Answer to Question #87169 in Accounting for jass

Question

Process the journal entries for the following transactions in the Journal worksheet provided.2/4/2016 Durable Pty Ltd receives a cheque (no 683) from Perth News. The cheque is attached to a remittance advice that refers to invoice 1638 issued by Durable Pty Ltd in 12/4/06. Perth News is paying the balance of its account. 650.00
3/4/2016 Durable Pty Ltd issues Invoice 1692 and stock to News Plus relating to its order dated 14/4/05
for magazines 1025.00

Answer 1

Date Account Title and Explanations Debit Credit

2/04/2016 Check no683 received from Perth News

Bank 650.00

Accounts Receivable 650.00

3/04/2016 Invoice no1692 issued for Durable Pty Ltd

Accounts Receivable 1 025.00

Sales 1 025.00