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 Jun. 1, credit sale (invoice #1) to Green Lantern Inc. (acc #101) for $1,999, for inventory costing $876. On Jun. 2, credit sale (invoice #2) to Wonder Woman Inc. (acc #102) for $2,000, for inventory costing $1,234. On Jun. 3, credit sale to Black Panther Inc. (invoice #3) (acc #103) for $3,050, for inventory costing $2,198. _______________ JOURNAL   Date, __________,  _____________,  ___________,  ____________ DR, _____________ DR, _____________CR, ____________CR 2019 June 1 ___________, ____________, _____________, ______________, ___________ June 2___________, ____________, _____________, ______________, ___________ June 3 ___________, ____________, _____________, ______________, ___________

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5PA: Brown Inc. records purchases in a purchases journal and purchase returns in the general journal....
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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 Jun. 1, credit sale (invoice #1) to Green Lantern Inc. (acc #101) for $1,999, for inventory costing $876.
  • On Jun. 2, credit sale (invoice #2) to Wonder Woman Inc. (acc #102) for $2,000, for inventory costing $1,234.
  • On Jun. 3, credit sale to Black Panther Inc. (invoice #3) (acc #103) for $3,050, for inventory costing $2,198.

_______________ JOURNAL

 

Date, __________,  _____________,  ___________,  ____________ DR, _____________ DR, _____________CR, ____________CR

2019

June 1 ___________, ____________, _____________, ______________, ___________

June 2___________, ____________, _____________, ______________, ___________

June 3 ___________, ____________, _____________, ______________, ___________

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