Bill Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year. July 5 Purchased merchandise on account from Wheeler Warehouse, $4,300. 8 Paid freight charge on merchandise purchased, $230. 12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise cost $2,500. 15 Received a credit memo from Wheeler Warehouse for merchandise, $670. 22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820. The cost of the merchandise is $550. Required: 1. Journalize the above transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank. Page: 1 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 July 5 fill in the blank 2ba7dbfa8fd3fbe_2 fill in the blank 2ba7dbfa8fd3fbe_3 1 2 fill in the blank 2ba7dbfa8fd3fbe_5 fill in the blank 2ba7dbfa8fd3fbe_6 2 3 July 8 fill in the blank 2ba7dbfa8fd3fbe_8 fill in the blank 2ba7dbfa8fd3fbe_9 3 4 fill in the blank 2ba7dbfa8fd3fbe_11 fill in the blank 2ba7dbfa8fd3fbe_12 4 5 July 12 fill in the blank 2ba7dbfa8fd3fbe_14 fill in the blank 2ba7dbfa8fd3fbe_15 5 6 fill in the blank 2ba7dbfa8fd3fbe_17 fill in the blank 2ba7dbfa8fd3fbe_18 6 7 July 15 fill in the blank 2ba7dbfa8fd3fbe_20 fill in the blank 2ba7dbfa8fd3fbe_21 7 8 fill in the blank 2ba7dbfa8fd3fbe_23 fill in the blank 2ba7dbfa8fd3fbe_24 8 9 July 22 fill in the blank 2ba7dbfa8fd3fbe_26 fill in the blank 2ba7dbfa8fd3fbe_27 9 10 fill in the blank 2ba7dbfa8fd3fbe_29 fill in the blank 2ba7dbfa8fd3fbe_30 10 2. Journalize the above transactions in a general journal using the perpetual inventory method. If an amount box does not require an entry, leave it blank. Page: 1 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 July 5 fill in the blank 60c1c60a5f92057_2 fill in the blank 60c1c60a5f92057_3 1 2 fill in the blank 60c1c60a5f92057_5 fill in the blank 60c1c60a5f92057_6 2 3 July 8 fill in the blank 60c1c60a5f92057_8 fill in the blank 60c1c60a5f92057_9 3 4 fill in the blank 60c1c60a5f92057_11 fill in the blank 60c1c60a5f92057_12 4 5 July 12 fill in the blank 60c1c60a5f92057_14 fill in the blank 60c1c60a5f92057_15 5 6 fill in the blank 60c1c60a5f92057_17 fill in the blank 60c1c60a5f92057_18 6 7 July 12 fill in the blank 60c1c60a5f92057_20 fill in the blank 60c1c60a5f92057_21 7 8 fill in the blank 60c1c60a5f92057_23 fill in the blank 60c1c60a5f92057_24 8 9 July 15 fill in the blank 60c1c60a5f92057_26 fill in the blank 60c1c60a5f92057_27 9 10 fill in the blank 60c1c60a5f92057_29 fill in the blank 60c1c60a5f92057_30 10 11 July 22 fill in the blank 60c1c60a5f92057_32 fill in the blank 60c1c60a5f92057_33 11 12 fill in the blank 60c1c60a5f92057_35 fill in the blank 60c1c60a5f92057_36 12 13 July 22 fill in the blank 60c1c60a5f92057_38 fill in the blank 60c1c60a5f92057_39 13 14 fill in the blank 60c1c60a5f92057_41 fill in the blank 60c1c60a5f92057_42 14
Bill Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year. July 5 Purchased merchandise on account from Wheeler Warehouse, $4,300. 8 Paid freight charge on merchandise purchased, $230. 12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise cost $2,500. 15 Received a credit memo from Wheeler Warehouse for merchandise, $670. 22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820. The cost of the merchandise is $550. Required: 1. Journalize the above transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank. Page: 1 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 July 5 fill in the blank 2ba7dbfa8fd3fbe_2 fill in the blank 2ba7dbfa8fd3fbe_3 1 2 fill in the blank 2ba7dbfa8fd3fbe_5 fill in the blank 2ba7dbfa8fd3fbe_6 2 3 July 8 fill in the blank 2ba7dbfa8fd3fbe_8 fill in the blank 2ba7dbfa8fd3fbe_9 3 4 fill in the blank 2ba7dbfa8fd3fbe_11 fill in the blank 2ba7dbfa8fd3fbe_12 4 5 July 12 fill in the blank 2ba7dbfa8fd3fbe_14 fill in the blank 2ba7dbfa8fd3fbe_15 5 6 fill in the blank 2ba7dbfa8fd3fbe_17 fill in the blank 2ba7dbfa8fd3fbe_18 6 7 July 15 fill in the blank 2ba7dbfa8fd3fbe_20 fill in the blank 2ba7dbfa8fd3fbe_21 7 8 fill in the blank 2ba7dbfa8fd3fbe_23 fill in the blank 2ba7dbfa8fd3fbe_24 8 9 July 22 fill in the blank 2ba7dbfa8fd3fbe_26 fill in the blank 2ba7dbfa8fd3fbe_27 9 10 fill in the blank 2ba7dbfa8fd3fbe_29 fill in the blank 2ba7dbfa8fd3fbe_30 10 2. Journalize the above transactions in a general journal using the perpetual inventory method. If an amount box does not require an entry, leave it blank. Page: 1 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 July 5 fill in the blank 60c1c60a5f92057_2 fill in the blank 60c1c60a5f92057_3 1 2 fill in the blank 60c1c60a5f92057_5 fill in the blank 60c1c60a5f92057_6 2 3 July 8 fill in the blank 60c1c60a5f92057_8 fill in the blank 60c1c60a5f92057_9 3 4 fill in the blank 60c1c60a5f92057_11 fill in the blank 60c1c60a5f92057_12 4 5 July 12 fill in the blank 60c1c60a5f92057_14 fill in the blank 60c1c60a5f92057_15 5 6 fill in the blank 60c1c60a5f92057_17 fill in the blank 60c1c60a5f92057_18 6 7 July 12 fill in the blank 60c1c60a5f92057_20 fill in the blank 60c1c60a5f92057_21 7 8 fill in the blank 60c1c60a5f92057_23 fill in the blank 60c1c60a5f92057_24 8 9 July 15 fill in the blank 60c1c60a5f92057_26 fill in the blank 60c1c60a5f92057_27 9 10 fill in the blank 60c1c60a5f92057_29 fill in the blank 60c1c60a5f92057_30 10 11 July 22 fill in the blank 60c1c60a5f92057_32 fill in the blank 60c1c60a5f92057_33 11 12 fill in the blank 60c1c60a5f92057_35 fill in the blank 60c1c60a5f92057_36 12 13 July 22 fill in the blank 60c1c60a5f92057_38 fill in the blank 60c1c60a5f92057_39 13 14 fill in the blank 60c1c60a5f92057_41 fill in the blank 60c1c60a5f92057_42 14
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
Bill Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year.
| July 5 | Purchased merchandise on account from Wheeler Warehouse, $4,300. |
| 8 | Paid freight charge on merchandise purchased, $230. |
| 12 | Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise cost $2,500. |
| 15 | Received a credit memo from Wheeler Warehouse for merchandise, $670. |
| 22 | Issued a credit memo to Big Time Spoiler for merchandise returned, $820. The cost of the merchandise is $550. |
Required:
1. Journalize the above transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank.
| DATE | DESCRIPTION | POST. REF. |
DEBIT | CREDIT | ||
|---|---|---|---|---|---|---|
| 1 | July 5 | fill in the blank 2ba7dbfa8fd3fbe_2 | fill in the blank 2ba7dbfa8fd3fbe_3 | 1 | ||
| 2 | fill in the blank 2ba7dbfa8fd3fbe_5 | fill in the blank 2ba7dbfa8fd3fbe_6 | 2 | |||
| 3 | July 8 | fill in the blank 2ba7dbfa8fd3fbe_8 | fill in the blank 2ba7dbfa8fd3fbe_9 | 3 | ||
| 4 | fill in the blank 2ba7dbfa8fd3fbe_11 | fill in the blank 2ba7dbfa8fd3fbe_12 | 4 | |||
| 5 | July 12 | fill in the blank 2ba7dbfa8fd3fbe_14 | fill in the blank 2ba7dbfa8fd3fbe_15 | 5 | ||
| 6 | fill in the blank 2ba7dbfa8fd3fbe_17 | fill in the blank 2ba7dbfa8fd3fbe_18 | 6 | |||
| 7 | July 15 | fill in the blank 2ba7dbfa8fd3fbe_20 | fill in the blank 2ba7dbfa8fd3fbe_21 | 7 | ||
| 8 | fill in the blank 2ba7dbfa8fd3fbe_23 | fill in the blank 2ba7dbfa8fd3fbe_24 | 8 | |||
| 9 | July 22 | fill in the blank 2ba7dbfa8fd3fbe_26 | fill in the blank 2ba7dbfa8fd3fbe_27 | 9 | ||
| 10 | fill in the blank 2ba7dbfa8fd3fbe_29 | fill in the blank 2ba7dbfa8fd3fbe_30 | 10 |
2. Journalize the above transactions in a general journal using the perpetual inventory method. If an amount box does not require an entry, leave it blank.
| DATE | DESCRIPTION | POST. REF. |
DEBIT | CREDIT | ||
|---|---|---|---|---|---|---|
| 1 | July 5 | fill in the blank 60c1c60a5f92057_2 | fill in the blank 60c1c60a5f92057_3 | 1 | ||
| 2 | fill in the blank 60c1c60a5f92057_5 | fill in the blank 60c1c60a5f92057_6 | 2 | |||
| 3 | July 8 | fill in the blank 60c1c60a5f92057_8 | fill in the blank 60c1c60a5f92057_9 | 3 | ||
| 4 | fill in the blank 60c1c60a5f92057_11 | fill in the blank 60c1c60a5f92057_12 | 4 | |||
| 5 | July 12 | fill in the blank 60c1c60a5f92057_14 | fill in the blank 60c1c60a5f92057_15 | 5 | ||
| 6 | fill in the blank 60c1c60a5f92057_17 | fill in the blank 60c1c60a5f92057_18 | 6 | |||
| 7 | July 12 | fill in the blank 60c1c60a5f92057_20 | fill in the blank 60c1c60a5f92057_21 | 7 | ||
| 8 | fill in the blank 60c1c60a5f92057_23 | fill in the blank 60c1c60a5f92057_24 | 8 | |||
| 9 | July 15 | fill in the blank 60c1c60a5f92057_26 | fill in the blank 60c1c60a5f92057_27 | 9 | ||
| 10 | fill in the blank 60c1c60a5f92057_29 | fill in the blank 60c1c60a5f92057_30 | 10 | |||
| 11 | July 22 | fill in the blank 60c1c60a5f92057_32 | fill in the blank 60c1c60a5f92057_33 | 11 | ||
| 12 | fill in the blank 60c1c60a5f92057_35 | fill in the blank 60c1c60a5f92057_36 | 12 | |||
| 13 | July 22 | fill in the blank 60c1c60a5f92057_38 | fill in the blank 60c1c60a5f92057_39 | 13 | ||
| 14 | fill in the blank 60c1c60a5f92057_41 | fill in the blank 60c1c60a5f92057_42 | 14 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education