Question
Assignment 3 : Special Journals Required: Based on the transactions listed below, record each of the following in the appropriate journal - Sales Journal, Purchases
Assignment 3 : Special Journals
Required: Based on the transactions listed below, record each of the following in the appropriate journal - Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal. Do not use a General Journal. Use the format shown in the June 21 class to set up the four journals.
June, 2022:
1) You open a retail shoe sales business by investing $800,000 in cash
2) You withdraw $1000 from business for personal use.
3) Paid monthly rent, $2500. Check # 100.
4) Purchased merchandise on account, $20,000, from Arlo's Shoe Emporium. Invoice # 101
5) Sold merchandise on account, $200 to Arleen Dow. Invoice # 201.
6) Sold merchandise on account, $400 to Felinda Fender. Invoice #202.
7) Purchased merchandise on account, $10,000, from Shoe Rite, Inc. Invoice # 102.
9) Borrowed $20,000 from the bank - issued a notes payable.
12) Refer to March 4 transaction. Made $2000 payment to Arlo's Shoe Emporium. Check # 101
14) Refer to March 7 transaction. Made $1000 payment to Shoe Rite. Check # 102
17) Refer to March 5 transaction. You receive $50 on account from Arleen Dow.
19) Refer to March 6 transaction. Received $100 on account from Felinda Fender.
20) Purchased equipment for cash, $4000. Check # 103
23) Paid telephone bill, $100. Check # 104
25) Sold merchandise for cash, $600, plus $60 sales tax.
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