chapter 12 mastery problem

shop engaged in Total Accounts Receivable : $7,235 51.60.plus October 1 balance cholesalers, 54,300. MASTERY PROBLEM During the month of October 20-, The Pink Petal flower sh following transactions Oct. Sold merchandise on account to Elizabeth Shoemaker of $50. Sale No. 222. 2 Issued Check No. 190 to Jul Hand in payment of October of $500, less 2% discount 2 Purchased merchandise on account from Flower Wholes Invoice No. 500, dated October 2, terms 2/10, n/30 4 Purchased merchandise on account from Seidl Enterprises No. 527, dated October 4, terms 2/15, 1/30. 5 Issued Check No. 191 in payment of phone expense for the of September, $150. 7 Sold merchandise for cash, $3,500, plus tax of $175. 9 Received payment from Leigh Summers in full settlement of a 11 Issued Check No. 192 to Flower Wholesalers in payment of ises, 5700. se for the month c ent of account, 52.00 yment of October 1 balance of $1,500. 12 Sold merchandise on account to Leigh Summers, $2,000, plus of $100. Sale No. 223. 12 Received payment from Meg Johnson on account, S3,100. 12 Received payment from Mo 13 Issued Check No. 193 to Seidl Enterprises in payment of October purchase. Invoice No. 527, less 2% discount. 14 Meg Johnson returned merchandise for a credit, $300, plus sales tay of $15. 17 Returned merchandise to Vases Etc. for credit, $900. 24 Received payment from David's Decorating on account, $2,135. 27 Sold merchandise on account to David's Decorating, $3,000, plus tax of $150. Sale No. 224. 29 Issued Check No. 194 in payment of wages (Wages Expense) for the four-week period ending October 30, $900. Selected account balances as of October 1 were as follows: Account Account No. Debit Credit Cash 101 $18,225 Accounts Receivable 1229 ,619 Accounts Payable 202 $5,120 The Pink Petal also had the following subsidiary ledeer balances as of Octo Accounts Receivable: Customer David's Decorating 12 Jude Lane Hartford, CT 06117 Accounts Receivable Balance $3,340 CHAPTER U Asing our wedge 485 $ 279 Elizabeth Shoemaker 52 Juniper Road Hartford, CT 06118 Meg Johnson 700 Hobbes Dr. Avon, CT 06108 Leigh Summers 5200 Hamilton Ave. Hartford, CT 06111 4,000 500 2,000 Accounts Puryable: Vendor Accounts Payable Balance Vases Etc. 34 Harry Ave. East Hartford, CT 05234 $3,120 Jill Hand 1009 Drake Rd. Farmington, CT 06082 Flower Wholesalers 43 Lucky Lane Bristol, CT 06007 1,500 Seidl Enterprises 888 Anders Street Newington, CT 06789 REQUIRED 1. Record the transactions in a sales journal (page 7), cash receipts journal (page 10), purchases journal (page 6), cash payments journal (page 11), and general journal (page 5). Total, verify, and rule the columns where appropriate at the end of the month. 2. Post from the journals to the general ledger, accounts receivable ledger, and accounts payable ledger accounts. Use account numbers as shown in the chapter. es you CHALLENGE PROBLEM shop engaged in Total Accounts Receivable : $7,235 51.60.plus October 1 balance cholesalers, 54,300. MASTERY PROBLEM During the month of October 20-, The Pink Petal flower sh following transactions Oct. Sold merchandise on account to Elizabeth Shoemaker of $50. Sale No. 222. 2 Issued Check No. 190 to Jul Hand in payment of October of $500, less 2% discount 2 Purchased merchandise on account from Flower Wholes Invoice No. 500, dated October 2, terms 2/10, n/30 4 Purchased merchandise on account from Seidl Enterprises No. 527, dated October 4, terms 2/15, 1/30. 5 Issued Check No. 191 in payment of phone expense for the of September, $150. 7 Sold merchandise for cash, $3,500, plus tax of $175. 9 Received payment from Leigh Summers in full settlement of a 11 Issued Check No. 192 to Flower Wholesalers in payment of ises, 5700. se for the month c ent of account, 52.00 yment of October 1 balance of $1,500. 12 Sold merchandise on account to Leigh Summers, $2,000, plus of $100. Sale No. 223. 12 Received payment from Meg Johnson on account, S3,100. 12 Received payment from Mo 13 Issued Check No. 193 to Seidl Enterprises in payment of October purchase. Invoice No. 527, less 2% discount. 14 Meg Johnson returned merchandise for a credit, $300, plus sales tay of $15. 17 Returned merchandise to Vases Etc. for credit, $900. 24 Received payment from David's Decorating on account, $2,135. 27 Sold merchandise on account to David's Decorating, $3,000, plus tax of $150. Sale No. 224. 29 Issued Check No. 194 in payment of wages (Wages Expense) for the four-week period ending October 30, $900. Selected account balances as of October 1 were as follows: Account Account No. Debit Credit Cash 101 $18,225 Accounts Receivable 1229 ,619 Accounts Payable 202 $5,120 The Pink Petal also had the following subsidiary ledeer balances as of Octo Accounts Receivable: Customer David's Decorating 12 Jude Lane Hartford, CT 06117 Accounts Receivable Balance $3,340 CHAPTER U Asing our wedge 485 $ 279 Elizabeth Shoemaker 52 Juniper Road Hartford, CT 06118 Meg Johnson 700 Hobbes Dr. Avon, CT 06108 Leigh Summers 5200 Hamilton Ave. Hartford, CT 06111 4,000 500 2,000 Accounts Puryable: Vendor Accounts Payable Balance Vases Etc. 34 Harry Ave. East Hartford, CT 05234 $3,120 Jill Hand 1009 Drake Rd. Farmington, CT 06082 Flower Wholesalers 43 Lucky Lane Bristol, CT 06007 1,500 Seidl Enterprises 888 Anders Street Newington, CT 06789 REQUIRED 1. Record the transactions in a sales journal (page 7), cash receipts journal (page 10), purchases journal (page 6), cash payments journal (page 11), and general journal (page 5). Total, verify, and rule the columns where appropriate at the end of the month. 2. Post from the journals to the general ledger, accounts receivable ledger, and accounts payable ledger accounts. Use account numbers as shown in the chapter. es you CHALLENGE