Check IF all journal entries have been entered correctly. Correct the journal entries WHERE applicable. 1.Purchase Invoice
Question:
Check IF all journal entries have been entered correctly. Correct the journal entries WHERE applicable.
1.Purchase Invoice #BH-5621 Dated June 2, 2020
From Badlands Hardware, $155 plus $7.75 GST paid for paint and stencils to add
logos to dumpsters. Purchase invoice total $162.75. Terms: net 20 days.
2.Bank Credit Memo #RDT-C4778 Dated June 3, 2020
From Red Deer Trust, $40 000 bank loan secured for purchase of additional large
dumpster bins. Loan deposited into bank account. Create new Group account
2250 Bank Loan.
3.Purchase Invoice #HC-7655 Dated June 3, 2020
From Hoodoos Containers, $35 550 plus $1 777.50 GST to purchase additional
dumpsters. Purchase invoice total $37 327.50. Terms: net 30 days.
4.Memo #1 Dated June 4, 2020
From Owner: The invoice from Badlands Hardware was entered incorrectly. The
cost of the supplies was $170 plus $8.50 GST paid. The revised purchase invoice
total is $178.50. Adjust the posted invoice to make the correction.
5.Payment Cheque #488 Dated June 5, 2020
To Red Deer Promotions, $2 940 in payment of invoice #RDP-8668.
6.Receipt #120 Dated June 5, 2020
From Redbird Brothers, cheque #98 for $5 880 in payment of invoice #BB-351.
7.Sales Invoice #BB-363 Dated June 6, 2020
To Watershed Insurance (new customer), $6 400 plus $320 GST charged for
dumpster rentals for flood damage cleanup. Sales invoice total $6 720. Terms:
net 20 days. Create new Group account 1260 A/R - Watershed Insurance.
8.Purchase Invoice #SM-6111 Dated June 6, 2020
From Sylvan Motors, $960 plus $48 GST paid for lube, oil and filter changes for
three trucks. Purchase invoice total $1 008. Terms: net 30 days. Create new
Group account 2200 A/P - Sylvan Motors.
9.Bank Debit Memo #RDT-D3691 Dated June 8, 2020
From Red Deer Trust, $129 for bank service charges.
10.Purchase Invoice #WD-4499 Dated June 10, 2020
From Western Data , $840 plus $42 GST paid for new dispatch and scheduling
software. Purchase invoice total $882. Terms: net 10 days. Create new Group
account 2220 A/P - Western Data.
11.Cheque #489 and Memo #2 Dated June 11, 2020
Binh paid his business telephone bill from his personal chequing account. He
wrote cheque #489 for $361.20 to reimburse himself for this expense. The
telephone bill was $344 plus $17.20 GST.
12.Payment Cheque #490 Dated June 11, 2020
To Hoodoos Containers, $37 327.50 in full payment of account. Reference invoice
#HC-7655.
13.Receipt #121 Dated June 12, 2020
From Ontime Contracting, cheque #58821 for $2 730 in full payment of invoice
#BB-338.
14.Sales Invoice #BB-364 Dated June 14, 2020
To Piper Creek Mall, $3 800 plus $190 GST charged for dumpster rentals during
renovations. Sales invoice total $3 990. Terms: net 30 days.
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