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Recording Cash Payment Transactions Cycle Tech Bicycles had the following cash pay ment
Chapter 15, Problem 15-8(choose chapter or problem)
Recording CashPayment Transactions
Cycle Tech Bicycles had the following cash payment transactions in March.
Instructions In your working papers, record the transactions on page 19of the general journal.
Determine the total decrease to the checking account for the month.
Questions & Answers
QUESTION:
Recording CashPayment Transactions
Cycle Tech Bicycles had the following cash payment transactions in March.
Instructions In your working papers, record the transactions on page 19of the general journal.
Determine the total decrease to the checking account for the month.
ANSWER:Step 1 of 2
Cash payment transactions are the usage of cash for procuring either goods or assets; or for making payments for expenses. In all cases, the cash payment reduces the cash balance and is credited to the cash account.