DATE 20X1 April 1 Purchased camera film on credit from Camera & Film Products, Invoice 825, $1,015, terms n/30; freight of $21 prepaid by Camera & Film Products and added to the invoice (total amount due, $1,036). 3 Purchased lenses on credit for $860 from Vision Supplies, Inc., Invoice 998, terms n/30. 11 Purchased DVD camcorders on credit for $5,700 from Optical Products, Invoice 4101, terms n/30. 15 Recorded various purchases of merchandise for cash from April 1 to April 15, $2,600. 26 Purchased lighting equipment on credit from Myers Brothers Camera Supplies, Invoice 9288, $6,500, terms n/30; freight of $228 prepaid by Myers Brothers Camera Supplies and added to the invoice (total amount due, $6,728). 27 Issued Check 102 for $590 to Vision Supplies, Inc., in partial payment of Invoice 998 dated April 3. 30 Recorded various purchases of merchandise for cash from April 16 to April 30, $3,070. 30 Issued Check 103 to Camera & Film Products in payment of the total amount due on Invoice 825 dated April 1. TRANSACTIONS

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question

please answer correct and complete with working for all

 

Annette's Photo Shop is a retail store that sells cameras and photography supplies. The company began operations April 1, 20X1. The
firm purchases its merchandise for cash and on open account. During April, the company engaged in the following transactions:
TRANSACTIONS
DATE
20x1
April 1 Purchased camera film on credit from Camera & Film Products, Invoice 825, $1,015, terms n/30; freight of $21 prepaid by
Camera & Film Products and added to the invoice (total amount due, $1,036).
3 Purchased lenses on credit for $868 from Vision Supplies, Inc., Invoice 998, terms n/30.
11 Purchased DVD camcorders on credit for $5,700 from Optical Products, Invoice 4101, terms n/30.
15 Recorded various purchases of merchandise for cash from April 1 to April 15, $2,600.
26 Purchased lighting equipment on credit from Myers Brothers Camera Supplies, Invoice 9288, $6,500, terms n/30; freight of
$228 prepaid by Myers Brothers Camera Supplies and added to the invoice (total amount due, $6,728).
27 Issued Check 102 for $590 to Vision Supplies, Inc., in partial payment of Invoice 998 dated April 3.
30 Recorded various purchases of merchandise for cash from April 16 to April 30, $3,070.
30 Issued Check 103 to Camera & Film Products in payment of the total amount due on Invoice 825 dated April 1.
Required:
2. Record the transactions in a general Journal.
3. Post the entries from the general Journal to the appropriate general ledger accounts.
GENERAL LEDGER ACCOUNTS
101 Cash, $11,900 Dr.
285 Accounts Payable
501 Purchases
582 Freight In
Analyze:
What were the total cash payments on account during April?
Transcribed Image Text:Annette's Photo Shop is a retail store that sells cameras and photography supplies. The company began operations April 1, 20X1. The firm purchases its merchandise for cash and on open account. During April, the company engaged in the following transactions: TRANSACTIONS DATE 20x1 April 1 Purchased camera film on credit from Camera & Film Products, Invoice 825, $1,015, terms n/30; freight of $21 prepaid by Camera & Film Products and added to the invoice (total amount due, $1,036). 3 Purchased lenses on credit for $868 from Vision Supplies, Inc., Invoice 998, terms n/30. 11 Purchased DVD camcorders on credit for $5,700 from Optical Products, Invoice 4101, terms n/30. 15 Recorded various purchases of merchandise for cash from April 1 to April 15, $2,600. 26 Purchased lighting equipment on credit from Myers Brothers Camera Supplies, Invoice 9288, $6,500, terms n/30; freight of $228 prepaid by Myers Brothers Camera Supplies and added to the invoice (total amount due, $6,728). 27 Issued Check 102 for $590 to Vision Supplies, Inc., in partial payment of Invoice 998 dated April 3. 30 Recorded various purchases of merchandise for cash from April 16 to April 30, $3,070. 30 Issued Check 103 to Camera & Film Products in payment of the total amount due on Invoice 825 dated April 1. Required: 2. Record the transactions in a general Journal. 3. Post the entries from the general Journal to the appropriate general ledger accounts. GENERAL LEDGER ACCOUNTS 101 Cash, $11,900 Dr. 285 Accounts Payable 501 Purchases 582 Freight In Analyze: What were the total cash payments on account during April?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Accounting Equation
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
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education