Chapter B, Problem 28BP

Using the purchases, cash payments, and general journals

The general ledger of Finnish Lake Golf Shop includes the following selected accounts, along with their account numbers:

Transactions in December that affected purchases and cash payments were as follows:

Requirements

1. 1. Use the appropriate journal to record the preceding transactions in a purchases journal, a cash payments journal (omit the Check No. column), and a general journal. Finnish Lake Golf Shop records purchase returns in the general journal. The company uses the perpetual inventory system.
2. 2. Total each column of the special journals. Show that total debits equal total credits in each special journal.
3. 3. Show how postings would be made from the journals be writing the account numbers and check marks in the appropriate places in the journals.