Kozma Company\'s chart of accounts includes the following selected accounts. 101
ID: 2332483 • Letter: K
Question
Kozma Company's chart of accounts includes the following selected accounts. 101 Cash 112 Accounts Recelvable 414 Sales Discounts 120 Inventory 301 Owner's Capital 401 Sales Revenue 505 Cost of Goods Sold On April , the accounts receivable ledger of Kozma Company showed the following balances: Morrow $1,580, Rose $1,180, Jennings Co. 52.890, and Dent $2,070. The April transactions involving the receipt of cash were as follows The owner, T. Kozma, invested additional cash in the business $7,240. 4 Received check for payment of account from Dent less 2% cash discount. 5 Received check for $910 in payment of invoice no. 307 from Jennings Co 8 Made cash sales of merchandise totaling $7,250. The cost of the merchandise sold was $4,3s0. 10 Received check for $640 in payment of invoice no. 309 from Morrow. 11 Received cash refund from a supplier for damaged merchandise $765. 23 Received check for $1,055 in payment of invoice no. 310 from Jennings Co. 29 Received check for payment of account from Rose (no cash discount allowed) Apr. 1 Your answer is correct. Journalize the transactions above in a six-column cash receipts journal and cross-foot the journal. (Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g. 5,275.)
Explanation / Answer
Answer 2 General Ledger Accounts Receivables No.112 Date Explanation Ref. Debit Credit Balance Apr-01 Balance $7,720.00 Apr-04 Received from Dent $2,070.00 $5,650.00 Apr-05 Received from Jennings Co. $910.00 $4,740.00 Apr-10 Received from Morrow $640.00 $4,100.00 Apr-23 Received from Jennings Co. $1,055.00 $3,045.00 Apr-29 Received from Rose $1,180.00 $1,865.00 Apr-30 Balance $1,865.00 Answer 3 Accounts Receivables balance $1,865.00 Subsidary account balance Jennings Co. $925.00 Morrow $940.00 Total $1,865.00
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