• On May 2, you paid Carolina Mfg. (account number C354) for inventory purchased on Apr. 27 for $1,000. Carolina Mfg. offered terms of 2/10, n/30. Use check #8024. • On May 6, paid Static Electrical $654 (account number S221). They repaired the fuse box in the maintenance room. Use check #8025 and debit the Repairs and Maintenance account, #655. • On May 8, used check #8026 to pay Maryland Company (account number M852) $1,700 for inventory purchased on Apr. 25. Maryland offered terms of 2/10, n/3O.
• On May 2, you paid Carolina Mfg. (account number C354) for inventory purchased on Apr. 27 for $1,000. Carolina Mfg. offered terms of 2/10, n/30. Use check #8024. • On May 6, paid Static Electrical $654 (account number S221). They repaired the fuse box in the maintenance room. Use check #8025 and debit the Repairs and Maintenance account, #655. • On May 8, used check #8026 to pay Maryland Company (account number M852) $1,700 for inventory purchased on Apr. 25. Maryland offered terms of 2/10, n/3O.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
- On May 2, you paid Carolina Mfg. (account number C354) for inventory purchased on Apr. 27 for $1,000. Carolina Mfg. offered terms of 2/10, n/30. Use check #8024.
![Using the five journals as named here:
• Sales, Purchases, Cash Receipts, Cash Disbursements, and General
Using the following as possible column header titles (for vendors use "Ref." and for customers use "Acct. No."):
• Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., or Ref.
And using the accounts listed below, complete the journal headings and record the journal entries for the following
transactions, which uses the perpetual inventory system:
Accounts Payable
Merchandise Inventory
Sales
Accounts
Purchases
Sales Discounts
Receivable
Sales Returns and
Cash
Purchase Discounts
Allowances
Cost of Goods
Purchase Returns and
Sales Tax Payable
Sold
Allowances
PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or
in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar
amount is needed, please use "$0" or if no information is provided, please use "None" - no quotation marks.
• On May 2, you paid Carolina Mfg. (account number C354) for inventory purchased on Apr. 27 for $1,000.
Carolina Mfg. offered terms of 2/10, n/30. Use check #8024.
• On May 6, paid Static Electrical $654 (account number S221). They repaired the fuse box in the maintenance
room. Use check #8025 and debit the Repairs and Maintenance account, #655.
• On May 8, used check #8026 to pay Maryland Company (account number M852) $1,700 for inventory
purchased on Apr. 25. Maryland offered terms of 2/10, n/30.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ba0bb6e-e2c2-4193-9e84-578f833b18f1%2Fa3b523b1-4ea2-47ad-ad16-6e7a9752d44d%2F0n4el_processed.png&w=3840&q=75)
Transcribed Image Text:Using the five journals as named here:
• Sales, Purchases, Cash Receipts, Cash Disbursements, and General
Using the following as possible column header titles (for vendors use "Ref." and for customers use "Acct. No."):
• Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., or Ref.
And using the accounts listed below, complete the journal headings and record the journal entries for the following
transactions, which uses the perpetual inventory system:
Accounts Payable
Merchandise Inventory
Sales
Accounts
Purchases
Sales Discounts
Receivable
Sales Returns and
Cash
Purchase Discounts
Allowances
Cost of Goods
Purchase Returns and
Sales Tax Payable
Sold
Allowances
PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or
in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar
amount is needed, please use "$0" or if no information is provided, please use "None" - no quotation marks.
• On May 2, you paid Carolina Mfg. (account number C354) for inventory purchased on Apr. 27 for $1,000.
Carolina Mfg. offered terms of 2/10, n/30. Use check #8024.
• On May 6, paid Static Electrical $654 (account number S221). They repaired the fuse box in the maintenance
room. Use check #8025 and debit the Repairs and Maintenance account, #655.
• On May 8, used check #8026 to pay Maryland Company (account number M852) $1,700 for inventory
purchased on Apr. 25. Maryland offered terms of 2/10, n/30.
![JOURNAL
Page 144
Purchase
Date
Account
Check No.
DR
CR
CR
2019
May
2
May
May
8](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ba0bb6e-e2c2-4193-9e84-578f833b18f1%2Fa3b523b1-4ea2-47ad-ad16-6e7a9752d44d%2Fkkztpc_processed.png&w=3840&q=75)
Transcribed Image Text:JOURNAL
Page 144
Purchase
Date
Account
Check No.
DR
CR
CR
2019
May
2
May
May
8
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