Using the five journals as named here: Sales, Purchases, Cash Receipts, Cash Disbursements, and General and using the following as possible column header titles: Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None and using the accounts listed below, record journal entries for the following transactions, which uses the periodic inventory system: Accounts Payable Merchandise Inventory Sales Accounts Receivable Purchases Sales Discounts Cash Purchase Discounts Sales Returns and Allowances Cost of Goods Sold Purchase Returns and Allowances Sales Tax Payable PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks. On Jul. 5, sold 20 thing-a-jigs to Miami Inc. for $2,150 cash and issued invoice #13, for inventory costing $945. On Jul. 9, received payment from Palm Springs Inc., who bought 50 items for $4,000 on July 1 with terms of 2/10, n/30 on account number #312, for inventory costing $2,460. On Jul. 22, received payment from Smith Mfg., who bought 30 items for $5,000 on July 8 with terms 2/10 n/30 on account #178, for inventory costing $2,198.
Using the five journals as named here: Sales, Purchases, Cash Receipts, Cash Disbursements, and General and using the following as possible column header titles: Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None and using the accounts listed below, record journal entries for the following transactions, which uses the periodic inventory system: Accounts Payable Merchandise Inventory Sales Accounts Receivable Purchases Sales Discounts Cash Purchase Discounts Sales Returns and Allowances Cost of Goods Sold Purchase Returns and Allowances Sales Tax Payable PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks. On Jul. 5, sold 20 thing-a-jigs to Miami Inc. for $2,150 cash and issued invoice #13, for inventory costing $945. On Jul. 9, received payment from Palm Springs Inc., who bought 50 items for $4,000 on July 1 with terms of 2/10, n/30 on account number #312, for inventory costing $2,460. On Jul. 22, received payment from Smith Mfg., who bought 30 items for $5,000 on July 8 with terms 2/10 n/30 on account #178, for inventory costing $2,198.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
Using the five journals as named here:
- Sales, Purchases, Cash Receipts, Cash Disbursements, and General
and using the following as possible column header titles:
- Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None
and using the accounts listed below, record
Accounts Payable | Merchandise Inventory | Sales |
Purchases | Sales Discounts | |
Cash | Purchase Discounts | Sales Returns and Allowances |
Cost of Goods Sold | Purchase Returns and Allowances | Sales Tax Payable |
PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks.
- On Jul. 5, sold 20 thing-a-jigs to Miami Inc. for $2,150 cash and issued invoice #13, for inventory costing $945.
- On Jul. 9, received payment from Palm Springs Inc., who bought 50 items for $4,000 on July 1 with terms of 2/10, n/30 on account number #312, for inventory costing $2,460.
- On Jul. 22, received payment from Smith Mfg., who bought 30 items for $5,000 on July 8 with terms 2/10 n/30 on account #178, for inventory costing $2,198.
JOURNAL |
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Page 124 |
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Date |
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DR |
or (or other accounts) CR |
2019 |
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Jul. 5 |
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Jul. 9 |
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Jul. 22 |
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
Transcribed Image Text:Sales
JOURNAL
Page 124
or
Date Invoice No.
DR
DR
(or other accounts)
CR
2019
Jul. 5
Jul. 9
Jul.
22

Transcribed Image Text:Using the five journals as named here:
Sales, Purchases, Cash Receipts, Cash Disbursements, and General
and using the following as possible column header titles:
• Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None
and using the accounts listed below, record journal entries for the following transactions, which uses the periodic inventory system:
Accounts Payable
Merchandise Inventory
Sales
Accounts
Purchases
Sales Discounts
Receivable
Sales Returns and
Cash
Purchase Discounts
Allowances
Purchase Returns and
Cost of Goods Sold
Sales Tax Payable
Allowances
PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and
all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks.
• On Jul. 5, sold 20 thing-a-jigs to Miami Inc. for $2,150 cash and issued invoice #13, for inventory costing $945.
• On Jul. 9, received payment from Palm Springs Inc., who bought 50 items for $4,000 on July 1 with terms of 2/10, n/30 on account number
#312, for inventory costing $2,460.
• On Jul. 22, received payment from Smith Mfg., who bought 30 items for $5,000 on July 8 with terms 2/10 n/30 on account #178, for
inventory costing $2,198.
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