Journalizing Sales Returns and Allowances Selected transactions are shown. June 1 John B. Abramowitz returned merchandise previously purchased on account (Sale No. 329), $73. 6 Marie L. Perez returned merchandise previously purchased on account (Sale No. 321), $44. 8 L. B. Gruder returned merchandise previously purchased on account (Sale No. 299), $24. 1. Enter the transactions starting on page 60 of a general journal. Enter the posting references when you complete part 2. GENERAL JOURNAL PAGE 60 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- June 1 /√ Returned merchandise June 6 /√ Returned merchandise June 8 /√ Returned merchandise 2. Post the transactions to the appropriate general ledger and accounts receivable ledger accounts. GENERAL LEDGER ACCOUNT Accounts Receivable ACCOUNT NO. 122 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- June 1 Balance √ 4,200.00 ACCOUNT Sales Returns and Allowances ACCOUNT NO. 401.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- ACCOUNTS RECEIVABLE LEDGER NAME John B. Abramowitz ADDRESS 3201 West Judkins Road, Seattle, WA 98201-1079 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance √ 850.00 NAME L. B. Gruder ADDRESS 44 Western Blvd., Spokane, WA 98601-4092 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance √ 428.00 NAME Marie L. Perez ADDRESS 158 West Adams Point, Bellevue, WA 98401-0663 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance √ 1,018.00
Journalizing Sales Returns and Allowances Selected transactions are shown. June 1 John B. Abramowitz returned merchandise previously purchased on account (Sale No. 329), $73. 6 Marie L. Perez returned merchandise previously purchased on account (Sale No. 321), $44. 8 L. B. Gruder returned merchandise previously purchased on account (Sale No. 299), $24. 1. Enter the transactions starting on page 60 of a general journal. Enter the posting references when you complete part 2. GENERAL JOURNAL PAGE 60 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- June 1 /√ Returned merchandise June 6 /√ Returned merchandise June 8 /√ Returned merchandise 2. Post the transactions to the appropriate general ledger and accounts receivable ledger accounts. GENERAL LEDGER ACCOUNT Accounts Receivable ACCOUNT NO. 122 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- June 1 Balance √ 4,200.00 ACCOUNT Sales Returns and Allowances ACCOUNT NO. 401.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- ACCOUNTS RECEIVABLE LEDGER NAME John B. Abramowitz ADDRESS 3201 West Judkins Road, Seattle, WA 98201-1079 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance √ 850.00 NAME L. B. Gruder ADDRESS 44 Western Blvd., Spokane, WA 98601-4092 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance √ 428.00 NAME Marie L. Perez ADDRESS 158 West Adams Point, Bellevue, WA 98401-0663 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance √ 1,018.00
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 9SPB: PURCHASES TRANSACTIONS Ann Benton, owner of Bentons Galleria, made the following purchases of...
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Journalizing Sales Returns and Allowances
Selected transactions are shown.
June 1 | John B. Abramowitz returned merchandise previously purchased on account (Sale No. 329), $73. | |
6 | Marie L. Perez returned merchandise previously purchased on account (Sale No. 321), $44. | |
8 | L. B. Gruder returned merchandise previously purchased on account (Sale No. 299), $24. |
1. Enter the transactions starting on page 60 of a general journal. Enter the posting references when you complete part 2.
GENERAL JOURNAL | PAGE 60 | |||
---|---|---|---|---|
DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT |
20-- | ||||
June 1 | ||||
/√ | ||||
Returned merchandise | ||||
June 6 | ||||
/√ | ||||
Returned merchandise | ||||
June 8 | ||||
/√ | ||||
Returned merchandise |
2.
GENERAL LEDGER | ||||||
---|---|---|---|---|---|---|
ACCOUNT | Accounts Receivable | ACCOUNT NO. | 122 | |||
BALANCE | ||||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | DEBIT | CREDIT |
20-- | ||||||
June 1 | Balance | √ | 4,200.00 | |||
ACCOUNT | Sales Returns and Allowances | ACCOUNT NO. | 401.1 | |||
---|---|---|---|---|---|---|
BALANCE | ||||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | DEBIT | CREDIT |
20-- | ||||||
ACCOUNTS RECEIVABLE LEDGER | |||||
---|---|---|---|---|---|
NAME | John B. Abramowitz | ||||
ADDRESS | 3201 West Judkins Road, Seattle, WA 98201-1079 | ||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | BALANCE |
20-- | |||||
June 1 | Balance | √ | 850.00 | ||
NAME | L. B. Gruder | ||||
---|---|---|---|---|---|
ADDRESS | 44 Western Blvd., Spokane, WA 98601-4092 | ||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | BALANCE |
20-- | |||||
June 1 | Balance | √ | 428.00 | ||
NAME | Marie L. Perez | ||||
---|---|---|---|---|---|
ADDRESS | 158 West Adams Point, Bellevue, WA 98401-0663 | ||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | BALANCE |
20-- | |||||
June 1 | Balance | √ | 1,018.00 | ||
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