Question

chapter 12 series B exercises

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andise on account from Sillas avice No 12,53,100, terms 1/10, a Company 5 Returned merchandive purchased from Tang's Toys, receiving a credit wmemo on the amount owed, $500 s Parchased merchandise on account from Daisy's Dolls, Invoice No. 139, $1,900, terms 2/10, /30. 11 Issued Check No.415 t0 Tang's Toys for merchandise parchased on account, less return of luly 5 and less 2% dincount 13 Issoed Check No. 416 to Sillas & Company for merchandise purchased on account, less 1% discount 15 Returned merchandise parchased from Daisy's Dolls, receiving a credit memo on the amount owed, 5400 18 Issued Check No. 417 to Daisy's Dolls for merchandise purchased on account, less return of tuly 15 and less 2% discount 25 Purchased merchandise on account from Allied Buss Invoice No. 489, $2.450, terms n/30. 26 Purchased merchandise on account from Tang's Toys, Invoice No. 375, $1,980, terms 2/10, n/30. 29 Purchased merchandise on account from Sillas & Company, Invoice No. 883, $3,460, terms 1/10, n/30. 31 Freddy Flint withdrew cash for personal use, 52,000. Issued Check No. 418. 31 Issued Check No. 419 to Glisan Distributors for a cash purchase of merchandise, S975 onoREQUIRED 1. Record the transactions in the punchases journal, cash payments journal, and general journal. Total and rule the purchases and cash payments journals. Prove the cash payments journal. 2. Post from the journals to the general ledger and accounts payable ledger accounts. Use general ledger account numbers as shown in the chapter. SERIES B EXERCISES RECORDING TRANSACTIONS IN THE PROPER JOURNAL ldentify the journal (sales, cash receipts, purchases, cash payments, or general) in which each of the fol- lowing transactions should be recorded: E 12-1B (LO1) (a) Issued credit memo to customer for merchandise returned. (b) Sold merchandise for cash. (c) Purchased merchandise on account. of (d) Issued checks to employees in payment (e) Purchased (f) Sold merchandise on account. l wages. ctory supplies on account. JOURNALIZING SALES TRANSACTIONS Enter the following transactions in a sales (continued) Е 12-2B (LO2) Sept. 1: Dr. Accounts Receivable/ Smith, $1,890 journal. Use a 5% sales tax rate. 0 0002

Answer 1

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E12-1B
a	General
b	Cash Receipts
c	Purchases
d	Cash Payments
e	Purchases
f	Sales
E12-2B
Date	Customer	Invoice No	Accounts Receivable Debit	Sales Credit	Sales Tax Credit
Sep 1	K Smith	228	$                                                   1,890	$                                            1,800	$                               90
Sep 3	J Arnes	229	$                                                   3,255	$                                            3,100	$                             155
Sep 5	M Denison	230	$                                                   2,940	$                                            2,800	$                             140
Sep 7	B Marshal	231	$                                                   1,995	$                                            1,900	$                               95
E12-3B
Date	Account	Cash Debit	Accounts Receivable Credit	Sales Credit
Nov 1	Jean	$                 750	$                                                       750
Nov 12	Marc	$                 464	$                                                       464
Nov 15	Sales	$             3,763		$                                            3,763
Nov 18	Will Mossein	$                 241	$                                                       241
Nov 25	Sales	$             2,648		$                                            2,648
E12-4B
				Purchase Debit
Date	Bill NO	Accounts	Terms	Accounts Payable Credit
Jan 3	416	Feng	2/10, n/30	$                                            6,000
Jan 12	624	Miranda	n/30	$                                            9,000
Jan 19	190	J B Barba	1/10, n/30	$                                            6,400
Jan 26	923	Ramrez	1/15, n/30	$                                            3,700