Explore BrainMass

Explore BrainMass

    Journalize and Post Note Transactions

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Journalize and Post Note Transactions. See attached file for full problem description.

    © BrainMass Inc. brainmass.com June 3, 2020, 7:38 pm ad1c9bdddf


    Solution Preview


    Please see help on your posting as given below. Same is attached as Excel file. Statements are provided along with formulas sheet for clarity and easy reference. Hope this helps you. For any further clarification feel free to get in touch.

    Best Wishes


    Part a
    In the books of Talley Company Journal entries
    Date Particulars Debit Credit
    2-Jan Purchase 20000
    Jones Company 20000
    Merchandise purchased on credit

    1-Feb Jones Company 20000
    Notes payable 20000
    Note payable ...

    Solution Summary

    The solution contains journal entries and T accounts,