Song, Inc. (seller), engaged in the following transactions during January 2019: Song, Inc. DATE TRANSACTIONS 2019 Jan. 8 Received payment of $2,058 on account from Bowden Company in payment of Invoice 1885 dated December 30, 2018, less cash discount of $42. 10 Sold merchandise for $1,550 on account to Bowden Company, Invoice 1920, terms 2/10, n/30. 15 Issued Credit Memorandum 320 to Bowden Company for damaged merchandise totaling $200 that was returned; the goods were purchased on Invoice 1920, dated January 10. 19 Received payment from Bowden Company for Invoice 1920 of January 10, less the return of January 15 and less the cash discount. 30 Sold merchandise for $3,300 to Bowden Company, Invoice 1950; terms 2/10, n/30. Required: Journalize the transactions above in a general journal for Song, Inc. No Date General Journal Debit Credit 1 Jan 08, 2019 2 Jan 10, 2019 3 Jan 15, 2019 4 Jan 19, 2019 5 Jan 30, 2019
Song, Inc. (seller), engaged in the following transactions during January 2019: Song, Inc. DATE TRANSACTIONS 2019 Jan. 8 Received payment of $2,058 on account from Bowden Company in payment of Invoice 1885 dated December 30, 2018, less cash discount of $42. 10 Sold merchandise for $1,550 on account to Bowden Company, Invoice 1920, terms 2/10, n/30. 15 Issued Credit Memorandum 320 to Bowden Company for damaged merchandise totaling $200 that was returned; the goods were purchased on Invoice 1920, dated January 10. 19 Received payment from Bowden Company for Invoice 1920 of January 10, less the return of January 15 and less the cash discount. 30 Sold merchandise for $3,300 to Bowden Company, Invoice 1950; terms 2/10, n/30. Required: Journalize the transactions above in a general journal for Song, Inc. No Date General Journal Debit Credit 1 Jan 08, 2019 2 Jan 10, 2019 3 Jan 15, 2019 4 Jan 19, 2019 5 Jan 30, 2019
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Song, Inc. (seller), engaged in the following transactions during January 2019:
Song, Inc.
| DATE | TRANSACTIONS | |
| 2019 | ||
| Jan. 8 | Received payment of $2,058 on account from Bowden Company in payment of Invoice 1885 dated December 30, 2018, less cash discount of $42. |
|
| 10 | Sold merchandise for $1,550 on account to Bowden Company, Invoice 1920, terms 2/10, n/30. |
|
| 15 | Issued Credit Memorandum 320 to Bowden Company for damaged merchandise totaling $200 that was returned; the goods were purchased on Invoice 1920, dated January 10. |
|
| 19 | Received payment from Bowden Company for Invoice 1920 of January 10, less the return of January 15 and less the cash discount. |
|
| 30 | Sold merchandise for $3,300 to Bowden Company, Invoice 1950; terms 2/10, n/30. |
|
Required:
- Journalize the transactions above in a general journal for Song, Inc.
| No | Date | General Journal | Debit | Credit |
|---|---|---|---|---|
| 1 | Jan 08, 2019 | |||
| 2 | Jan 10, 2019 | |||
| 3 | Jan 15, 2019 | |||
| 4 | Jan 19, 2019 | |||
| 5 | Jan 30, 2019 | |||
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