In: Accounting
Week 3 |
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15 |
Purchased 13 sets of Sting Ray Golf Clubs from Sport Borders for $376 each, terms net 30. |
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17 |
Purchased 11 Specialist Tennis Raquets from Hike for $280 each, terms 2/10, n/30. |
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17 |
Sold 3 Quidditch Snitches to Jump Around for $752 each, Invoice No. 384. |
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18 |
Paid sales staff wages of $1,530 for the week up to and including yesterday, Check No. 877. |
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19 |
Received a purchase order from Balls 'n All. Created a corresponding sales order to deliver 40 Quidditch Snitches to this customer for $752 each, Invoice No. 386. |
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20 |
Balls 'n All paid $3,700 in partial payment of their account. |
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20 |
Made cash sale of 24 MJO Basketball Sets for a list price of $576 each. A trade discount of 25% applies. |
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20 |
The Locker Room returned 8 pairs of Football Boots that were originally sold for $336 each on 11 June. These items cost $192 each and were not faulty or damaged. Issued a Credit Memorandum for $2,688. |
CASH RECEIPTS JOURNAL
Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate account credited in these transactions into the Account column so that the type of transaction can be determined by the name of the account entered into this column.
Date |
Account |
Post Ref. |
Debit |
Credit |
Cost of Goods Sold |
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Cash |
Sales Discounts |
Sales Revenue |
Accounts Receivable |
Other Accounts |
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Jun |
1 |
Bank Loan Payable |
250 |
48,000 |
48,000 |
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Jun |
5 |
ARC - Jump Around |
110-5 |
4,308 |
4,308 |
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Jun |
10 |
ARC - Mick's Sporting Goods |
110-1 |
3,222 |
358 |
3,580 |
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Jun |
13 |
Sales Revenue |
X |
16,200 |
16,200 |
7,200 |
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Jun |
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Jun |
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(Q=504.cashPaymentsJournalWeek3)
CASH PAYMENTS JOURNAL
Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate account debited in these transactions into the Account column so that the type of transaction can be determined by the name of the account entered into this column.
Date |
Account |
Check |
Post |
Debit |
Credit |
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Accounts Payable |
Merchandise Inventory |
Wages |
Other Accounts |
Cash |
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Jun |
1 |
Prepaid Rent |
868 |
140 |
8,200 |
8,200 |
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Jun |
2 |
APC - Addax Sports |
869 |
210-6 |
3,395 |
3,395 |
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Jun |
2 |
Office Supplies |
870 |
130 |
580 |
580 |
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Jun |
4 |
Electricity Payable |
871 |
221 |
840 |
840 |
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Jun |
4 |
Wages Payable |
872 |
220 |
744 |
1,135 |
1,879 |
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Jun |
11 |
APC - Sports 'R Us |
873 |
210-2 |
3,820 |
3,820 |
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Jun |
11 |
APC - Hike |
874 |
210-1 |
2,227 |
2,227 |
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Jun |
11 |
Wages Expense |
875 |
X |
2,388 |
2,388 |
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Jun |
13 |
APC - Sport Borders |
876 |
210-5 |
3,636 |
3,636 |
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Jun |
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Jun |
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Jun |
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Jun |
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