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At the beginning of the current season on June 1, the ledger of Mantra Pro Shop showed Cash $3,000; Inventory $4,000; and Owner's Capital $7,000.
At the beginning of the current season on June 1, the ledger of Mantra Pro Shop showed Cash $3,000; Inventory $4,000; and | |||||||
Owner's Capital $7,000. These transactions ocurred during June 2019. | |||||||
June 7 | Purchased golf bags on account from Zulemma Co. $2,500, FOB shipping point, term 2/10,n/60. | ||||||
9 | Paid freight on Zulemma Co. purchases $75. | ||||||
11 | Received credit from Zulemma Co. for merchandise returned $1,100. | ||||||
13 | Sold merchandise on account to members $800, terms n/30. The cost of the merchandise sold was $650 | ||||||
15 | Purchased golf shoes, polos, and other accessories on account from Lastre Sportswear $1,000, terms 1/10,n/30. | ||||||
16 | Paid Zulemma Co in full. | ||||||
20 | Received credit from Lastre Sportswear for merchandise returned $150 | ||||||
22 | Made sales on account to members $900, terms n/30. The cost of the merchandise sold was $450. | ||||||
24 | Paid Lastre Sportswear in full | ||||||
25 | Granted credit to members for clothing that had flaws $50. | ||||||
29 | Received payment on account from members $900. |
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