Feb. 5 Bought merchandise on account from Nancy Corporation, invoice no. A552, $752; terms net 30 days; dated January 3; FOB destination. Feb. 21 Bought merchandise on account from Allen Company, invoice no. 8545, $1,524.41; n/30; dated February 19; FOB shipping point, freight prepaid and added to the invoice, $150 (total $1,674.41).
Feb. 5 Bought merchandise on account from Nancy Corporation, invoice no. A552, $752; terms net 30 days; dated January 3; FOB destination. Feb. 21 Bought merchandise on account from Allen Company, invoice no. 8545, $1,524.41; n/30; dated February 19; FOB shipping point, freight prepaid and added to the invoice, $150 (total $1,674.41).
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 8E: Toby Company had the following sales transactions for March: Mar. 6Sold merchandise on account to...
Related questions
Question
- Feb. 5 Bought merchandise on account from Nancy Corporation, invoice no. A552, $752; terms net 30 days; dated January 3; FOB destination.
- Feb. 21 Bought merchandise on account from Allen Company, invoice no. 8545, $1,524.41; n/30; dated February 19; FOB shipping point, freight prepaid and added to the invoice, $150 (total $1,674.41).
If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.
PURCHASES JOURNAL | PAGE 65 | |||||||
---|---|---|---|---|---|---|---|---|
DATE |
SUPPLIER'S NAME |
INV NO. |
INV. DATE |
TERMS |
POST. REF. |
ACCOUNTS PAYABLE CR. |
FREIGHT IN DR. |
PURCHASES DR. |
20-- | ||||||||
Feb. 5 | Nancy Corp. | A552 | 1/3 | n/30 | fill in the blank 1 | fill in the blank 2 | fill in the blank 3 | |
Feb. 21 | Allen Company | 8545 | 2/19 | n/30 | fill in the blank 4 | fill in the blank 5 | fill in the blank 6 | |
Feb. 28 | Totals | fill in the blank 7 | fill in the blank 8 | fill in the blank 9 | ||||
(212) | (514) | (511) |
GENERAL LEDGER | ||||||
---|---|---|---|---|---|---|
ACCOUNT | Accounts Payable | ACCOUNT NO. | 212 | |||
BALANCE | ||||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | DEBIT | CREDIT |
20-- | ||||||
Feb 28 | P65 | fill in the blank 10 | fill in the blank 11 | fill in the blank 12 | fill in the blank 13 |
GENERAL LEDGER | ||||||
---|---|---|---|---|---|---|
ACCOUNT | Purchases | ACCOUNT NO. | 511 | |||
BALANCE | ||||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | DEBIT | CREDIT |
20-- | ||||||
Feb. 28 | P65 | fill in the blank 14 | fill in the blank 15 | fill in the blank 16 | fill in the blank 17 |
GENERAL LEDGER | ||||||
---|---|---|---|---|---|---|
ACCOUNT | Freight In | ACCOUNT NO. | 514 | |||
BALANCE | ||||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | DEBIT | CREDIT |
20-- | ||||||
Feb. 28 | P65 | fill in the blank 18 | fill in the blank 19 | fill in the blank 20 | fill in the blank 21 |
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