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12-6 CHALLENGE PROBLEM Journalizing and posting business transactions The general, accounts payable, and accounts receivable ledgers for Custom Golf Land Working Papers Instructions: 1.
12-6 CHALLENGE PROBLEM Journalizing and posting business transactions The general, accounts payable, and accounts receivable ledgers for Custom Golf Land Working Papers Instructions: 1. Journalize the following transactions completed during October of the current yea journal similar to the one described in this chapter. Add an 8% sales tax to all scie Source documents are abbreviated as follows: check, C; memorandum, M; purcha receipt, R; sales invoice, S; cash register tape, T. Transactions: Oct. 2. Wrote a check for rent, $1,150.00. C263. 3. Received an invoice from Vista Golf Co. for merchandise purchased a P71. 4. Paid for merchandise, $142.80. C264. on a 6. A check was received in payment on account from Viola Davis, $829 445 7. Eagle Golf Equipment was paid on account, $2,358.00, covering P67.C 7. Cash and credit card sales, $5,676.00. T7. Posting. Post the items that are to be posted individually. 9. Julie Freed, partner, withdrew merchandise for personal use, $200.00. N 11. Merchandise was sold on account to Doris McCarley, $306.00. $49 13. Store supplies were bought on account from Golf Source, $258.00. MGA 14. Cash and credit card sales, $5,808.00. T14. Posting. Post the items that are to be posted individually. 16. Cash was withdrawn by Julie Freed, partner, for personal use, $1,500.00 16. Cash was withdrawn by Troy Nordstrom, partner, for personal use, $1,500 17. Wrote a check for electric bill, $220.20. C268. 20. Wrote a check to Vista Golf Co. on account, $3,216.00, covering P68 C 21. Recorded cash and credit card sales, $5,376.00. T21. Posting. Post the items that are to be posted individually. 23. Design Golf was paid on account, $2,916.00, covering P69. C270. 24. Barry Fuller bought merchandise on account, $1,315.00. $50. 24. Received payment on account from Leona Silva, $285.12, covering S CHAPTER 12 Posting to General and Subsidiary Ledgers
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