Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the sales journal.
May 2 Sold merchandise costing $300 to B. Facer for $450 cash, invoice no. 5703.
5 Purchased $2,400 of merchandise on credit from Marchant Corp.
7 Sold merchandise costing $800 to J. Dryer for $1,250, terms 2/10, n/30, invoice no. 5704.
8 Borrowed $9, 000 cash by signing a note payable to the bank.
12 Sold merchandise costing $200 to R. Lamb for $340, terms n/30, invoice no. 5705.
16 Received $1, 225 cash from J. Dryer to pay for the purchase of May 7.
19 Sold used store equipment (noninventory) for $900 cash to Golf, Inc.
25 Sold merchandise costing $500 to T. Taylor for $750, terms n/30, invoice no. 5706.
Sales journal
Date | Account debited | Invoice number |
Accounts receivable Dr. Sales Cr. |
Cost of goods sold Dr. Inventory Cr. |
May 2 | B. Facer | 5703 | 450 | 300 |
May 7 | J. Dryer | 5704 | 1250 | 800 |
May 12 | R. Lamb | 5705 | 340 | 200 |
May 25 | T. Taylor | 5706 | 750 | 500 |
Total | $2,790 | $1,800 |
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Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal.
Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the sales journal. May 2 Sold merchandise costing $380 to B. Facer for $570 cash, invoice no. 5703. 5 Purchased $2,850 of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $1,026 to J. Dryer for $1,488, terms 2/10, n/30, invoice no. 5704. 8 Borrowed $8,000 cash by signing a note payable to...
Saved He Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the sales journal. 2 Sold merchandise costing $420 to B. Facer for $630 cash, invoice no. 5703. 5 Purchased $2,600 of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $1,134 to J. Dryer for $1,644, terms 3/10, n/30, invoice no. 5704 8 Borrowed $8,000 cash by signing a note payable...
Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. May. 2 Sold merchandise costing $400 to B. Facer for $600 cash, invoice no. 5703. 5 Purchased $2,450 of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $1,080 to J. Dryer for $1,566, terms 2/10, n/30, invoice no. 5704. 8 Borrowed $8,000 cash by signing a note payable...
Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May 2 Sold nerchandise costing $260 to B. Facer for $390 cash, invoice no. 5703. 5 Purchased $2,950 of merchandise on credit from Marchant Corp. 7 Sold nerchandise costing $702 to J. Dryer for $1,018, terms 2/10, n/30, invoice no. 5704 8 Borroved $8,000 cash by signing a note payable to...
Quiz 7-3 Finer Company uses a sales journal, a purchases journal, a cash recelpts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May 2 Sold merchandise costing $400 to B. Facer for $600 cash, invoice no. 5703 5 Purchased $2,8ee of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $1,08e to J. Dryer for $1,566, terms 2/10, n/30, invoice no. 5784. 8 Borrowed $8,000 cash by signing a note...
Exercise 7-1 Sales journal-perpetual LO P1 Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general Journal. The following transactions occur in the month of May. May 2 Sold merchandise costing $440 to 3. Tacer for $660 cash, invoice no. 5703. 5 Purchased $2,100 of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $1,188 to J. Dryer for $1,723, terms 2/10, n/30, invoice no. 5704. 8 Borrowed $8,000...
Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. May2Sold merchandise costing $410 to B. Facer for $615 cash, invoice no. 5703.5Purchased $2,250 of merchandise on credit from Marchant Corp.7Sold merchandise costing $1,107 to J. Dryer for $1,605, terms 3/10, n/30, invoice no. 5704.8Borrowed $8,000 cash by signing a note payable to the bank.12Sold merchandise costing $277 to R. Lamb...
Hel Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. May 1 Purchased $11,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $940 to G. Seles for $1,700 on credit subject to a $32 sales discount if paid by the end of the month. 14 Purchased $260 of store supplies from Chang Company on credit, terms...
Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. May 1 Purchased $20,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $1,300 to G. Seles for $3,500 on credit subject to a $50 sales discount if paid by the end of the month. 14 Purchased $440 of store supplies from Chang Company on credit, terms n/30....
I need help to solve this sales journal e o Chapter 07 Pre-Built Problems r 07 Pre-Built Problems Finer Company uses a sales journal a purchases journal, a cash receipts journal, a cash dabursements journal, and a The following transactions occur in the month of May May 2 Seld merchandise costing $370 to B. Tacer for $5ss cash, invoice só. 5703 Purchased $2,450 of merchandise en eredit from marehant Corp. Sold merchandiae cost.ing 5599 to J. Deyer for $1,449, terma...
> The first entry is not includes in this table, because the sales was done in cash. The only entries in sales journal are sales where the buyer is using credit.
Alle Smith Mon, Feb 21, 2022 3:55 PM