Record the following 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. 8 Bought an $18,000 truck from Pillner Co., paying $3,000 down; balance on account. 13 Purchased $2,611 of merchandise for cash from Pillner and Co. 15 Paid for the August 6 purchase of merchandise from Johnston Co. 17 Purchased $1,743 of merchandise from Luis Co. Credit terms 2/10, n/30. If an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Record the following 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.

8

Bought an $18,000 truck from Pillner Co., paying $3,000 down; balance on account.

13

Purchased $2,611 of merchandise for cash from Pillner and Co.

15

Paid for the August 6 purchase of merchandise from Johnston Co.

17

Purchased $1,743 of merchandise from Luis Co. Credit terms 2/10, n/30.

If an amount box does not require an entry, leave it blank.

### Account Ledger Template

**Page: 1**

This is a template for recording financial transactions, typically used in accounting to keep track of debits and credits associated with various accounts. Below is a detailed description of each section:

1. **Date Column**:
   - This column records the dates of transactions.
   - Entries are made from August 6th to August 17th.

2. **Account Title Column**:
   - This column is used for listing the titles of accounts involved in the transactions.
   - Each entry has a dropdown menu, indicated by a downward arrow, suggesting a selection of account titles.

3. **Document Number and Post Reference Column**:
   - This section is reserved for noting document numbers and references that support or verify the transactions documented.
   - Currently, this area is blank, indicating it is ready for input.

4. **Debit and Credit Columns**:
   - These columns record the amounts associated with each transaction, determining the financial impact on corresponding accounts.
   - It is organized with space to input both debit and credit amounts for each transaction line.
   - The current template is entirely blank, awaiting the entry of financial data.

5. **Row Number**:
   - Each row corresponds to a specific transaction and is numbered 1 through 12.
   - This aids in easily referencing or cross-referencing data entries.

This template serves as an essential tool for accountants or individuals managing finances, ensuring each transaction is accurately recorded and traceable.
Transcribed Image Text:### Account Ledger Template **Page: 1** This is a template for recording financial transactions, typically used in accounting to keep track of debits and credits associated with various accounts. Below is a detailed description of each section: 1. **Date Column**: - This column records the dates of transactions. - Entries are made from August 6th to August 17th. 2. **Account Title Column**: - This column is used for listing the titles of accounts involved in the transactions. - Each entry has a dropdown menu, indicated by a downward arrow, suggesting a selection of account titles. 3. **Document Number and Post Reference Column**: - This section is reserved for noting document numbers and references that support or verify the transactions documented. - Currently, this area is blank, indicating it is ready for input. 4. **Debit and Credit Columns**: - These columns record the amounts associated with each transaction, determining the financial impact on corresponding accounts. - It is organized with space to input both debit and credit amounts for each transaction line. - The current template is entirely blank, awaiting the entry of financial data. 5. **Row Number**: - Each row corresponds to a specific transaction and is numbered 1 through 12. - This aids in easily referencing or cross-referencing data entries. This template serves as an essential tool for accountants or individuals managing finances, ensuring each transaction is accurately recorded and traceable.
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