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Glencoe Accounting: First Year Course, Student Edition | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe
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Recording General Journal Transactions Juanita Ortega is the owner of Outback Guide

Chapter 6, Problem 6-7

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QUESTION:

Recording General Journal Transactions 

Juanita Ortega is the owner of Outback Guide Service. The following accounts are used to record the transactions of her business.

Instructions: Record the following transactions on page 1 of the general journal in your working papers.

Generalize about Outback’s cash sales and credit sales.                                                       

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QUESTION:

Recording General Journal Transactions 

Juanita Ortega is the owner of Outback Guide Service. The following accounts are used to record the transactions of her business.

Instructions: Record the following transactions on page 1 of the general journal in your working papers.

Generalize about Outback’s cash sales and credit sales.                                                       

ANSWER:

Step 1 of 3

Account receivables refer to the current asset account of the company that records the amount of sales for which payment has not been received by the company. It is recorded in the balance sheet of the company.

 

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