Question 2 Credit Sales, Credit Purchases & Returns You are to enter the following items in the books, post to personal accounts, and show the transfers to the General Ledger. 20X9 1 Credit purchases from: K Hill £380; M Norman £500; N Senior £106. 3 Credit sales to: E Rigby £510; E Phillips £246; F Thompson £356. 5 Credit purchases from: R Morton £200; J Cook £180; D Edwards £410; C Davies £66. 8 Credit sales to: A Green £307; H George £250; J Ferguson £185. 12 Returns outwards to: M Norman £30; N Senior £16. 14 Returns inwards from: E Phillips £18; F Thompson £22. 20 Credit sales to: E Phillips £188; F Powell £310; E Lee £420. 24 Credit purchases from: C Ferguson £550; K Ennevor £900. 31 Returns inwards from: E Phillips £27; E Rigby £30. 31 Returns outwards to: J Cook £13; C Davies £11. July %3D %D %3D Note : Apart from double entries in the Purchases/Sales Ledger/General Ledger, please also prepare Purchases Day Book, Sales Day Book, Return Inwards & Return Outwards Day Book.

Question 2 Credit Sales, Credit Purchases & Returns You are to enter the following items in the books, post to personal accounts, and show the transfers to the General Ledger. 20X9 1 Credit purchases from: K Hill £380; M Norman £500; N Senior £106. 3 Credit sales to: E Rigby £510; E Phillips £246; F Thompson £356. 5 Credit purchases from: R Morton £200; J Cook £180; D Edwards £410; C Davies £66. 8 Credit sales to: A Green £307; H George £250; J Ferguson £185. 12 Returns outwards to: M Norman £30; N Senior £16. 14 Returns inwards from: E Phillips £18; F Thompson £22. 20 Credit sales to: E Phillips £188; F Powell £310; E Lee £420. 24 Credit purchases from: C Ferguson £550; K Ennevor £900. 31 Returns inwards from: E Phillips £27; E Rigby £30. 31 Returns outwards to: J Cook £13; C Davies £11. July %3D %D %3D Note : Apart from double entries in the Purchases/Sales Ledger/General Ledger, please also prepare Purchases Day Book, Sales Day Book, Return Inwards & Return Outwards Day Book.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 7SEB: JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a...

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16.3 You are to enter up the sales, purchases, returns inwards and returns outwards day books from the following details, then to post the items to the relevant accounts in the sales and chase ledgers. The total of the day books are then to be transferred to the accounts in the General Ledger. 20X9 May 1 Credit sales: T Thompson f56; L Rodriguez £148; K Barton f145. 3 Credit purchases: P Potter £144; H Harris £25; B Spencer £76. 7 Credit sales: K Kelly £89; N Mendes £78; N Lee £257. 9 Credit purchases: B Perkins £24; H Harris £58; H Miles £123. 11 Goods returned by us to: P Potter £12; B 5pencer £22. 14 Goods returned to us by: T Thompson £5; K Barton £11; K Kelly £14. 17 Credit purchases: H Harris [54; B Perkins £65; L Nixon £75. Goods returned by us to B Spencer £14. 24 Credit sales: K Mohammed £57; K Kelly f65; O Green £112. Goods returned to us by N Mendes £24. 71 20 11 28 31 Credit sales: N Lee £55.
Smiling Sam's Warehouse made the journal entry shown in Figure 3.03 P in its Cash Payments Journal. What is the correct posting of this entry to the general ledger? CASH PAYMENTS JOURNAL Page 22 GENERAL POST ACCOUNTS PAYABLE DEBIT PURCHASES ACCOUNT TITLE CK, NO. DATE REF CASH DISCOUNT CREDIT DEBIT CREDIT CREDIT Apr. 4 Purchases 438 4001 978.00 978.00 Figure 3.03 P O Debit Cash, $978; credit Accounts Payable, $978 O Debit Purchases, $978; credit Accounts Payable $978 O Debit Purchases, $978; credit Cash, $978 O Debit Cash, $978; credit Purchases, $978 No answer text provided.
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Total Cash (Dr.) = Total Sales Discounts (Dr.) = Total Sales (Cr.) = Total Accounts Receivable (Cr.) = Total Notes Payable (Cr.)=
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JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is 3,900. Beginning balances in selected customer accounts are Adams, 850; Greene, 428; and Phillips, 1,018.
A buyer purchases $250 worth of goods on credit from a seller. Shipping charges are $50. The terms of the purchase are 2/10, n/30, FOB Destination. What, if any, journal entry or entries will the buyer record for these transactions?
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25) How is the total of the purchases daybook posted to the nominal ledger? A. Debit purchases, Credit payables control В. Debit payables control, Credit purchases С. Debit purchases, Credit cash D. Debit cash, Credit purchases
what is the gournal jeneral entry for: 1. credit sales 2. borrowed $2000 from BSP Bank
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