Solution.
SALES JOURNAL | ||||
Date | Account Debited | Invoices No. | Account Receivable Dr. | Cost of Goods Sold Dr. |
Sales Cr. | Inventory Cr. | |||
3-Apr | Account Receivable | 760 | $ 4,000 | $ 3,000 |
5-Apr | Account Receivable | 761 | $ 8,000 | $ 6,500 |
11-Apr | Account Receivable | 762 | $ 10,500 | $ 7,000 |
13-Apr | Account Receivable | 763 | $ 5,100 | $ 3,600 |
27-Apr | Account Receivable | 764 | $ 3,170 | $ 2,520 |
27-Apr | Account Receivable | 765 | $ 6,700 | $ 4,305 |
30-Apr | Total | $ 37,470 | $ 26,925 |
CASH RECEIPTS JOURNAL | |||||||
Date | Account Credited | Cash | Sales | Account | Sales | Other | Cost of Goods Sold Dr. |
Dr. | Discount Dr. | Receivable Cr. | Cr. | Assets Cr. | Inventory Cr. | ||
13-Apr | Account Receivable | $ 3,920 | $ 80 | $ 4,000 | $ 3,000 | ||
14-Apr | Account Receivable | $ 7,840 | $ 160 | $ 8,000 | $ 6,500 | ||
16-Apr | Sales | $ 52,840 | $ 52,840 | $ 35,880 | |||
20-Apr | Account Receivable | $ 10,290 | $ 210 | $ 10,500 | $ 7,000 | ||
23-Apr | Account Receivable | $ 4,998 | $ 102 | $ 5,000 | $ 3,600 | ||
30-Apr | Sales | $ 73,975 | $ 73,975 | $ 58,900 | |||
30-Apr | Total | $ 153,863 | $ 552 | $ 27,500 | $ 126,815 | $ 114,880 |
Required Information [The following information applies to the questions displayed below.] Wiset Company completes these transactions...
Answer the whole question, please. Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 2 Purchased $15,100 of merchandise on credit from Noth Company, invoice dated April 2, terms 2/10, n/60. 3 (a) Sold merchandise on credit to Page Alistair, Invoice No. 760, for $4,600 (cost is $3,500). 3 (b) Purchased $1,550 of office supplies on credit from Custer, Inc. Invoice dated April 2, terms n/10 EOM....
Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 2 Purchased $15,100 of merchandise on credit from Noth Company, invoice dated April 2, terms 2/10, n/60. 3 Sold merchandise on credit to Page Alistair, Invoice No. 760, for $5,500 (cost is $3,500). 3 Purchased $1,400 of office supplies on credit from Custer, Inc. Invoice dated April 2, terms n/10 EOM. 4 Issued Check No. 587 to World...
Problem 7-3A Special journals, subsidiary ledgers, and schedule of accounts payable-perpetual LO C3, P1, P2 Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 2 Purchased $15,800 of merchandise on credit from Noth Company, invoice dated April 2, terms 2/10, n/60. 3 Sold merchandise on credit to Page Alistair, Invoice No. 760, for $5,600 (cost is $2,800). 3 Purchased $1,590 of office supplies on credit from Custer,...
Problem 7-3A Special journals, subsidiary ledgers, and schedule of accounts payable-perpetual LO C3, P1, P2 Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 2 Purchased $16,000 of merchandise on credit from Noth Company, invoice dated April 2, terms 2/10, n/60. 3 Sold merchandise on credit to Page Alistair, Invoice No. 760, for $5,900 (cost is $2,800). 3 Purchased $1,590 of office supplies on credit from Custer,...
Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30).Required1. Prepare a sales journal and cash receipts journal. Number both journal pages as page 3. Enter the transactions of Wiset Company that should be journalized in the sales journal and those that should be journalized in the cash receipts journal. Ignore transactions that should be journalized in a purchases journal, cash payments journal, or general journal.2. Open the following...
[The following information applies to the questions displayed below.) Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $37,000 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30. Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,800 (cost is $7,400). 3 (a) Purchased $1,110 of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10...
[The following information applies to the questions displayed below.] Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $37,000 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30. Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,800 (cost is $7,400). 3 (a) Purchased $1,110 of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10...
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Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, /30). S 2/15, n e Mar. Purchased $34,000 of merchandise from Van Industries, terms 2/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $13,600 (cost is $6,800). 3 (a) Purchased $1,020 of office supplies on credit from Gabel Company, terms 'n/30. 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for...