Oriole Company has the following selected transactions during March. Mar. 2 Purchased equipment costing $7,280 from Bole Company on account. 5 Received credit of $530 from Carwell Company for merchandise damaged in shipment to Oriole. 7 Issued credit of $420 to Dempsey Company for merchandise the customer returned. The returned merchandise had a cost of $250. Oriole Company uses a single-column purchases journal, a sales journal, the columnar cash journals used in the text, and a general journal. (a) Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction date Mar. 2Mar. 5Mar. 7 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Mar. 2Mar. 5Mar. 7 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Mar. 2Mar. 5Mar. 7 enter an account title to record merchandise returned enter a debit amount enter a credit amount enter an account title to record merchandise returned enter a debit amount enter a credit amount (To record merchandise returned.) choose a transaction date Mar. 2Mar. 5Mar. 7 enter an account title to record the cost of merchandise returned enter a debit amount enter a credit amount enter an account title to record the cost of merchandise returned enter a debit amount enter a credit amount (To record the cost of merchandise returned.)

Oriole Company has the following selected transactions during March. Mar. 2 Purchased equipment costing $7,280 from Bole Company on account. 5 Received credit of $530 from Carwell Company for merchandise damaged in shipment to Oriole. 7 Issued credit of $420 to Dempsey Company for merchandise the customer returned. The returned merchandise had a cost of $250. Oriole Company uses a single-column purchases journal, a sales journal, the columnar cash journals used in the text, and a general journal. (a) Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction date Mar. 2Mar. 5Mar. 7 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Mar. 2Mar. 5Mar. 7 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Mar. 2Mar. 5Mar. 7 enter an account title to record merchandise returned enter a debit amount enter a credit amount enter an account title to record merchandise returned enter a debit amount enter a credit amount (To record merchandise returned.) choose a transaction date Mar. 2Mar. 5Mar. 7 enter an account title to record the cost of merchandise returned enter a debit amount enter a credit amount enter an account title to record the cost of merchandise returned enter a debit amount enter a credit amount (To record the cost of merchandise returned.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Oriole Company has the following selected transactions during March.

Mar. 2		Purchased equipment costing $7,280 from Bole Company on account.
5		Received credit of $530 from Carwell Company for merchandise damaged in shipment to Oriole.
7		Issued credit of $420 to Dempsey Company for merchandise the customer returned. The returned merchandise had a cost of $250.

Oriole Company uses a single-column purchases journal, a sales journal, the columnar cash journals used in the text, and a general journal.

(a)

Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Mar. 2Mar. 5Mar. 7	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 2Mar. 5Mar. 7	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 2Mar. 5Mar. 7	enter an account title to record merchandise returned	enter a debit amount	enter a credit amount
	enter an account title to record merchandise returned	enter a debit amount	enter a credit amount
	(To record merchandise returned.)
choose a transaction date Mar. 2Mar. 5Mar. 7	enter an account title to record the cost of merchandise returned	enter a debit amount	enter a credit amount
	enter an account title to record the cost of merchandise returned	enter a debit amount	enter a credit amount
	(To record the cost of merchandise returned.)

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