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YardWorks sells landscaping materials. During the month of July 2019, the following transactions occurred. Assume zero balances for the subledger and general ledger accounts. Assume no entries were made directly to the accounts payable general ledger from the general journal.
|Jul 5||Purchased office supplies for $640 on account from Office Supply Shop.|
|Jul 10||Purchased inventory for $1,140 cash from Rock-N-Roll with Cheque #408.|
|Jul 12||Paid telephone bill for $340 cash with Cheque #409.|
|Jul 17||Paid the amount owing to Office Supply Shop with Cheque #410.|
|Jul 27||Purchased inventory for $3,570 from Pathway Stones on account.|
a) Record the above transactions in the purchases journal and the cash payments journal.
b) Post the appropriate transactions from the journals to the subledger accounts.
c) At the end of the month, total the journals and update the accounts payable control account.
Do not enter dollar signs or commas in the input boxes.
|Purchases Journal||Page 6|
|Date||Account||Invoice||Merchandise Inventory (DR)||Office Supplies (DR)||Other (DR)||Accounts Payable (CR)|
|Jul 5||Office Supply Shop||$Answer||$Answer||$Answer||$Answer|
|Jul 27||Pathway Stones||$Answer||$Answer||$Answer||$Answer|
|Cash Payments Journal||Page 4|
|Date||Account||Cheque #||Accounts Payable (DR)||Other (DR)||Merchandise Inventory (DR)||Cash (CR)|
|Jul 12||Telephone Expense||Answer||$Answer||$Answer||$Answer||$Answer|
|Jul 17||Office Supply Shop||Answer||$Answer||$Answer||$Answer||$Answer|
|Account: Accounts Payable||GL No. 200|
|Jul 31||Adjustment from purchases||$Answer||$Answer||$Answer||AnswerDRCR|
|Jul 31||Adjustment from cash payments||$Answer||$Answer||$Answer||AnswerDRCR|
|Account: Office Supply Shop|
|Account: Pathway Stones|
a) Purchase journal and cash payment journal is prepared as follows:
Resulting values are as follows:
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