Journalizing Cash Payments Transactions Enter the following cash payments transactions in a general journal: Sept. 5 Issued Check No. 318 to Whittle Corp. for merchandise purchased August 28, $5,000, terms 2/10, n/30. Payment is made within the discount period. 12 Issued Check No. 319 to Martin Company for merchandise purchased September 2, $8,500, terms 1/10, n/30. A credit memo had been received on September 8 from Martin Company for merchandise returned, $400. Payment is made within the discount period after deduction for the return dated September 8. 19 Issued Check No. 320 to Cloud Systems for merchandise purchased August 20, $6,100, terms n/30. 27 Issued Check No. 321 to Dynamic Data for merchandise purchased September 17, $7,000, terms 2/10, n/30. Payment is made within the discount period. If an amount box does not require an entry, leave it blank. Page: 16 DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20-- Sept. 5 1 2 2 3 3 4 Check No. 318 4 5 12 5 6 6 7 7 8 Check No. 319 8 9 19 9 10 10 11 Check No. 320 11 12 27 12 13 13 14 14 15 Check No. 321 15 How do you journalize this situation? Please explain the process so I can understand how to work out these situations.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter11: Accounting For Purchases And Cash Payments

Section: Chapter Questions

Problem 10SPB: CASH PAYMENTS TRANSACTIONS Kay Zembrowski operates a retail variety store. The books include a...

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Journalizing Cash Payments Transactions

Enter the following cash payments transactions in a general journal:

Sept. 5	Issued Check No. 318 to Whittle Corp. for merchandise purchased August 28, $5,000, terms 2/10, n/30. Payment is made within the discount period.
12	Issued Check No. 319 to Martin Company for merchandise purchased September 2, $8,500, terms 1/10, n/30. A credit memo had been received on September 8 from Martin Company for merchandise returned, $400. Payment is made within the discount period after deduction for the return dated September 8.
19	Issued Check No. 320 to Cloud Systems for merchandise purchased August 20, $6,100, terms n/30.
27	Issued Check No. 321 to Dynamic Data for merchandise purchased September 17, $7,000, terms 2/10, n/30. Payment is made within the discount period.

If an amount box does not require an entry, leave it blank.

Page: 16

	DATE	ACCOUNT TITLE
1	20-- Sept. 5		1
2			2
3			3
4		Check No. 318	4
5	12		5
6			6
7			7
8		Check No. 319	8
9	19		9
10			10
11		Check No. 320	11
12	27		12
13			13
14			14
15		Check No. 321	15

How do you journalize this situation? Please explain the process so I can understand how to work out these situations.

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