April Transactions: Apr. Issued Check No. 429 to Standard Industries for merchandise purchased March 27, $8,200, terms 2/10, n/30. Payment is made within the discount period. 19 Issued Check No. 430 to Finest Company for merchandise purchased April 10, $5,200, terms 1/10, n/30. A credit memo had been received on April 12 from Finest Company for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated April 12. 21 Issued Check No. 431 to Funny Follies for merchandise purchased March 22, $3,250, terms n/30. 29 Issued Check No. 432 to Classic Data for merchandise purchased April 20, $6,900, terms 2/10, n/30. Payment is made within the discount period. Required: Enter the cash payments transactions in a general journal.

April Transactions: Apr. Issued Check No. 429 to Standard Industries for merchandise purchased March 27, $8,200, terms 2/10, n/30. Payment is made within the discount period. 19 Issued Check No. 430 to Finest Company for merchandise purchased April 10, $5,200, terms 1/10, n/30. A credit memo had been received on April 12 from Finest Company for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated April 12. 21 Issued Check No. 431 to Funny Follies for merchandise purchased March 22, $3,250, terms n/30. 29 Issued Check No. 432 to Classic Data for merchandise purchased April 20, $6,900, terms 2/10, n/30. Payment is made within the discount period. Required: Enter the cash payments transactions in a general journal.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter12: Special Journals

Section: Chapter Questions

Problem 11SPA

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Similar questions

Enter the following transactions in a cash payments journal like the one illustrated in the chapter: Aug. 2 Issued Check No. 193 in payment of August rent (Rent Expense), 2,200. 6 Issued Check No. 194 to Mason Hardware in payment of merchandise purchased on account, 1,700, less 2% discount. The check was written for 1,666. 10 Issued Check No. 195 to Augies Wholesale for cash purchase of merchandise, 2,730.
CASH PAYMENTS TR ANS ACTIONS Sam Santiago operates a retail variety store. The books include a general journal and an accounts payable ledger. Selected account balances on May 1 are as follows: The following are the transactions related to cash payments for the month of May: May 1Issued Check No. 426 in payment of May rent (Rent Expense), 2,400. 3Issued Check No. 427 to Muellers Distributors in payment of merchandise purchased on account, 3,600, less a 3% discount. Check was written for 3,492. 7Issued Check No. 428 to Van Kooning in partial payment of merchandise purchased on account, 5,500. A cash discount was not allowed. 12Issued Check No. 429 to Fantastic Toys for merchandise purchased on account, 5,200, less a 1% discount. Check was written for 5,148. 15Issued Check No. 430 to City Power and Light (Utilities Expense), 1,720. 18Issued Check No. 431 to A-1 Warehouse for a cash purchase of merchandise, 4,800. 26Issued Check No. 432 to Goya Outlet for merchandise purchased on account, 3,800, less a 2% discount. Check was written for 3,724. 30Issued Check No. 433 to Mercury Transit Company for freight charges on merchandise purchased (Freight-In), 1,200. 31Issued Check No. 434 to Town Merchants for a cash purchase of merchandise, 3,000. Required 1. Enter the transactions starting with page 9 of a general journal. 2. Post from the general journal to the general ledger and the accounts payable ledger. Use general ledger account numbers as shown in the chapter.
Sandren Co. purchased inventory on credit from Acto Supply Co. for $4,000. Sandren Co. would record this transaction in the ________. A. general journal B. cash receipts journal C. cash disbursements journal D. purchases journal E. sales journal
CASH PAYMENTS TRANSACTIONS Kay Zembrowski operates a retail variety store. The books include a general journal and an accounts payable ledger. Selected account balances on May 1 are as follows: The following transactions are related to cash payments for the month of May: May 1Issued Check No. 326 in payment of May rent (Rent Expense), 2,600. 4Issued Check No. 327 to Cortez Distributors in payment of merchandise purchased on account, 4,200, less a 3% discount. Check was written for 4,074. 7Issued Check No. 328 to Indra Velga in partial payment of merchandise purchased on account, 6,200. A cash discount was not allowed. 11Issued Check No. 329 to Toy Corner for merchandise purchased on account, 4,600, less a 1% discount. Check was written for 4,554. 15Issued Check No. 330 to County Power and Light (Utilities Expense), 1,500. 19Issued Check No. 331 to Builders Warehouse for a cash purchase of merchandise, 3,500. 25Issued Check No. 332 to Troutman Outlet for merchandise purchased on account, 4,400, less a 2% discount. Check was written for 4,312. May 30Issued Check No. 333 to Rapid Transit Company for freight charges on merchandise purchased (Freight-In), 800. 31Issued Check No. 334 to City Merchants for a cash purchase of merchandise, 2,350. Required 1. Enter the transactions starting with page 9 of a general journal. 2. Post from the general journal to the general ledger and the accounts payable ledger. Use general ledger account numbers as shown in the chapter.
Prepare entries in general journal form to record the following: June 12Sold merchandise on account to K. Perrot; terms n/30; 1,740. July 12Received 740 in cash from K. Perrot and a 60-day, 7 percent note for 1,000, dated July 12. Aug. 17Discounted the note at the bank at 7.5 percent. Check Figure 8/17 Cash, 1006.61