Here is the ledger for Sandhill Co.. Cash Oct. 1 8,940 Oct. 4 2,340 Oct. 10 2,920 Oct. 12 3,440...

Question:

Here is the ledger for Sandhill Co..

Cash

Oct. 1 8,940 Oct. 4 2,340
Oct. 10 2,920 Oct. 12 3,440
Oct. 10 9,940 Oct. 15 380
Oct. 20 830 Oct. 30 430
Oct. 25 3,940 Oct. 31 630

Accounts Receivable

Oct. 6 930 Oct. 20 830
Oct. 20 1,050

Supplies

Oct. 4 2,340 Oct. 31 2,120

Equipment

Oct. 3 4,940

Notes Payable

Oct. 10 9,940

Accounts Payable

Oct. 12 3,440 Oct. 3 4,940

Common Stock

Oct. 1 8,940
Oct. 25 3,940

Dividends

Oct. 30 430

Service Revenue

Oct. 6 930
Oct. 10 2,920
Oct. 20 1,050

Salaries and Wages Expense

Oct. 31 630

Supplies Expense

Oct. 31 2,120

Rent Expense

Oct. 15 380

(a) Reproduce the journal entries for only the transactions that occurred on October 1, 10, and 20. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.

Recording and Entries for Business Transactions in Accounting

So, this question is very innovative, as it requires you to reproduce and/or match the journal entries for the transactions that occurred on those particular 3 days of October. So, the question asks you to think about and match what the debits and the credits would be for those 3 days for certain dollar amounts of transactions which match each other from a transaction recording point of view. Or, if no entry or matching entry can be found, to indicate that situation, too.

Answer and Explanation:

  • (a) Reproduce the journal entries for only the transactions that occurred on October 1, 10, and 20. (If no entry is required, select "No...

See full answer below.

Become a Study.com member to unlock this answer! Create your account

View this answer

Learn more about this topic:

Loading...
Recording Business Transactions in Accounting

from Accounting 101: Financial Accounting

Chapter 3 / Lesson 7
128K

Related to this Question

Explore our homework questions and answers library