Question

The following selected transactions were completed by Capers Company during October of the current year:

Oct.	1	Purchased merchandise from UK Imports Co., $13,201, terms FOB destination, n/30.
	3	Purchased merchandise from Hoagie Co., $10,050, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice.
	4	Purchased merchandise from Taco Co., $13,450, terms FOB destination, 2/10, n/30.
	6	Issued debit memo to Taco Co. for $4,100 of merchandise returned from purchase on October 4.
	13	Paid Hoagie Co. for invoice of October 3.
	14	Paid Taco Co. for invoice of October 4, less debit memo of October 6.
	19	Purchased merchandise from Veggie Co., $29,450, terms FOB shipping point, n/eom.
	19	Paid freight of $395 on October 19 purchase from Veggie Co.
	20	Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10, n/30.
	30	Paid Caesar Salad Co. for invoice of October 20.
	31	Paid UK Imports Co. for invoice of October 1.
	31	Paid Veggie Co. for invoice of October 19.

Journalize the entries to record the transactions of Capers Company for October. Refer to the Chart of Accounts for exact wording of account titles.

Answer 1

S.NO	Particulars	Debit	Credit
1	Merchandise Inventory	13,201
	Accounts Payable		13,201
3	Merchandise Inventory	10,170
	Accounts Payable		10,170
4	Merchandise Inventory	13,450
	Accounts Payable		13,450
6	Accounts Payable	4,100
	Merchandise		4,100
13	Accounts Payable	10170
	Cash		9969
	Merchandise Inventory		201
14	Accounts Payable	9350
	Cash		9163
	Merchandise Inventory		187
19	Merchandise Inventory	29450
	Accounts Payable		29450
19	Merchandise Inventory	395
	Cash		395
20	Merchandise Inventory	22,000
	Accounts Payable		22,000
30	Accounts Payable	22,000
	Cash		21,780
	Merchandise		220
31	Accounts Payable	13,201
	Cash		13201
31	Accounts Payable	29,450
	Cash		29,450