Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and General Using the following as possible column header titles (for vendors use "Ref." and for customers use "Acct. No."): • 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" or if no information is provided, please use "None" - 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 Ic., 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 $2,198. JOURNAL Page 124 or Date DR DR (or other accounts) CR 2019 Jul. 5 Jul. 9 Jul. 22
Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and General Using the following as possible column header titles (for vendors use "Ref." and for customers use "Acct. No."): • Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None And using the accounts listed below, record journal entries for the following transactions, which uses the periodic inventory system: Accounts Payable Merchandise Inventory Sales Accounts Purchases Sales Discounts Receivable Sales Returns and Cash Purchase Discounts Allowances Purchase Returns and Cost of Goods Sold Sales Tax Payable Allowances PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" or if no information is provided, please use "None" - 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 Ic., 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 $2,198. JOURNAL Page 124 or Date DR DR (or other accounts) CR 2019 Jul. 5 Jul. 9 Jul. 22
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Using the five journals as named here:
• Sales, Purchases, Cash Receipts, Cash Disbursements, and General
Using the following as possible column header titles (for vendors use "Ref." and for customers use "Acct. No."):
• Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None
And using the accounts listed below, record journal entries for the following transactions, which uses the periodic inventory system:
Accounts Payable
Merchandise Inventory
Sales
Accounts
Purchases
Sales Discounts
Receivable
Sales Returns and
Cash
Purchase Discounts
Allowances
Purchase Returns and
Cost of Goods Sold
Sales Tax Payable
Allowances
PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be
with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" or if no information is provided, please use "None" - 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
Page 124
or
Date
DR
DR
(or other accounts)
CR
2019
Jul. 5
Jul. 9
Jul.
22
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