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B. Give the journal entry to be made in the books of the purchaser, if the account to be debited is J. McCuaig, Drawings. (The owner plans to use the goods for his personal use.) PO. Box 29 RO3 ONO FL Falcon Lake Manitoba Phone 20482-9999 Fax 204424 FALCON LAKE MARINA McCuaig Supply SOLD TO 601 Stafford street Winnipeg, MS RIM 2X7 July 3, 20- DATE TERMS Net 30 days QUANTITY PART NO. DESCRITION PRCE AMOUNT 77-1139 Saturn off-shore $95.00 570.00 299.00 compasses 03-3295 LO2 dual log indicator 598.00 $1 168.00 74 PST 81.76 $1 249,76 SALES INVOICE NO. 3267

B. Give the journal entry to be made in the books of the purchaser, if the account to be debited is J. McCuaig, Drawings. (The owner plans to use the goods for his personal use.) PO. Box 29 RO3 ONO FL Falcon Lake Manitoba Phone 20482-9999 Fax 204424 FALCON LAKE MARINA McCuaig Supply SOLD TO 601 Stafford street Winnipeg, MS RIM 2X7 July 3, 20- DATE TERMS Net 30 days QUANTITY PART NO. DESCRITION PRCE AMOUNT 77-1139 Saturn off-shore $95.00 570.00 299.00 compasses 03-3295 LO2 dual log indicator 598.00 $1 168.00 74 PST 81.76 $1 249,76 SALES INVOICE NO. 3267

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Replace all taxes given in the question with HST of 13%

2. The invoice on the next page was issued by Falcon Lake Marina. Ignore GST. A. Give the journal entry to be made in the books of the vendor. (Ignore the cost of the inventory leaving the store; simply record the sales aspect of the transaction.)
Transcribed Image Text:2. The invoice on the next page was issued by Falcon Lake Marina. Ignore GST. A. Give the journal entry to be made in the books of the vendor. (Ignore the cost of the inventory leaving the store; simply record the sales aspect of the transaction.)
B. Give the journal entry to be made in the books of the purchaser, if the account to be debited is J. McCuaig, Drawings. (The owner plans to use the goods for his personal use.) Falcon Lake Manitoba PO. Box 298 RO3 ONO Phone 204-842-9999 Fax 204-842-9966 FL FALCON LAKE MARINA McCuaig Supply SOLD TO 601 Stafford Street DATE July 3, 20- Winnipeg, MB Net 30 days TERMS R3M 2X7 QUANTITY PART NO. DESCRIPTION PRICE AMOUNT 77-1139 Saturn off-shore $ 95.00 $ 570.00 598.00 compasses 2. 03-3295 LG2 dual log indicator 299.00 $1 168.00 74 PST a1.76 $1 249, 76 SALES INVOICE NO. 3267
Transcribed Image Text:B. Give the journal entry to be made in the books of the purchaser, if the account to be debited is J. McCuaig, Drawings. (The owner plans to use the goods for his personal use.) Falcon Lake Manitoba PO. Box 298 RO3 ONO Phone 204-842-9999 Fax 204-842-9966 FL FALCON LAKE MARINA McCuaig Supply SOLD TO 601 Stafford Street DATE July 3, 20- Winnipeg, MB Net 30 days TERMS R3M 2X7 QUANTITY PART NO. DESCRIPTION PRICE AMOUNT 77-1139 Saturn off-shore $ 95.00 $ 570.00 598.00 compasses 2. 03-3295 LG2 dual log indicator 299.00 $1 168.00 74 PST a1.76 $1 249, 76 SALES INVOICE NO. 3267
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