Question

Exercise 7-6 Company uses special journals and a general journal. The following transactions occurred during September 2017. 2 Sold merchandise on account to H. Drew, invoice no. 101, s620, terms n/30. The cost of the merchandise sold was $420. 10 Purchased merchandise on account from A. Pagan $650, terms 2/10, n/30. 12 Purchased office equipment on account from R. Cairo $6,500. 21 Sold merchandise on account to G. Holliday, invoice no. 102 for $800, terms 2/10, n/30. The cost of the merchandise sold was $480. 25 Purchased merchandise on account from D. Downs $860, terms n/30. 27 Sold merchandise to S. Miller for $700 cash. The cost of the merchandise sold was $400. Prepare a sales journal and record the transactions for September that should be journalized. (Record entries in the order presented in the problem statement.) GOMES COMPANY Sales Journal S1 Account Debited Invoice Accounts Receivable Dr. Cost of Goods Sold Dr Date No. Ref. Sales Revenue Cr Inventory Cr 2017 LINK TO TEXT VIDEO: STMILAR EXERCISE Prepare a single-column purchases journal and record the transactions for September that should be journalized. (Record entries in the order presented in the problem statement.) GOMES COMPANY Purchases Journal P1 Inventory Dr Account Credited Date Terms Ref. Accounts Payable Cr 2017

Answer 1