Record the foliowing transactions as general Journal entries. Use the gross-price method. Aug. 6 Purchased $830 of merchandise on account from Johnston Co. Credit terms 2/10, n/30. Bought an $18,000 truck from Pllner Co., paying $3,000 down; balance on account. Purchased $2,611 of merchandise for cash from Pilliner and Co. Pald for the August 6 purchase of merchandise from Johnston Co. Purchased $1,743 of merchandise from Luls Co. Credit terms 2/10, n/30. 13 15 17 If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. Page: 1 DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 1 Aug. 6 2 3 Aug. 8 4 4 5 6 Aug. 13 6 8 Aug. 15 8 10 10 11 11 Aug. 17 12 12 1. 2. 9.

Record the foliowing transactions as general Journal entries. Use the gross-price method. Aug. 6 Purchased $830 of merchandise on account from Johnston Co. Credit terms 2/10, n/30. Bought an $18,000 truck from Pllner Co., paying $3,000 down; balance on account. Purchased $2,611 of merchandise for cash from Pilliner and Co. Pald for the August 6 purchase of merchandise from Johnston Co. Purchased $1,743 of merchandise from Luls Co. Credit terms 2/10, n/30. 13 15 17 If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. Page: 1 DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 1 Aug. 6 2 3 Aug. 8 4 4 5 6 Aug. 13 6 8 Aug. 15 8 10 10 11 11 Aug. 17 12 12 1. 2. 9.

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Description: Main.do?invoker=&takeAssignmentsRecord the following transactons as general journal entries. Use the gross-price method.Aug. 6Purchased $830 of merchandise on account from Johnston Co. Credit terms 2/10,/30.Bought an $18,000 truck from Pillner Co.,

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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Caesar Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the sales journal. June 5 Purchased $3,800 of merchandise on credit from Roman Corp. 9 Sold merchandise costing $1,245 to R. Allen for $2,075, terms n/10, Invoice No. 2080. 12 Sold merchandise costing $690 to J. Meyer for $1,150 cash, Invoice No. 2081. 19 Received $2,075 cash from R. Allen to pay for the purchase of June 9. 27 Sold merchandise costing $875 to B. Kraft for Date Account Debited SALES JOURNAL Invoice Number $1,250, terms n/10, Invoice No. 2082. Accounts Receivable Dr. Sales Cr. Cost of Goods Sold Dr. Inventory Cr.
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Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Oct. 1 Purchased inventory on account from Price Inc. for $2,000. Oct. 3 Purchased inventory on account from Cabrera Inc. for $3,000. Oct. 8 Returned half of the inventory to Price Inc. Oct. 9 Purchased inventory on account from Price Inc. for $4,200. Record the above transactions using a purchases journal, a general journal, and an accounts payable subsidiary ledger. The company uses the periodic method of accounting for inventory. If an amount box does not require an entry, leave it blank. Page: 121 DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT 1 Oct. 8 Accounts Receivable-Cabrera Inc. Accounts Receivable-Cabrera Inc. 1 2 Accounts Payable-Price Inc. Accounts Payable-Price Inc. 2 PURCHASES JOURNAL Page: 113 Date Account PurchaseOrder No. Ref. MerchandiseInventory DR AccountsPayable CR 2019 Oct. 1 fill…
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