A)

2) Merchandise sold for 120.000 TL on account + VAT %10. Customer issued a note for VAT. Cost of goods sold is 66.000TL. Freight out is 7.500 TL + %10 , paid cash.

3) Merchandise purchase which was ordered in April , was 137.000 TL + VAT %10 . Advance payment of 40.000 TL was made in April. Purchase order is delivered by supplier (vendor). Freight in is 11.500 TL + %10 VAT. Purchase balance is on account. Freight in paid by endorsing a customer check.

4) Acording to Bank Credit Memorundum (Memo), 126.000 TL , Company check is collected by the holder.

5) Land is purchased for 1.395.000 TL + 10% VAT from Real Estate Company. Half check and half note is issued for the purchase invoice . Real Estate commisson Expense is 40.000 +%10 VAT is on account . Property Tax 12.000 TL is paid cash .

6) Merchandise sold for 90.000 USD (Dollar)+ %10 VAT And collected a note for sale and VAT paid cash . USD (Dolar)Rateis,7.40TL/USD. Costofgoodssoldis380.000TL.

In May 2020 TOMBK CO. Made The following business transactions. Make the journal entries for those

transactions.

1)Merchandise purchased for 155.000TL + %10 VAT andnoteendorsed. andalso12.000TLfreightispaid by the vendor .

1

7) 165.000 TL transfered to the vendor by bank for closing the account

8) 180.000. TL cash is paid for 18 month rent contract ,starting First of September 2020 .

9) Machinary purchased for 502.200 + %10 VAT. 1/4 paid cash, and balance is closed, by issuing a note. Installation and Adjusment expense 76.000 TL + %10 VAT is paid by endorsing a check.

10) Foreign Currency Sale Customer transferred 15.000 USD by bank. USD rate is 7.55 TL /USD.

11) 110 .000 TL is transferred by the customer ,to the Bank as an advance for 275.000TL + %10 VAT merchandise order.

12) Merchandise return to vendor is 60.000 TL + 10% VAT. Vendor issued a check for return merchandise.

13) Order Delivered to customer and Balance is on account. Customer is also paid cash 9.000 TL for tranportation and insurance (Freight out).

14) Electricity and gas invoice total is 15.000 + %10 VAT is paid.

15) At the end of the month USD rate is 7.25 TL/USD