Homework: Chapter 17 Homework Save Score: 0 of 4 pts 4 of 4 (2 complete) HW Scor

Question

Homework: Chapter 17 Homework Save Score: 0 of 4 pts 4 of 4 (2 complete) HW Score: 20%, 2 of 10pt P17-32A (similar to) Question Help Teacher Stars produces stars for elementary teachers to reward their students June transactions are summarized as follows: Teacher Stars trial balance on June 1 follows: EEB (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows (Click the icon to view the transactions.) Read the requirements. (Click the icon to view the balances.) Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Collections on account, $151,000 Date Accounts DebitCredit

Explanation / Answer

a. Cash a/c Dr 151000

To Customers a/c 151000

b. Selling and administrative expenses a/c Dr 31000

To Cash a/c 31000

c. Creditors a/c Dr 43000

To cash a/c 43000

d. Paper a/c Dr 23300

Indirect materials a/c Dr 3300

To Creditors a/c 26600

e. No need to pass entry

f. Wages a/c Dr 34000

To Cash a/c 34000

g. Wages payable a/c Dr 3000

To Wages a/c 3000

h. Depreciation a/c Dr 3200

To Plant & equipment a/c 3200

i. no need to pass entry.

j. no need to pass entry.

k. Cash a/c Dr 100000

To Sales 100000

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