Question

Ming Company's chart of accounts includes the following selected accounts. 101 120 130 157 Cash Merchandise Inventory Prepaid Insurance Equipment 201 Accounts Payable 306 T. Ming, Drawing 505 Cost of Goods Sold On October 1 the accounts payable ledger of Ming Company showed the following balances: A/P $ (control account in general ledger) Bovary Company Nyman Co. Pyron Co. Sims Company $2,700 $2,500 $1,800 $3,700 The October transactions involving the payment of cash were as follows. Oct. 1 Purchased merchandise, Check 63, $300. 3 Purchased equipment, Check 64, $800. 5 Paid Bovary Company balance due of $2,700, less 2% discount, Check 65, $2,646. 10 Purchased merchandise, Check 66, $2,250. 15 Paid Pyron Co. balance due of $1,800, Check 67. 16 T. Ming, the owner, pays his personal insurance premium of $400, Check 68. 19 Paid Nyman Co. in full for Invoice 610, $1,600 less 2% cash discount, Check 69, $1,568. 29 Paid Sims Company in full for Invoice 264, $2,500, Check 70. Instructions: 1 Ming Company uses special journals. The Cash Disbursements journal is used to record all cash receipts. 2 Record the October transactions in the Cash Disbursements journal. When a subsidiary account is used, post immediately to the subsidiary account (not to A/P), using the in the cash disbursements journal to signify that the amount was posted to a subsidiary ledger account. 3 At the end of the month, total the journal and verify that Dr = Cr. Post the totals to the general ledger. Remember the posting reference numbers and the X. 4 Prepare the Schedule of Accounts Payable. Compare its balance to the total in the general ledger Accounts Payable control account. The totals should equal. Balancing total is $12,350 and Accounts payable is $2,100.

I only need help with the cash disbursements journal. Thanks

Answer 1

CASH DISBURSEMENT JOURNAL Cash Cr Discount Cr. Ref Date Check No Payee AP Dr Inventory Dr EquipmentDr Drawings 300 800 2,700 2,250) 1-Jan 3-Oct| 5-Oct 10-Oct 15-Oct 16-Oct 19-Oct| 29-Oct 31-Oct 63 Purchase of Merchandise 64 Purchase of Equipment 65 Bovary Company 66 Purchase of Merchandise 67 Pyron Co. 68 T.Ming Drawings 69 Nyman Company 70 Sims Company Total 300 800 2,646 2,250 1,800 400 1,568 2,500 12,264 1,800 400 1,600 2,500 8,600 86 2,550 800 400