[twitch0420]

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 2
10, n
30, 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 n
30, 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 n
30, 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.

[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 n
30.
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 n
30.
17 Purchased $260 of office supplies on credit from Rehmer Company, terms n
30.
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.

[pready]

See my other post.