Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Finance & Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=411)
-   -   Prepare headings for a sales journal like the one in Exhibit 7.5. Journalize the Marc (https://www.askmehelpdesk.com/showthread.php?t=413393)

  • Nov 6, 2009, 02:06 PM
    twitch0420
    Prepare headings for a sales journal like the one in Exhibit 7.5. Journalize the Marc
    Hutton Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement
    Journal, and a general journal. The following transactions occur in the month of March:
    Mar. 2 Sold merchandise costing $300 to B. Fager for $450 cash, invoice no. 5703.
    5 Purchased $2,300 of merchandise on credit from Marsh Corp.
    7 Sold merchandise costing $800 to J. Dryer for $1,150, terms 210, n30, invoice no. 5704.
    8 Borrowed $8,000 cash by signing a note payable to the bank.
    12 Sold merchandise costing $200 to R. Land for $320, terms n30, invoice no. 5705.
    16 Received $1,127 cash from J. Dryer to pay for the purchase of March 7.
    19 Sold used store equipment for $900 cash to Malone, Inc.
    25 Sold merchandise costing $350 to T. Burton for $550, terms n30, invoice no. 5706.
    Prepare headings for a sales journal like the one in Exhibit 7.5. Journalize the March transactions that
    Should be recorded in this sales journal.
  • Nov 6, 2009, 02:12 PM
    twitch0420
    Redmon Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements
    Journal, and a general journal. The following transactions occur in the month of June.
    June 1 Purchased $8,100 of merchandise on credit from Vick, Inc. terms n30.
    8 Sold merchandise costing $900 on credit to R. Panke for $1,500 subject to a $30 sales discount
    If paid by the end of the month.
    14 Purchased $240 of store supplies from Poe Company on credit, terms n30.
    17 Purchased $260 of office supplies on credit from Rehmer Company, terms n30.
    24 Sold merchandise costing $400 to L. Barnett for $630 cash.
    28 Purchased store supplies from Piburn’s for $90 cash.
    29 Paid Vick, Inc. $8,100 cash for the merchandise purchased on June 1.
    Prepare headings for a purchases journal like the one in Exhibit 7.9. Journalize the June transactions
    That should be recorded in the purchases journal.
  • Nov 6, 2009, 04:41 PM
    pready

    See my other post.

  • All times are GMT -7. The time now is 02:42 PM.