he following transactions occurred for Donaldson Inc. during the month of July. Jul. 1 Sold 50 items to Palm Springs Inc. and offered terms of 2/10, n/30, $4,000 on July 1, and issued invoice #12 on account number #312 Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,150 cash on July 5, and issued invoice #13 Jul. 8 Sold 30 what-is to Smith Mfg. for $5,000 and offered terms of 2/10, n/30; issued invoice #14 on account number #178 Jul. 9 Received payment from Palm Springs Inc. Jul. 22 Received payment from Smith Mfg. after expiration of the discount period A. Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger. SALES JOURNAL Page 22 Date Account Invoice No. Ref. DR Accts. Receivable CR Sales DR COGS CR Merchandise Inventory 2019 Jul. 1 Palm Springs Inc. (312) 12 2,000.00 Jul. 8 Smith Mfg (178) 14 2,500.00 ASH RECEIPTS JOURNAL Page 24 Date Account Invoice No. Ref. Cash DR Sales Discounts DR Accounts Receivable, Sales, or other accounts CR 2018 Jul. 5 Miami Inc. 13 Jul. 9 Palm Springs (312) Jul. 22 Smith Mfg (178) NAME Palm Spring Inc. 312 DATE DESCRIPTION POST REF. DEBIT CREDIT BALANCE 2019 July 1 Sale SJ22 9 Payment CR24 NAME Smith Mfg. 178 DATE DESCRIPTION POST REF. DEBIT CREDIT BALANCE 2019 July 8 Sale SJ22 9 Payment CR24

Financial & Managerial Accounting

14th Edition

ISBN:9781337119207

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter8: Receivables

Section: Chapter Questions

Problem 8.6APR: Sales and notes receivable transactions The following were selected from among the transactions...

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Chapter 7 p. 514 Problem Set A PA3

The following transactions occurred for Donaldson Inc. during the month of July.

Jul. 1 Sold 50 items to Palm Springs Inc. and offered terms of 2/10, n/30, $4,000 on July 1, and issued invoice #12 on account number #312
Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,150 cash on July 5, and issued invoice #13
Jul. 8 Sold 30 what-is to Smith Mfg. for $5,000 and offered terms of 2/10, n/30; issued invoice #14 on account number #178
Jul. 9 Received payment from Palm Springs Inc.
Jul. 22 Received payment from Smith Mfg. after expiration of the discount period

A. Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger.

SALES JOURNAL	*Page 22*
Date	Account	Invoice No.	Ref.	DR Accts. Receivable CR Sales	DR COGS CR Merchandise Inventory
2019
Jul. 1	Palm Springs Inc. (312)	12			2,000.00
Jul. 8	Smith Mfg (178)	14			2,500.00

ASH RECEIPTS JOURNAL	*Page 24*
Date	Account	Invoice No.	Ref.	Cash DR	Sales Discounts DR	Accounts Receivable, Sales, or other accounts CR
2018
Jul. 5	Miami Inc.	13
Jul. 9	Palm Springs (312)
Jul. 22	Smith Mfg (178)

NAME	Palm Spring Inc.		312
	DATE	DESCRIPTION	POST REF.	DEBIT	CREDIT	BALANCE

	2019
	July	1	Sale	SJ22
		9	Payment	CR24


NAME	Smith Mfg.		178
	DATE	DESCRIPTION	POST REF.	DEBIT	CREDIT	BALANCE

	2019
	July	8	Sale	SJ22
		9	Payment	CR24

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