Selected accounts from the ledgers of Youngblood Company at July 31 showed the following. Instructions From the
Question:
Selected accounts from the ledgers of Youngblood Company at July 31 showed the following.
InstructionsFrom the data prepare:a. The single-column purchases journal for July.b. The general journal entries for July.
Transcribed Image Text:
General Ledger Inventory Accounts Payable No. 120 No. 201 Ref. Debit Credit Balance Ref. Debit Credit Balance Date Date July 1 GI 3,900 3,900 July 15 G1 400 400 15 GI 400 4,300 18 GI 100 300 18 GI 25 GI 100 4,200 200 100 25 GI 200 4,000 31 PI 9,300 9,400 13,300 31 P1 9,300 Equipment No. 157 Ref. Debit Credit Balance Date July 1 3,900 3,900 G1 Accounts Payable Subsidiary Ledger Flaherty Equipment Co. Weller Co. Date Ref. Debit Credit Balance Date Ref. Debit Credit Balance July 1 GI 3,900 3,900 July 14 PI 1,100 1,100 25 GI 200 900 Marsh Co. Yates Co. Date Ref. Debit Credit Balance Date Ref. Debit Credit Balance July 3 PI 2,400 2,400 July 12 PI 500 500 20 PI 1,700 4,100 21 PI 600 1,100 Lange Corp Bernardo Inc. Date Ref. Debit Credit Balance Date Ref. Debit Credit Balance July 17 PI 1,400 1,400 July 15 G1 400 400 18 GI 100 1,300 29 PI 1,600 2,900
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Related Book For
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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