[Kcchiefs88]

I am struggling to complete a project that is due Monday. I have done all my transactions and cannot find where I am out of balance. I have several transactions that I'm not sure I completed right. Please take a look and tell me what I have done wrong. Any help would be greatly appriecated

I am to post to these transactions to the different special journals (sales, Cash Receipts, Purchase, Cash Payment and General) for Adams Co for the month of May.

May 2 Adams Co issues a $175 credit memo to Camo Co for defective merchandise sold on April 28 and returned for credit.

I posted this to the general journal as this a debit to Merchandise Inventory and a Credit to Cost of Good Sold.

May 3 Adams Co receives a $798 credit memo from Fite Co for the return of merchandise purchased on April 29.

I posted this to the general journal as this a debit to Accounts Payable and a credit to Merchandise Inventory.

May 12 Adams Co receives a $854 credit memo from Nano Co for the return of defective office equipment received on May 10.

I posted this to the general journal as this a debit to Accounts Payable and a credit to Office Equipment.

May 15 Adams Co issues Check #6548, payable to Payroll, in payment of sales salaries, $5,320, and office salaries, $3,150. Cashed the check and paid the employees.

I posted this to the Cash Disbursement Journal as this a debit to other accounts and a credit to Cash. Do I need to make an entry for the 2nd part? If so what?

THANKS!!

[neno2000]

In any return goods the below should be JV :

DR / Sales return
CR / A-R

DR / Inventory
CR / COGS

If my company retrun good to supplier JV will be :

DR / A-P
CR / Invetory