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- 16. Jim Havey receives an invoice amounting to $2916 with cash terms of 3/10 prox. and dated June 7. If a partial payment of $1666 is made on July 8, find (a) the credit given for the partial payment and (b) the balance due on the invoice. [7.4]Provide the general journal entries of the following transactions of The Pet Whiskers Company. Received a $10,000, 8%, 3-month note, dated July 1, from Peter in payment of his open account. July 1 Oct. 1 Received notification from Peter that he was unable to honor his note at this time. It is expected that Frank will pay at a later date. Received full payment from Peter for his noTe receivable previously dishonored. Nov. 15Oswego Clay Pipe Company provides services of $46,000 to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on April 23, assuming the customer made the correct payment on that date? A. Cash Sales Revenue Accounts Receivable B. Cash Sales Discounts Accounts Receivable Interest Revenue C. Cash Sales Discounts Accounts Receivable D. Cash Accounts Receivable Sales Revenue Select one: O A. Option A OB. Option B O C. Option C OD. Option D Clear my choice 45,540 460 46,000 460 45,540 460 46,000 46,000 46,000 460 46,000 45,540 460
- On Aug 29, Sindhu received an invoice for $85.49, dated Aug 27. If the terms of the invoice are 4/10, 2/20, n/60, what amount is required on Sep 15 to pay the invoice in full?Using the box below, prepare Journal entries for the following transactions: 1 On 9/1/17, AFSPA received an invoice of $36,000 for the annual insurance renewal 2 On 9/15/17, cheek is written for # 1 above 3 10/1/17, the monthly amount is expensed for #1 above 4 On 1/4/18, AFSPA received an invoice from Staples in the amount of S3200 5 On 3/5/18 member pays their quarterly dental insurance premium (this is revenue to AFSPA) in the amount of S300 6 On 3/10/18 the check bounces from # 5 above 7 Record the revenue for April #5 above Date DR Account name Cr Account name Dr Cr GL. description (25 characters)On July 9, Mifflin Company receives an $8,600, 90-day, 12% note from customer Payton Summers as payment on account. What entry should be made on July 9 to record receipt of the note?
- On December 12, 2018, Pace Electronics received $24,000 from a customer toward a cash sale of $240,000 ofdiodes to be completed on January 16, 2019. What journal entries should Pace record on December 12 andJanuary 16?5) c) On April 1st, TechHub, agreed to accept $2,000 in cash and a $3,000, 90-day, 14% note from Brittany Blue to settle her $5,000 past-due account. TechHub made the following entry to record receipt of this [3 T] cash and note: d) Brittany Blue pays this note on May 1st in full. Write the journal entry to record this transaction. [3 T]Loucks Company established a $200 petty cash fund on October 2, 2018. The fund is replenished at the end ofeach month. At the end of October 2018, the fund contained $37 in cash and the following receipts:Office supplies $76Lunch with client 48Postage 20Miscellaneous 19Required:Prepare the necessary general journal entries to establish the petty cash fund on October 2 and to replenish thefund on October 31.
- Lee receives an invoice from Office Depot dated November 2nd, 2018 for $630 with terms 6/6, 3/15, n/28. This invoice was paid on November 22nd, 2018. a. How many days were there between the date of the invoice, and when the invoice was paid? Number of days = b. How much was the amount of the discount? Amount of discount = $ c. How much was paid? days Amount paid = $ (round to the nearest cent) (round to the nearest cent)Gomez Corporation uses the allowance method to account for uncollectibles. On January 31, it wrote off an $800 account of a customer, C. Green. On March 9, it receives a $300 payment from Green.1. Prepare the journal entry for January 31.2. Prepare the journal entries for March 9; assume no additional money is expected from Green.Review the following transactions, and prepare any necessary journal entries for Juniper Landscaping Services. A. On November 5, Juniper receives advance cash payment from a customer for landscaping services in the amount of $3,500. Juniper had yet to provide landscaping services as of November 5. B. On December 11, Juniper provides all of the landscaping services to the customer from November 5. C. On December 14, Juniper receives advance payment from another customer for landscaping services in the amount of $4,400. Juniper has yet to provide landscaping services as of December 14. D. On January 19 of the following year, Juniper provides and recognizes 80% of landscaping services to the customer from December 14.
