Question

Purchase-Related Transactions Using Perpetual Inventory System

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

Oct. 1.	Purchased merchandise from UK Imports Co., $13,891, terms FOB destination, n/30.
3.	Purchased merchandise from Hoagie Co., $9,600, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $200 was added to the invoice.
4.	Purchased merchandise from Taco Co., $12,350, terms FOB destination, 2/10, n/30.
6.	Issued debit memo to Taco Co. for $4,950 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 and discount.
19.	Purchased merchandise from Veggie Co., $29,480, terms FOB shipping point, n/eom.
19.	Paid freight of $425 on October 19 purchase from Veggie Co.
20.	Purchased merchandise from Caesar Salad Co., $21,200, 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.

Required:

Journalize the entries to record the transactions of Capers Company for October.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Oct. 1
Oct. 3
Oct. 4
Oct. 6
Oct. 13
Oct. 14
Oct. 19
Oct. 19
Oct. 20
Oct. 30
Oct. 31
Oct. 31

Answer 1

Oct. 1	Merchandise Inventory	$13,891
	Accounts Payable-UK Imports Co.		$13,891
Oct. 3	Merchandise Inventory	$9,800
	Accounts Payable-Hoagie Co.		$9,800
Oct. 4	Merchandise Inventory	$12,350
	Accounts Payable- Taco Co.		$12,350
Oct. 6	Accounts Payable- Taco Co.	$4,950
	Merchandise Inventory		$4,950
Oct. 13	Accounts Payable-Hoagie Co.	9800
	Merchandise Inventory		192
	Cash		9608
Oct. 14	Accounts Payable- Taco Co.	7400
	Merchandise Inventory		148
	Cash		7252
Oct. 19	Merchandise Inventory	$29,480
	Accounts Payable- Veggie Co.		$29,480
Oct. 19	Merchandise Inventory	425
	Cash		425
Oct. 20	Merchandise Inventory	$21,200
	Accounts Payable-Caesar Salad Co.		$21,200
Oct. 30	Accounts Payable-Caesar Salad Co.	$21,200
	Merchandise Inventory		212
	Cash		20988
Oct. 31	Accounts Payable-UK Imports Co	$13,891
	Cash		$13,891
Oct. 31	Accounts Payable-Veggie Co	$29,480
	Cash		$29,480