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instructions Chart of Accounts Journal Instructions Journalize entries for the following related transactions of Lilly Heating Air Company. Refer to the Chart of Accounts for exact word A. Purchased $36,000 of merchandise from Schell Co. on account, terms 1/10, n/30. B. Paid the amount owed on the invoice within the discount period C. Discovered that $9,000 of the merchandise purchased in (A) was defective and returned items, receiving credit D. Purchased $5,000 of merchandise from Schell Co. on account, terms n/30 E. Received a refund from Schell Co for return in (C) less the purchase in (D) Chart of Accounts CHART OF ACCOUNTS Lilly Heating & Air Company General Ledger Check My Work

ASSETS REVENUE 410 Sales 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 610 Rent Revenue EXPENSES 501 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 195 Accumulated Depreciation-Office Equipment 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 211 Accounts Payable-Schell Co 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent Check My Work

PAGE f Score: 104/126 ACCOUNTING EQUATION DATE DESCRIPTION POST, RE CREDIT DEEIT Dec. 31 Inventoy Dec 31 Accounts Payable-Schell Co. Dec 31 Accounts Payable Schell Co. ASSETS İLABILITIES EQUITY Accounts Payable-Schell Co. 27,000.00 36,000.00 Cash 42.700.00 0004,0000 Inventory Dec. 31 Inventory 5.000.00 Accounts Payable-Schell Co. 5000.00 Dec 31 Accounts Payable Schell Co. 4,000.00 10 Cash Points:20 63/25 Feedback Previous Next Check My Work ave andE Submit Assignment for Grad

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る6。。。 Accounts Payekl 36000 个 Dec 31 Accouts Dazal35640 Cash 3S610 ψ 8910 5000 5600 ec 31 Cosh 3a1 311 o voica A paid mithin discount puisdl, 036000 356 40

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