Question

During November, the following summary transactions were completed. Journalize the November Transactions.

Nov.	8		Paid $4,260 for salaries due employees, of which $2,220 is for November and $2,040 is for October.
	10		Received $2,280 cash from customers in payment of account.
	11		Purchased merchandise on account from Dimas Discount Supply for $9,600, terms 2/10, n/30.
	12		Sold merchandise on account for $6,600, terms 2/10, n/30. The cost of the merchandise sold was $4,800.
	15		Received credit from Dimas Discount Supply for merchandise returned $360.
	19		Received collections in full, less discounts, from customers billed on sales of $6,600 on November 12.
	20		Paid Dimas Discount Supply in full, less discount.
	22		Received $2,760 cash for services performed in November.
	25		Purchased equipment on account $6,000.
	27		Purchased supplies on account $2,040.
	28		Paid creditors $3,600 of accounts payable due.
	29		Paid November rent $450.
	29		Paid salaries $1,560.
	29		Performed services on account and billed customers $840 for those services.
	29		Received $810 from customers for services to be performed in the future.

Answer 1

Date	General Journal	Debit	Credit
08-Nov	Salaries Payable	2,040
	Salaries Expense	2,220
	Cash		4,260
10-Nov	Cash	2,280
	Accounts Receivables		2,280
11-Nov	Merchandise Inventory	9,600
	Accounts Payable		9,600
12-Nov	Accounts Receivables	6,600
	Sales		6,600
	COGS	4,800
	Merchandise Inventory		4,800
15-Nov	Accounts payable	360
	Merchandise Inventory		360
19-Nov	Cash	6,468
	Sales Discount (6600*2%)	132
	Accounts Receivable		6,600
20-Nov	Accounts Payable	9,240
	Merchandise Inventory		185
	Cash		9,055
	(9600-360)*2%
22-Nov	Cash	2,760
	Service Revenue		2,760
25-Nov	Equipment	6,000
	Accounts Payable		6,000
27-Nov	Supplies	2,040
	Accounts Payable		2,040
28-Nov	Accounts Payable	3,600
	Cash		3,600
29-Nov	Rent Expense	450
	Cash		450
29-Nov	Salaries Expense	1,560
	Cash		1,560
29-Nov	Accounts Receivable	840
	Service Revenue		840
29-Nov	Cash	810
	Unearned Service Revenue		810