Record the following transactions in the General Journal of KBC Decorating Co., making no of the following: • KBC operates out of Ontario, where HST is 13% Discounts are based on the pre-tax value All payments made by cheque, unless otherwise noted 20-- Mar. 1 Sold paint and supplies, $600, and wallpaper, $500, to K. Young Painting on terms of 2/10, n/30. Add 13% HST as usual. Sales Invoice #5. Paid rent for March, $2,500 plus HST, cheque #21. Paid electricity bill for February, $184 plus HST. Paid heating (gas) bill for February, $510 plus HST. Paid courier for the delivery of the goods to K. Young Painting, $45 plus HST. 3. 5. Paid phone bill, $188.50 plus HST. 11 Received payment from K. Young Painting on Invoice #5. This is invoice is being paid within the discount period. 12 Bought paint and supplies from Coleman Industries, $3,000 plus HST, on Invoice #4C dated March 11. Terms 2/10, n/30. 12 Paid courier for delivering to us the goods bought from Coleman Industries, $38 plus HST. 12 Sold wallpaper to Beavis & Sons, $570 plus HST, on terms n/30. Sales Invoice #6 15 Returned defective supplies to Coleman Industries on Invoice #407, $200 plus HST. The company has issued a credit note to us. 18 A couple of rolls of wallpaper sold to Beavis & Sons on the 12th are badly damaged. We issued credit note CN6 for $85 plus HST. 20 Made donation to the Cancer Society, $500, by cheque (tax exempt). 20 Bought paint and supplies, $3,500 plus HST, from Rainbow Supplies on Invoice #49, terms 1/10, n/30.

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Chapter1: Financial Statements And Business Decisions
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Need general journal
Record the following transactions in the General Journal of KBC Decorating Co., making note
of the following:
• KBC operates out of Ontario, where HST is 13%
Discounts are based on the pre-tax value
All payments made by cheque, unless otherwise noted
Sold paint and supplies, $600, and wallpaper, $500, to K. Young Painting on terms
of 2/10, n/30. Add 13% HST as usual. Sales Invoice #5.
Paid rent for March, $2,500 plus HST, cheque #21.
Paid electricity bill for February, $184 plus HST.
Paid heating (gas) bill for February, $510 plus HST.
Paid courier for the delivery of the goods to K. Young Painting, $45 plus HST.
20--
Мaг. 1
1
3.
Paid phone bill, $188.50 plus HST.
11 Received payment from K. Young Painting on Invoice #5. This is invoice is being paid
within the discount period.
12 Bought paint and supplies from Coleman Industries, $3,000 plus HST, on Invoice #407
dated March 11. Terms 2/10, n/30.
12 Paid courier for delivering to us the goods bought from Coleman Industries, $38 plus
HST.
12 Sold wallpaper to Beavis & Sons, $570 plus HST, on terms n/30. Sales Invoice #6
15 Returned defective supplies to Coleman Industries on Invoice #407, $200 plus HST.
The company has issued a credit note to us.
18 A couple of rolls of wallpaper sold to Beavis & Sons on the 12th are badly damaged.
We issued credit note CN6 for $85 plus HST.
20 Made donation to the Cancer Society, $500, by cheque (tax exempt).
20 Bought paint and supplies, $3,500 plus HST, from Rainbow Supplies on Invoice #49,
terms 1/10, n/30.
Address
Transcribed Image Text:Record the following transactions in the General Journal of KBC Decorating Co., making note of the following: • KBC operates out of Ontario, where HST is 13% Discounts are based on the pre-tax value All payments made by cheque, unless otherwise noted Sold paint and supplies, $600, and wallpaper, $500, to K. Young Painting on terms of 2/10, n/30. Add 13% HST as usual. Sales Invoice #5. Paid rent for March, $2,500 plus HST, cheque #21. Paid electricity bill for February, $184 plus HST. Paid heating (gas) bill for February, $510 plus HST. Paid courier for the delivery of the goods to K. Young Painting, $45 plus HST. 20-- Мaг. 1 1 3. Paid phone bill, $188.50 plus HST. 11 Received payment from K. Young Painting on Invoice #5. This is invoice is being paid within the discount period. 12 Bought paint and supplies from Coleman Industries, $3,000 plus HST, on Invoice #407 dated March 11. Terms 2/10, n/30. 12 Paid courier for delivering to us the goods bought from Coleman Industries, $38 plus HST. 12 Sold wallpaper to Beavis & Sons, $570 plus HST, on terms n/30. Sales Invoice #6 15 Returned defective supplies to Coleman Industries on Invoice #407, $200 plus HST. The company has issued a credit note to us. 18 A couple of rolls of wallpaper sold to Beavis & Sons on the 12th are badly damaged. We issued credit note CN6 for $85 plus HST. 20 Made donation to the Cancer Society, $500, by cheque (tax exempt). 20 Bought paint and supplies, $3,500 plus HST, from Rainbow Supplies on Invoice #49, terms 1/10, n/30. Address
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