Please solution in the table Sur Company began operations in January and completed these transactions during the month.Jan. 1- Purchased for cash OMR 4,000 of merchandise inventory, FOB Shipping point from TRQMerchandising CompanyJan. 2 - Purchased on account OMR 5,000 of merchandise inventory, terms 2/15, n 45, FOB Destinationfrom RST Trading Company.Jan. 5 - Sold for cash OMR 2,000 of merchandise inventory, FOB Shipping point with a cost of goods soldof OMR 1,200 to Bader CompanyJan. 8 - Sold on account OMR 1,000 of merchandise inventory, terms 3/10, n 30, FOB Destination with acost of goods sold of OMR 600 to Ali Company.Jan. 10 - Sales returns of OMR 200 of merchandise sold to Ali Company because of defects.Jan. 11 - Purchase returns of OMR 500 of merchandise to RST Trading due to damages in shipment.Jan. 15 - Paid RST Trading for the purchases made on account.Jan. 18 - Received payment from customer Ali Company for sold goods on account.Jan. 25 - Acquired land OMR 50,000 by issuing bonds.Jan. 30 - Paid the utility bill for OMR 300.Required:а.Enter the following transactions in the special journals.b. What is the purpose of special journals?

The company has began its operation in January and made the transactions that are to be recorded in…

Sur Company began operations in January and completed these transactions during Jan. 1- Purchased for cash OMR 4,000 of merchandise inventory, FOB Shipping point from TP Merchandising Company Jan. 2 - Purchased on account OMR 5,000 of merchandise inventory, terms 2/15, n 45, FOB D from RST Trading Company. Jan. 5 - Sold for cash OMR 2,000 of merchandise inventory, FOB Shipping point with a cost of of OMR 1,200 to Bader Company Jan. 8 - Sold on account OMR 1,000 of merchandise inventory, terms 3/10, n 30, FOB Destina cost of goods sold of OMR 600 to Ali Company. Jan. 10 - Sales returns of OMR 200 of merchandise sold to Ali Company because of defects. Jan. 11 - Purchase returns of OMR 500 of merchandise to RST Trading due to damages in ship Jan. 15 - Paid RST Trading for the purchases made on account. Jan. 18 - Received payment from customer Ali Company for sold goods on account. Jan. 25 - Acquired land OMR 50,000 by issuing bonds. Jan. 30 - Paid the utility bill for OMR 300. Required: а. Enter the following transactions in the special journals. b. What is the purpose of special journals?

Sur Company began operations in January and completed these transactions during Jan. 1- Purchased for cash OMR 4,000 of merchandise inventory, FOB Shipping point from TP Merchandising Company Jan. 2 - Purchased on account OMR 5,000 of merchandise inventory, terms 2/15, n 45, FOB D from RST Trading Company. Jan. 5 - Sold for cash OMR 2,000 of merchandise inventory, FOB Shipping point with a cost of of OMR 1,200 to Bader Company Jan. 8 - Sold on account OMR 1,000 of merchandise inventory, terms 3/10, n 30, FOB Destina cost of goods sold of OMR 600 to Ali Company. Jan. 10 - Sales returns of OMR 200 of merchandise sold to Ali Company because of defects. Jan. 11 - Purchase returns of OMR 500 of merchandise to RST Trading due to damages in ship Jan. 15 - Paid RST Trading for the purchases made on account. Jan. 18 - Received payment from customer Ali Company for sold goods on account. Jan. 25 - Acquired land OMR 50,000 by issuing bonds. Jan. 30 - Paid the utility bill for OMR 300. Required: а. Enter the following transactions in the special journals. b. What is the purpose of special journals?

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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