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Cash Transactions Summary

The document outlines financial transactions for Ramos Company and Camayo Supply Company, detailing purchases, sales, accounts receivable, and accounts payable over several days in May. It includes entries for discounts, returns, and cash transactions. Each company's entries are listed separately, highlighting their respective financial activities.

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janepelayonacion
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13 views2 pages

Cash Transactions Summary

The document outlines financial transactions for Ramos Company and Camayo Supply Company, detailing purchases, sales, accounts receivable, and accounts payable over several days in May. It includes entries for discounts, returns, and cash transactions. Each company's entries are listed separately, highlighting their respective financial activities.

Uploaded by

janepelayonacion
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Ramos Company Books Camayo Supply Company

May 4- Purchases 162,000


May 4- Accounts Receivable 162,000 Accounts Payable 162,000
Freight-out 2,000
Sales 162,000
Accounts Payable 2,000

# #

5- Accounts Receivable 710,000 5- Purchases 710,000


Sales 710,000 Freight-in 8,000
Accounts Payable 718,000

# #

6- No entry 6 – Accounts Payable. 8,000


Cash 8,000

# #

7- Sales returns and allowances 12,000 7- Accounts Payable 12,000


Accounts receivable 12,000 Purchase returns and allowances 12,000

# #

9- Cash 147,000 9- Accounts Payable 150,000


Sales Discount ( 150,000 x .02) 3,000 Purchase Discount (150,000 x .02) 3,000
Accounts receivable 150,000 Cash 147,000

# #

10- Accounts Payable 2,000 10- No entry.


Cash 2,000
# #

12- Cash 695,800 12- Accounts Payable 710,000


Sales Discount ( 710,000 x .02) 14,200 Purchase Discount (710,000 x .02) 14,200
Accounts receivable 710,000 Cash 695,800

# #
18- Accounts Receivable 150,000 18- Purchases 150,000
Sales 150,000 Accounts Payable 150,000

# #

21- No entry. 21- Freight- in 3,000


Cash 3,000

# #

23- Cash 147,000 23- Accounts Payable 150,000


Sales Discount ( 150,000 x .02) 3,000 Purchase Discount (150,000 x .02) 3,000
Accounts receivable 150,000 Cash 147,000

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