Journalizing Cash Payments Transactions Enter the following cash payments transactions in a general journal: Sept. 5 Issued Check No. 318 to Clinton Corp. for merchandise purchased August 28, $5,500, 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, $7,500, terms 1/10, n/30. A credit memo had been received on September 8 from Martin Company for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated September 8. 19 Issued Check No. 320 to Expert Systems for merchandise purchased August 20, $3,600, terms n/30. 27 Issued Check No. 321 to Dynamic Data for merchandise purchased September 17, $9,000, terms 2/10, n/30. Payment is made within the discount period.

Journalizing Cash Payments Transactions Enter the following cash payments transactions in a general journal: Sept. 5 Issued Check No. 318 to Clinton Corp. for merchandise purchased August 28, $5,500, 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, $7,500, terms 1/10, n/30. A credit memo had been received on September 8 from Martin Company for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated September 8. 19 Issued Check No. 320 to Expert Systems for merchandise purchased August 20, $3,600, terms n/30. 27 Issued Check No. 321 to Dynamic Data for merchandise purchased September 17, $9,000, terms 2/10, n/30. Payment is made within the discount period.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 2.1C

See similar textbooks

Sept. 5	Issued Check No. 318 to Clinton Corp. for merchandise purchased August 28, $5,500, 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, $7,500, terms 1/10, n/30. A credit memo had been received on September 8 from Martin Company for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated September 8.
19	Issued Check No. 320 to Expert Systems for merchandise purchased August 20, $3,600, terms n/30.
27	Issued Check No. 321 to Dynamic Data for merchandise purchased September 17, $9,000, terms 2/10, n/30. Payment is made within the discount period.