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 perpetual 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 Feb. 2, purchased inventory on account from Pinetop Inc. (vendor account number 3765), Purchase Order (PO) # 12345 in the amount of $3,456. On Feb. 8, purchased inventory on account from Sherwood Company (vendor account number 5461), PO# 12346, in the amount of $2,951. On Feb. 12, purchased inventory on account from Green Valley Inc. (vendor #4653), PO# 12347, in the amount of $4,631. _______ JOURNAL Date, , _, _, __ DR, _ CR 2019 Feb. 2 _, __, _, __, _ Feb. 8 _, , _, __, _ Feb. 12 _, , _, , ___

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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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 perpetual 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 Feb. 2, purchased inventory on account from Pinetop Inc. (vendor account number 3765), Purchase Order (PO) # 12345 in the amount of $3,456.
On Feb. 8, purchased inventory on account from Sherwood Company (vendor account number 5461), PO# 12346, in the amount of $2,951.
On Feb. 12, purchased inventory on account from Green Valley Inc. (vendor #4653), PO# 12347, in the amount of $4,631.

_______________ JOURNAL

Date, __________, _____________, ___________, ____________ DR, _____________ CR

2019

Feb. 2 ___________, ____________, _____________, ______________, ___________

Feb. 8 ___________, ____________, _____________, ______________, ___________

Feb. 12 ___________, ____________, _____________, ______________, ___________

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