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476 PART 3 CASH PAYMENTS JOURNAL Sam Santiago operares a retail variety store. The b P 12-11A (LO5) Total Cash Cr:$30,984 include a cash payments
476 PART 3 CASH PAYMENTS JOURNAL Sam Santiago operares a retail variety store. The b P 12-11A (LO5) Total Cash Cr:$30,984 include a cash payments journal and an accounts payable ledger. All cash payme (except petty cash) are entered in the cash payments journal Selected account balances on May 1 are as follows: General Ledger Cash Accounts Payable $40,000 20,000 Accounts Payable Ledger $5,200 3,800 Fantastic Toys Goya Outlet Mueller's Distributors Van Kooning 7,400 The following are the transactions related to cash payments for the month of Ma 3 Issued Check No. 427 to Mueller's Distributors in payment of merchands 7 Issued Check No. 428 to Van Kooning in partial payment of merchandie May 1 Issued Check No. 426 in payment of May rent (Rent Expense), $2,400 purchased on account, $3,600, less a 3% discount-Check was written for $3,492 purchased on account, $5,500. A cash discount was not allowed. 12 Issued Check No. 429 to Fantastic Toys for merchandise purchased on account, $5,200, less a 1% discount. Check was written for $5,148 15 Issued Check No. 430 to Cary Power and Light (Utilities Expense), $1.,0 18 Issued Check No. 431 to A-1 Warehouse for a cash purchase of merchandis $4,800 $3,800, less a 2% discount. Check was written for $3,724 merchandise purchased (Freight-In), $1,200 dise, $3,000 26 Issued Check No. 432 to Goya Outlet for merchandise purchased on accoul 30 Issued Check No. 433 to Mercury Transit Company for freight charges on 31 Issued Check No. 434 to Town Merchants for a cash purchase of E 12-1B ( REQUIRED 1. Enter the transactions in a cash payments journal. Total, rule, and prove the payments joumal. 2. Post from the cash payments journal to the general ledger and accounts pa ledger, Use general ledger account numbers as shown in the chapter P 12-12A (Lo4 E12-2B ( Sept. 1: Dr.A
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