Enter the following transactions of an antiques shop in the accounts and extract a trial balance as at 31 March 20X6. 20X6 March --1 Started in business with £8,000 in the bank. == 2 Bought goods on credit from the following persons: L Frank £550; G Byers £290; P Lee £610. -- 5 Cash sales £510. == 6 Paid wages in cash £110. -- 7 Sold goods on credit to: J Snow £295; K Park £360; B Tyler £640. == 9 Bought goods for cash £120. -- 10 Bought goods on credit from: G Byers £ £410; P Lee £ == 12 Paid wages in cash £110. -- 13 Sold goods on credit to: K Park £610; B Tyler £205. == 15 Bought shop fixtures on credit from Stop Ltd £740. -- 17 Paid G Byers by cheque £700. =- 18 We returned goods to P Lee £83. =- 21 Paid Stop Ltd a cheque for £740. -- 24 B Tyler paid us his account by cheque £845. -- 27 We returned goods to L Frank £18. == 30 G Prince lent us £1,000 by cash. -- 31 Bought a van paying by cheque £6,250.

Enter the following transactions of an antiques shop in the accounts and extract a trial balance as at 31 March 20X6. 20X6 March --1 Started in business with £8,000 in the bank. == 2 Bought goods on credit from the following persons: L Frank £550; G Byers £290; P Lee £610. -- 5 Cash sales £510. == 6 Paid wages in cash £110. -- 7 Sold goods on credit to: J Snow £295; K Park £360; B Tyler £640. == 9 Bought goods for cash £120. -- 10 Bought goods on credit from: G Byers £ £410; P Lee £ == 12 Paid wages in cash £110. -- 13 Sold goods on credit to: K Park £610; B Tyler £205. == 15 Bought shop fixtures on credit from Stop Ltd £740. -- 17 Paid G Byers by cheque £700. =- 18 We returned goods to P Lee £83. =- 21 Paid Stop Ltd a cheque for £740. -- 24 B Tyler paid us his account by cheque £845. -- 27 We returned goods to L Frank £18. == 30 G Prince lent us £1,000 by cash. -- 31 Bought a van paying by cheque £6,250.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 7MC: An unhappy customer just returned $50 of the items he purchased yesterday when he charged the goods...

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am. 68.
An unhappy customer just returned $50 of the items he purchased yesterday when he charged the goods to the companys store credit card. Which special journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
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