BELLWETHER GARDEN SUPPLY PROJECT

Restore the Exercise 6-2 file. Then, answer the following questions about Bellwether Garden Supply.

1.Examine Bellwether Garden Supply's chart of accounts. Are all of the account types in conformance with usual accounting procedures? If not, list the accounts that could be classified differently.

2.What is the balance in Account No. 89500, Purchase Disc-Expense Items? Is it a debit or credit balance? Why? (Hint: Display the General Ledger report; select Options. In the Time Frame period, select All. Select the filter GL Account ID from 89500 to 89500.) Explain.

3.How do you compute the sales discount? How does Sage 50 compute the sales discount?

4.How do you change a sales discount?

5.What types of entries are recorded in Bellwether's general journal?