Answer to Question #172312 in Accounting for Dana Alexia

Question

Journalize each of the transactions below.

Feb 14   Sold merchandise collecting via the debit card machine amounting to $20,500

Feb 14 Sold merchandise collecting cash, $32,000. After all it is Valentine’s day!!    

Feb 18   Lodged cash of $35,000 to the business bank account

Feb 20   Paid Sweetopia $23,800 in full settlement of the balance outstanding by cheque having received a discount of $1,200

Feb 23   Commission was received by cash, $5,200 from Just Hot Buns Ltd for outstanding sales on February 14th 

Feb 25   Paid wages and utilities by cash $10,500 and $16,800 respectively.

Feb 26   Kerry-Ann took pastries for her daughter’s 5th birthday party amounting to $7,000

Feb 27 Paid Cakes by Lila before the due date receiving at 10% discount, we paid her via a direct bank transfer to her account

Answer 1

The answer to your question is provided in the image: