Question

The Old English Garden Shop is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for July are listed below. The general ledger accounts used to record these transactions are also provided The balance shown is for the beginning of July 2019. PARTI GENERAL LEDGER ACCOUNTS 205 Accounts Payable, $35,850 Cr. 501 Purchases 502 Freight In 503 Purchases Returns and Allowances DATE TRANSACTIONS July 1 Purchased lawn mowers for 69, 180 plus a freight charge of 6246 from Charleston Corporation, Invoice 1011, dated June 26, net due and payable in 60 days. 5 Purchased outdoor chairs and tables for $4,340 plus a freight charge of 6549 from Cedarbrook Garden Center, Invoice 639, dated July 2, net due and payable in 45 days. 9 Purchased grass seed for $1,330 from Lawn and Gardens Supply, Invoice 8164, dated July 5; the terms are 30 days net. 16 Received Credit Memorandum 110 for $570 from Cedarbrook Garden Center; the amount is an allowance for scratches on some of the chairs and tables originally purchased on Invoice 639, dated July 2. 19 Purchased fertilizer for $1,170 plus a freight charge of 6253 from Lawn and Gardens Supply, Invoice 9050, dated July 15; the terms are 30 days net. 21 Purchased hoses from Dunn Rubber Company for $3,650 plus a freight charge of $221, Invoice 1785, dated July 17; terma are 1/15, 1/60. 28 Received Credit Memorandum 223 for $400 from Dunn Rubber Company for damaged hoses that were returned; the goods were purchased on Invoice 1785, dated July 17. Purchased lawn sprinkler systems for $10.280 plus a freight charge of $275 from Warren industrial Products, Invoice 8985, dated July 26; the T A TA 2/1 . n. 3 of 4 !! Next >

The old English garden shop is a retail store that sells garden equipment furniture and supplies it's credit purchases and purchases returns and allowances for July are listed below the general ledger account used to record these transactions are also provided the balance shown is for the beginning of July 2019

Answer 1

Accounts Payable		Account No. 205			Purchases		Account No. 501
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
July 1, 2019			35850		July 31, 2019	29950		29950
July 16, 2019	570		35280
July 28, 2019	400		34880
July 31, 2019		31494	66374
Freight In		Account No. 502			Purchase Returns and Allowances		Account No. 503
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
July 31, 2019	1544		1544		July 16, 2019		570	570
					July 28, 2019		400	970

PURCHASES JOURNAL
Date	Purchased From	Invoice Number	Invoice Date	Terms	Accounts Payable Credit	Purchases Debit	Freight In Debit
July 1, 2019	Charleston Corporation	1011	June 26, 2019	n/60	9426	9180	246
July 5, 2019	Cedarbrook Garden Center	639	July 2, 2019	n/45	4889	4340	549
July 9, 2019	Lawn and Gardens Supply	8164	July 5, 2019	n/30	1330	1330	0
July 19, 2019	Lawn and Gardens Supply	9050	July 15, 2019	n/30	1423	1170	253
July 21, 2019	Dunn Rubber Company	1785	July 17, 2019	1/15, n/60	3871	3650	221
July 31, 2019	Warren Industrial Products	8985	July 26, 2019	2/10, n/30	10555	10280	275
July 31, 2019	Totals				31494	29950	1544

Transaction	Account Title	Debit	Credit
1	Accounts payable-Cedarbrook Garden Center	570
	Purchase returns and allowances		570
	(To record credit memo received for damaged goods)
2	Accounts payable-Dunn Rubber Company	400
	Purchase returns and allowances		400
	(To record credit memo received for damaged goods)

Purchases	$                29,950
Add: Freight In	$                   1,544
Delivered cost of purchases	$                31,494
Less: Purchase returns and allowances	$                      970
Net delivered cost of purchases	$                30,524