Journalizing Cash Payments Sandcastles Northwest uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Apr. 5 Issued Check No. 429 to Standard Industries for merchandise purchased April 3, $8,700, terms 2/10, n/30. Payment is made within the discount period. 19 Issued Check No. 430 to Finest Company for merchandise purchased April 10, $4,500, terms 1/10, n/30. A credit memo had previously been received from Finest Company for merchandise returned, $300. Payment is made within the discount period after deduction for the return dated April 12. 21 Issued Check No. 431 to Funny Follies for merchandise purchased March 21, $2,800, terms n/30. 29 Issued Check No. 432 to Classic Data for merchandise purchased April 20, $6,600, terms 2/10, n/30. Payment is made within the discount period. Page: POST. GENERAL ACCOUNTS PURCHASES CASH PAYABLE DISCOUNTS CREDIT DATE CK. NO. ACCOUNT DEBITED REF. DEBIT DEBIT CREDIT M. d 1 1 M. d M. d 3 3 М.d 4 0000 00
Journalizing Cash Payments Sandcastles Northwest uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Apr. 5 Issued Check No. 429 to Standard Industries for merchandise purchased April 3, $8,700, terms 2/10, n/30. Payment is made within the discount period. 19 Issued Check No. 430 to Finest Company for merchandise purchased April 10, $4,500, terms 1/10, n/30. A credit memo had previously been received from Finest Company for merchandise returned, $300. Payment is made within the discount period after deduction for the return dated April 12. 21 Issued Check No. 431 to Funny Follies for merchandise purchased March 21, $2,800, terms n/30. 29 Issued Check No. 432 to Classic Data for merchandise purchased April 20, $6,600, terms 2/10, n/30. Payment is made within the discount period. Page: POST. GENERAL ACCOUNTS PURCHASES CASH PAYABLE DISCOUNTS CREDIT DATE CK. NO. ACCOUNT DEBITED REF. DEBIT DEBIT CREDIT M. d 1 1 M. d M. d 3 3 М.d 4 0000 00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Chapter 12 Homework
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Journalizing Cash Payments
Sandcastles Northwest uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter.
Record the following payments for merchandise purchased:
Apr. 5 Issued Check No. 429 to Standard Industries for merchandise purchased April 3, $8,700, terms 2/10, n/30. Payment is made within the discount period.
19 Issued Check No. 430 to Finest Company for merchandise purchased April 10, $4,500, terms 1/10, n/30. A credit memo had previously been received
from Finest Company for merchandise returned, $300. Payment is made within the discount period after deduction for the return dated April 12.
21 Issued Check No. 431 to Funny Follies for merchandise purchased March 21, $2,800, terms n/30.
29 Issued Check No. 432 to Classic Data for merchandise purchased April 20, $6,600, terms 2/10, n/30. Payment is made within the discount period.
Page:
POST, GENERAL ACCOUNTS PURCHASES
PAYABLE DISCOUNTS
CASH
CREDIT
DATE
CK. NO.
ACCOUNT DEBITED
REF.
DEBIT
DEBIT
CREDIT
М.d
1
1
М. d
2
2
М.d
3
М.d
4
4
000
3.
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