Tim Simpleton owns a varlety store called Tiny Tim Center. Joumalize the following purchases of Inventory, returns, and discounts for the month of Novermber. Use the gross-price met Purchased $4,000 of merchandise from Hilltop Caterers on account, Involce 1234, with a 10% trade discount. Credit terms 2/10o, n/30. Pald rent for the month of November. Issued Check 5142 for $1,400. Purchased merchandise from Owen's Supply Co. Issued Check 5143 for $1,750. Nov. 1 1 5 Purchased $3,400 of merchandise from Seaside Co. on account, Involce 7438. Credit terms 1/15, n/30. Returned $500 of the merchandise from Seaside Co. Recelved Credit Memo 131. 10 11 Pald Involce 1234 to Hillitop Caterers. Issued Check 5144 for $3,528. Purchased $4,700 of merchandise (Included $200 freight) from Winding willow Co. on account, Involce 5139. Credit terms 3/15, n/30, FOB shipping polnt. Purchased $320 of office supplies from Turnkey Co. on account, Involce 8320. 12 17 Credit terms 2/10, n/30. Pald Involce 7438 to Seaside Co. Issued Check 5145 for $2,871. 22 27 Pald Involce 5139 to Winding willow Co. Issued Check 5146 for $4,565. If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. Nov. 1 2. 3 Nov. 1 Nov. 5 6. 7 Nov. 7 6. Nov. 10 6. 10 10 11 Nov. 11 11 12 12 13 13 14 Nov. 12 14 15 15 check My Work Imore Chock My Work uses renanng 4.
Tim Simpleton owns a varlety store called Tiny Tim Center. Joumalize the following purchases of Inventory, returns, and discounts for the month of Novermber. Use the gross-price met Purchased $4,000 of merchandise from Hilltop Caterers on account, Involce 1234, with a 10% trade discount. Credit terms 2/10o, n/30. Pald rent for the month of November. Issued Check 5142 for $1,400. Purchased merchandise from Owen's Supply Co. Issued Check 5143 for $1,750. Nov. 1 1 5 Purchased $3,400 of merchandise from Seaside Co. on account, Involce 7438. Credit terms 1/15, n/30. Returned $500 of the merchandise from Seaside Co. Recelved Credit Memo 131. 10 11 Pald Involce 1234 to Hillitop Caterers. Issued Check 5144 for $3,528. Purchased $4,700 of merchandise (Included $200 freight) from Winding willow Co. on account, Involce 5139. Credit terms 3/15, n/30, FOB shipping polnt. Purchased $320 of office supplies from Turnkey Co. on account, Involce 8320. 12 17 Credit terms 2/10, n/30. Pald Involce 7438 to Seaside Co. Issued Check 5145 for $2,871. 22 27 Pald Involce 5139 to Winding willow Co. Issued Check 5146 for $4,565. If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. Nov. 1 2. 3 Nov. 1 Nov. 5 6. 7 Nov. 7 6. Nov. 10 6. 10 10 11 Nov. 11 11 12 12 13 13 14 Nov. 12 14 15 15 check My Work Imore Chock My Work uses renanng 4.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Tim Simpleton owns a varlety store called Tiny Tim Center. Joumaltze the following purchases of Inventory, returns, and discounts for the month of November. Use the gross-price meth
Nov. 1
Purchased $4,000 of merchandise from Hilltop Caterers on aCount, Involce 1234,
with a 10% trade dscount. Credit terms 2/10, n/30.
Pald rent for the month of November. Issued Check 5142 for $1,400.
Purchased merchandise from Owen's Supply Co. Issued Check 5143 for $1,750.
Purchased $3,400 of merchandise from Seaslde Co. on account, Involce 7438.
Credit terms 1/15, n/30.
Returned $500 of the merchandise from Seaside Co. Recelved Credit Memo 131.
Pald Involce 1234 to Hlltop Caterers. Issued Check 5144 for $3,528.
Purchased $4,700 of merchandise (Included $200 freight) from WInding Willow Co.
on account, Involce 5139. Credit terms 3/15, n/30, FOB shlping polnt.
10
11
12
17
Purchased $320 of office supplies from Turnkey Co. on account, Involce 8320.
Credit terms 2/10, n/30.
Pald Involce 7438 to Seaside Co. Issued Check 5145 for $2,871.
Pald Involce 5139 to Winding Willow Co. Issued Check 5146 for $4,565.
22
27
If an amount box does not require an entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT CREDIT
REF.
1
1 Nov. 1
3 Nov. 1
3.
4
Nov. 5
6.
7 Nov. 7
6.
9 Nov. 10
10
10
11 Nov. 11
11
12
12
13
13
14 Nov. 12
14
15
15
check My Work Imore Chock My Work uses rananng
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