Question 4Record the following transactions in the cash disbursements journal:Mar. 1Paid Duke Mfg (account number D101) RO980 for inventory purchased on Feb. 27 for RO1,000. Duke Mfg offered terms of 2/10, n/30, and you paid within the discount period using check No.4012.Mar. 3Paid Emergency Plumbing RO450. They just came to fix the leak in the coffee room. Give them account number E143. Use check No.4013 and debit the Repairs and Maintenance account, No.655.Mar. 5Used check No.4014 to pay Wake Mfg (account number W210) RO1,684 for inventory purchased on Feb. 25, no terms offered.

Cash disbursement journal is prepared as follows:

Answered: Question 4 Record the following…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 11MC

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Cornerstone Exercise 4-18 Adjusting Entry from Bank Reconciliation A customer of Mutare paid for merchandise originally purchased on account with a check that has been erroneously entered into Mutares cash account for $570 (it actually has been issued and paid for $750). Required: Record the appropriate journal entry to correct the error.
Purchases and cash payments journals Happy Tails Inc. has a September 1, 20Y4, accounts payable balance of 8620. which consists of 320 due Labradore Inc. and 300 due Meow Mart Inc. Transactions related to purchases and cash payments completed by Happy Tails Inc. during the month of September 20Y4 are as follows: Sept. 4. Purchased pet supplies from Best Friend Supplies Inc. on account, 295. 6. Issued Check No. 345 to Labradore Inc. in payment of account, 320. 13. Purchased pet supplies from Poodle Pals Inc. on account, 790. 18. Issued Check No. 346 to Meow Mart Inc. in payment of account, 300. 19. Purchased office equipment from Office Helper Inc. on account, 2,510. 23. Issued Check No. 347 to Best Friend Supplies Inc. in payment of account from purchase made on September 4. 27. Purchased pet supplies from Meow Mart Inc. on account, 450. 30. Issued Check No. 348 to Jennings Inc. for cleaning expenses, 80. a. Prepare a purchases journal and a cash payments journal to record these transactions. The forms of the journals are similar to those used in the text. Place a check mark () in the Post. Ref. column to indicate when the accounts payable subsidiary ledger should be posted. Happy Tails Inc. uses the following accounts: Cash 11 Pet Supplies 14 Office Equipment 18 Accounts Payable 21 Cleaning Expense 54 b. Prepare a listing of accounts payable creditor balances on September 30, 20Y4. Verify that the total of the accounts payable creditor balances equals the balance of the accounts payable controlling account on September 30, 20Y4. c. Why does Happy Tails Inc. use a subsidiary ledger for accounts payable?

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Mar. 1	Paid Duke Mfg (account number D101) RO980 for inventory purchased on Feb. 27 for RO1,000. Duke Mfg offered terms of 2/10, n/30, and you paid within the discount period using check No.4012.
Mar. 3	Paid Emergency Plumbing RO450. They just came to fix the leak in the coffee room. Give them account number E143. Use check No.4013 and debit the Repairs and Maintenance account, No.655.
Mar. 5	Used check No.4014 to pay Wake Mfg (account number W210) RO1,684 for inventory purchased on Feb. 25, no terms offered.