JE for Initial Mortgage Payable
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Dr. Cash
Cr. Mortgage Payable
On May 31st a store had cash sales of $30,000 and collected related sales taxes of
$1,500. What is the journal entry that the store records and what is the impact on the
accounting equation?
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, May 31 Dr. Cash 31,500
Cr. Sales Revenue 30,000
Cr. Sales Taxes Payable 1,500
A + 31,500 = L +1,500 + SE +30,000
What are unsecured bonds?
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Bonds that are issued against the general credit of the borrower.
JE for Bank Charges and Fees
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Dr. Bank Charge Expense
Cr. Cash
JE for NSF Check
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Dr. AR
Cr. Cash
Give this one a try later!
Dr. Cash
Cr. Mortgage Payable
On May 31st a store had cash sales of $30,000 and collected related sales taxes of
$1,500. What is the journal entry that the store records and what is the impact on the
accounting equation?
Give this one a try later!
, May 31 Dr. Cash 31,500
Cr. Sales Revenue 30,000
Cr. Sales Taxes Payable 1,500
A + 31,500 = L +1,500 + SE +30,000
What are unsecured bonds?
Give this one a try later!
Bonds that are issued against the general credit of the borrower.
JE for Bank Charges and Fees
Give this one a try later!
Dr. Bank Charge Expense
Cr. Cash
JE for NSF Check
Give this one a try later!
Dr. AR
Cr. Cash
