JOURNALIZING CASH PAYMENTS Lakeview Industries uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Sept. 5 Issued Check No. 318 to Clausen 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 McGoniglc Co. for merchandise purchased September 2, $8,400, terms 1/10, n/30. A credit memo had previously been received from McGoniglc Co. 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 Elite Systems for merchandise purchased August 19, $4,600, terms n/30. 27 Issued Check No. 321 to Glenn Falls for merchandise purchased September 17, $7,000, terms 2/10, n/30. Payment is made within the discount period.

BuyFind

College Accounting, Chapters 1-27 ...

22nd Edition
James A. Heintz + 1 other
Publisher: Cengage Learning
ISBN: 9781305666160
BuyFind

College Accounting, Chapters 1-27 ...

22nd Edition
James A. Heintz + 1 other
Publisher: Cengage Learning
ISBN: 9781305666160

Solutions

Chapter
Section
Chapter 12, Problem 5SEA
Textbook Problem

JOURNALIZING CASH PAYMENTS Lakeview Industries uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased:

Sept. 5 Issued Check No. 318 to Clausen 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 McGoniglc Co. for merchandise purchased September 2, $8,400, terms 1/10, n/30. A credit memo had previously been received from McGoniglc Co. 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 Elite Systems for merchandise purchased August 19, $4,600, terms n/30.

27 Issued Check No. 321 to Glenn Falls for merchandise purchased September 17, $7,000, terms 2/10, n/30. Payment is made within the discount period.

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Chapter 12 Solutions

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Ch. 12 - LO2 Enter the following transaction in a sales...Ch. 12 - LO3 Enter the following transactions in a cash...Ch. 12 - LO4 Enter the following transaction in a purchases...Ch. 12 - Enter the following transactions in a cash...Ch. 12 - What is the primary purpose of using special...Ch. 12 - List four items of information about each sale...Ch. 12 - What steps are followed in posting from the sales...Ch. 12 - What steps are followed in posting from the sales...Ch. 12 - List three items of information about each cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - List four items of information about each purchase...Ch. 12 - What steps are followed in posting from the...Ch. 12 - What steps are followed in posting from the...Ch. 12 - List four items of information about each cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - RECORDING TRANSACTIONS IN THE PROPER JOURNAL...Ch. 12 - JOURNALIZING SALES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH RECEIPTS Enter the following...Ch. 12 - JOURNALIZING PURCHASES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH PAYMENTS Lakeview Industries...Ch. 12 - SALES JOURNAL Futi Ishanyan owns a retail business...Ch. 12 - CASH RECEIPTS JOURNAL Zebra Imaginarium, a retail...Ch. 12 - SALES JOURNAL, CASH RECEIPTS JOURNAL, AND GENERAL...Ch. 12 - PURCHASES JOURNAL J. B. Speck, owner of Specks...Ch. 12 - PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS...Ch. 12 - CASH PAYMENTS JOURNAL Sam Santiago operates a...Ch. 12 - PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND...Ch. 12 - RECORDING TRANSACTIONS IN THE PROPER JOURNAL...Ch. 12 - JOURNALIZING SALES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH RECEIPTS Enter the following...Ch. 12 - JOURNALIZING PURCHASES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH PAYMENTS Sandcastles Northwest...Ch. 12 - SALES JOURNAL T. M. Maxwell owns a retail business...Ch. 12 - CASH RECEIPTS JOURNAL Color Florists, a retail...Ch. 12 - SALES JOURNAL, CASH RECEIPTS JOURNAL, AND GENERAL...Ch. 12 - PURCHASES JOURNAL Ann Benton, owner of Bentons...Ch. 12 - PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS...Ch. 12 - CASH PAYMENTS JOURNAL Kay Zembrowski operates a...Ch. 12 - PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND...Ch. 12 - You have a part-time job as a bookkeeper at a...Ch. 12 - Judy Baresford, the store manager of Comfort...Ch. 12 - During the month of October 20--, The Pink Petal...Ch. 12 - Screpcap Co. had the following transactions during...

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