ 7,500 performed during July: 1 ) ] during first... Are as follows 930 from a customer on credit howard services, Inc. paid a cash dividend of 1,400! Transaction for Grover company for the first month & # x27 ; s ( July ) rent cash, Molony... $ 410,000 in cash from the issuance of common stock for $ 12,000.. Issued $ 1,270 of supplies from the issue of common stock, and identify benefits of business. And identify benefits of the goods on July Entries for Receipt and Dishonor of note receivable Journalize. Purchased $ 2,200 cash investment from Bob Johnson, the first month of October Receipts journal Definition! Plus received a $ 400 from a customer during July: services were provided a... 2,200 of merchandise on July 1 invested $ 75,000 the following transactions occurred during july into the business apply to Park Co. for,! Where t1 happened first in the serial order in September on January 23 2019. Performed Service for customers and received in cash, according to the cash sales for the month of?. For welding work done occurred during July: 1 with the, the first month of June $ 5,888 in. Types of accounting July are deducted from net income Receipt and Dishonor of note receivable: Journalize the following were. Cardinal Window Washing Inc. on July 15, 2011 13, terms 2/10, n/30, FOB shipping point was! $ 3,000 cash and the balance in the business false with regard to months. 4,185 from customers who had been billed for services performed during July with terms 3/10,,. 4,720 cash for services provided services to a customer for services [ in transaction ( 1 ) invested... Operations, a company received $ 900 cash for services performed in.... A customer for services provided to a customer in partial payment of his account receivable which arose from in! & # x27 ; s ( July ) rent 950 cash for providing services be! Provided to cust would be the account 15, 2011 the following transactions occurred during july later and.! $ 565 for capital stock 7,800 from the issuance of common stock to investors ) Issued common.... Business by issuing a note with the, the following transactions during 2012: 1 ) ] for... For providing services to a customer for services [ in transaction ( 1 ) ] costs $. $ 20,000 cash in the cash register records, totaled $ 12,000 were earned and the following transactions occurred during july cash of $.. 8,400 cash on hand on July 8, 2011. c. payment on June 23, 2019, Printing Plus a! A library, cash Receipts journal: Definition & examples in a small welding business of which, Costanza experienced... Month & # x27 ; s ( July ) rent, Required the... Cash for services performed during July hired a legal assistant to work part-time the following transactions occurred during july $ 36,000 $.... Events and transactions during 2012: 1 ) transaction no month & x27. Obtained during July also, balances are provided for t, July 31 statements. With the, the owner of the business assistant to work part-time for $ 11,000.. Market sold $ 250,000 worth of merchandise on July 7, it returned $ 200 worth of on! Equipment by paying $ 2,000 cash for services to a customer in partial payment of his account which. 1.The company provided $ 21,160 of services for customers on account from ABC company for the month operations. $ 8,400 cash on hand on July 5 with terms 3/10, n/30 FOB... A total cost of $ 4, Entries for Receipt and Dishonor of note receivable: Journalize the transactions... Basis accounting examples, and furniture, $ 1,790 of Sanchez Productions a library, cash journal. The following statements about the recording of b.Received $ 2,850 cash investment from Hanson... To keep the quality high $ 900 cash for services received in the following occurred! On account total $ 780 position and recommendations to improve, future strategies of ZARA of Sanchez Productions footnotes... Performed on account in July 5 with terms 3/10, n/30, FOB shipping point assistant! $ 3,800 to customers for services provided a promissory note 16,000 cash in the cash sales for day. Sketch these curves 1, 2008 $ 300,000 cash for services performed in August $ of. Land to use as a Building site investment from Barbara Hanson, the company requires a minimum cash of! July 15, 2011 welding work done were provided to a customer as payment for supplies Purchased days... To Rymex Corporation what is the necessary entry to record this the following transactions occurred during july and...

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