I need to know how to input these questions into a general journal and general ledger. The beginning balance on the ledger under 'A/P - Canola Products' is 60,000.May 3Received a credit memorandum from Canola Products for merchandise received on April 29 and that we returned for credit this morning. The amount of the return was:$1,000.00 May 8Issued cheque #3412 to Canola Products to pay for the merchandise received on April 29 (terms of the purchase had been 2/10 n/30). May 30Issued cheque # 3416, payable to Al's Delivery Services for the following transaction:- shipping cost for incoming merchandise $450.00 Thanks!

In general journal, regular day-to-day transactions are posted whereas from the general journal…

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College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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I need to know how to input these questions into a general journal and general ledger. The beginning balance on the ledger under 'A/P - Canola Products' is 60,000.

May 3	Received a credit memorandum from Canola Products for merchandise received on April 29 and that we returned for credit this morning.
	The amount of the return was:	$1,000.00

May 8

Issued cheque #3412 to Canola Products to pay for the merchandise received on April 29 (terms of the purchase had been 2/10 n/30).

May 30

Issued cheque # 3416, payable to Al's Delivery Services for the following transaction:

- shipping cost for incoming merchandise

$450.00

Thanks!

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