Answered: Solo traders has the following…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...

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21)

Solo traders has the following transactions for the month of February 2019.

9- Goods purchased and paid cash of RO 2,200

14- Paid Salaries of RO 800

19- Paid cash of RO 8,400 to Ali mart for the goods purchased on credit.

24- Paid RO 6,600 to Black traders for the goods purchased on credit.

Calculate and show the amount which will be transferred to Account payable column of Cash payments book for the month of February 2019?

RO 8,400

RO 2,200

RO 15,000

RO 800

Definition Definition Financial journal in which only cash-related transactions are recorded. Cash transactions are posted chronologically in the cash book, which is also called a subsidiary book. All the cash receipts are recorded on the debit side and all the cash payments are recorded on the credit side. An important point to remember is that the cash book never shows a credit balance; only a debit balance is shown in the cash book.

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