The following transactions occurred for Donaldson Inc. during the month of July. Jul. 1 Sold 50 items to Palm Springs Inc. and offered terms of 2/10, n/30, $4,000 on July 1, and issued invoice #12 on account number #312 Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,150 cash on July 5, and issued invoice #13 Jul. 8 Sold 30 what-is to Smith Mfg. for $5,000 and offered terms of 2/10, n/30; issued invoice #14 on account number #178 Jul. 9 Received payment from Palm Springs Inc. Jul. 22 Received payment from Smith Mfg. after expiration of the discount period Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger. SALES JOURNAL Page 22 Date Account Invoice No. Ref. DR Accts. Receivable CR Sales DR COGS CR Merchandise Inventory 2019 Jul. 1 Palm Springs Inc. (312) 12 ???? 2,000.00 Jul. 8 Smith Mfg (178) 14 ???? 2,500.00 Date Account Invoice No. Ref. Cash DR Sales Discounts DR Accounts Receivable, Sales, or other accounts CR 2018 Jul. 5 Miami Inc. 13 ??? ???? Jul. 9 Palm Springs (312) ??? ??? ???? Jul. 22 Smith Mfg (178) ??? ???? NAME Palm Spring Inc. 312 DATE DESCRIPTION POST REF. DEBIT CREDIT BALANCE 2019 July 1 SJ22 Sale ??? ??? 9 CR24 Payment ???? ???? NAME Smith Mfg. 178 DATE DESCRIPTION POST REF. DEBIT CREDIT BALANCE 2019 July 8 SJ22 Sale ??? ??? 9 CR24 Payment ??? ????
Chapter 7 p. 514 Problem Set A PA3
The following transactions occurred for Donaldson Inc. during the month of July.
Jul. 1 Sold 50 items to Palm Springs Inc. and offered terms of 2/10, n/30, $4,000 on July 1, and issued invoice #12 on account number #312
Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,150 cash on July 5, and issued invoice #13
Jul. 8 Sold 30 what-is to Smith Mfg. for $5,000 and offered terms of 2/10, n/30; issued invoice #14 on account number #178
Jul. 9 Received payment from Palm Springs Inc.
Jul. 22 Received payment from Smith Mfg. after expiration of the discount period
- Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger.
|
SALES JOURNAL |
Page 22 |
||||
|
Date |
Account |
Invoice No. |
Ref. |
DR Accts. Receivable CR Sales |
DR COGS CR Merchandise Inventory |
|
2019 |
|
|
|
|
|
|
Jul. 1 |
Palm Springs Inc. (312) |
12 |
|
???? |
2,000.00 |
|
Jul. 8 |
Smith Mfg (178) |
14 |
|
???? |
2,500.00 |
|
Date |
Account |
Invoice No. |
Ref. |
Cash DR |
Sales Discounts DR |
|
|
2018 |
|
|
|
|
|
|
|
Jul. 5 |
Miami Inc. |
13 |
|
??? |
|
???? |
|
Jul. 9 |
Palm Springs (312) |
|
|
??? | ??? | ???? |
|
Jul. 22 |
Smith Mfg (178) |
|
|
??? |
|
???? |
|
NAME |
Palm Spring Inc. |
312 |
|
|||||
|
|
DATE |
DESCRIPTION |
POST |
DEBIT |
CREDIT |
BALANCE |
||
|
|
2019 |
|
|
|
|
|
|
|
|
|
July |
1 SJ22 |
Sale |
??? |
|
??? |
|
|
|
|
|
9 CR24 |
Payment |
|
???? |
???? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
NAME |
Smith Mfg. |
178 |
|
|||||
|
|
DATE |
DESCRIPTION |
POST |
DEBIT |
CREDIT |
BALANCE |
||
|
|
2019 |
|
|
|
|
|
|
|
|
|
July |
8 SJ22 |
Sale |
??? |
|
??? |
|
|
|
|
|
9 CR24 |
Payment |
|
??? |
???? |
|
|
|
|
|
|
|
|
|
|
|
|
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 4 images
