Check my w 3 Problem 8.2A (Static) Recording purchases, purchase returns, purchases discounts, and cash payments for a merchandising firm. LO 8-1 25 points High Country Ski Shop is a retail store that sells ski equipment and clothing. High Country Ski Shop commenced business on September 1, 20X1. The firm purchases merchandise on open account. The firm's purchases, purchase returns and allowances, and cash payments on account during September 20x1 follow: eBook Print DATE TRANSACTIONS 20X1 Sept. 2 Purchased ski boots for $7,600 plus a freight charge of $310 from Colorado Ski Shop, Invoice 6672, terms n/30. 3 Purchased skis for $13,200 from Black Ice Supply Company, Invoice 5916; terms 3/10, n/30. 7 Received Credit Memorandum 165 for $1,100 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672. 11 Purchased ski jackets for $4,000 from Cold Mountain Clothing Company, Invoice 4091, terms n/30. 12 Issued Check 104 to Black Ice Supply Company in payment of Invoice 5916, dated September 3, less the cash discount. 22 Purchased ski poles for $5,760 plus a freight charge of $170 from Black Ice Supply Company, Invoice 5950; terms 3/10, n/30. 23 Purchased ski pants for $3,200 from White Fire Ski Goods, Invoice 528, terms n/30. 25 Received Credit Memorandum 245 for $320 from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528. 27 Purchased ski sweaters for $3,750 plus a freight charge of $200 from Colorado Ski Shop, Invoice 6722, terms n/30. 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7. References Required: Record the transactions in a general journal. Analyze: What was the amount of the cash discount on September 12? Complete this question by entering your answers in the tabs below. General Journal Analyze Mc 4 High Country Ski Shop is a retail store that sells ski equipment and clothing. High Country Ski Shop commenced business on September 1, 20X1. The firm purchases merchandise on open account. The firm's purchases, purchase returns and allowances, and cash payments on account during September 20x1 follow: 25 points eBook DATE TRANSACTIONS 20x1 Sept. 2 Purchased ski boots for $7,600 plus a freight charge of $310 from Colorado Ski Shop, Invoice 6672, terms n/30. 3 Purchased skis for $13,200 from Black Ice Supply Company, Invoice 5916; terms 3/10, 1/30. 7 Received Credit Memorandum 165 for $1,100 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672. 11 Purchased ski jackets for $4,000 from Cold Mountain clothing Company, Invoice 4091, terms n/30. 12 Issued Check 104 to Black Ice Supply Company in payment of Invoice 5916, dated September 3, less the cash discount. 22 Purchased aki poles for $5,760 plus a freight charge of $170 from Black Ice Supply Company, Invoice 5950; terms 3/10, n/30. 23 Purchased ski pants for $3,200 from White Fire Ski Goods, Invoice 528, terms n/30. 25 Received Credit Memorandum 245 for $320 from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528. 27 Purchased ski sweaters for $3,750 plus a freight charge of $200 from Colorado Ski Shop, Invoice 6722, terms n/30. 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7. Print References Required: 2a. Post the transactions to the appropriate accounts in the general ledger. 2b. Post the transactions to the appropriate accounts in the accounts payable ledger. 3. Prepare a schedule of accounts payable. GENERAL LEDGER ACCOUNTS 101 Cash, $29,000 Dr. , 201 Accounts Payable 501 Purchases 502 Freight In 503 Purchases Returns and allowances 504 Purchases Discounts ACCOUNTS PAYABLE LEDGER ACCOUNTS Black Ice Supply Company Cold Mountain Clothing Company Colorado Skl Shop White Fire Ski Goods Analyze: What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item. Complete this question by entering your answers in the tabs below. General Ledgers AP Ledgers Schedule of AP Analyze Check my w 3 Problem 8.2A (Static) Recording purchases, purchase returns, purchases discounts, and cash payments for a merchandising firm. LO 8-1 25 points High Country Ski Shop is a retail store that sells ski equipment and clothing. High Country Ski Shop commenced business on September 1, 20X1. The firm purchases merchandise on open account. The firm's purchases, purchase returns and allowances, and cash payments on account during September 20x1 follow: eBook Print DATE TRANSACTIONS 20X1 Sept. 2 Purchased ski boots for $7,600 plus a freight charge of $310 from Colorado Ski Shop, Invoice 6672, terms n/30. 3 Purchased skis for $13,200 from Black Ice Supply Company, Invoice 5916; terms 3/10, n/30. 7 Received Credit Memorandum 165 for $1,100 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672. 11 Purchased ski jackets for $4,000 from Cold Mountain Clothing Company, Invoice 4091, terms n/30. 12 Issued Check 104 to Black Ice Supply Company in payment of Invoice 5916, dated September 3, less the cash discount. 22 Purchased ski poles for $5,760 plus a freight charge of $170 from Black Ice Supply Company, Invoice 5950; terms 3/10, n/30. 23 Purchased ski pants for $3,200 from White Fire Ski Goods, Invoice 528, terms n/30. 25 Received Credit Memorandum 245 for $320 from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528. 27 Purchased ski sweaters for $3,750 plus a freight charge of $200 from Colorado Ski Shop, Invoice 6722, terms n/30. 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7. References Required: Record the transactions in a general journal. Analyze: What was the amount of the cash discount on September 12? Complete this question by entering your answers in the tabs below. General Journal Analyze Mc 4 High Country Ski Shop is a retail store that sells ski equipment and clothing. High Country Ski Shop commenced business on September 1, 20X1. The firm purchases merchandise on open account. The firm's purchases, purchase returns and allowances, and cash payments on account during September 20x1 follow: 25 points eBook DATE TRANSACTIONS 20x1 Sept. 2 Purchased ski boots for $7,600 plus a freight charge of $310 from Colorado Ski Shop, Invoice 6672, terms n/30. 3 Purchased skis for $13,200 from Black Ice Supply Company, Invoice 5916; terms 3/10, 1/30. 7 Received Credit Memorandum 165 for $1,100 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672. 11 Purchased ski jackets for $4,000 from Cold Mountain clothing Company, Invoice 4091, terms n/30. 12 Issued Check 104 to Black Ice Supply Company in payment of Invoice 5916, dated September 3, less the cash discount. 22 Purchased aki poles for $5,760 plus a freight charge of $170 from Black Ice Supply Company, Invoice 5950; terms 3/10, n/30. 23 Purchased ski pants for $3,200 from White Fire Ski Goods, Invoice 528, terms n/30. 25 Received Credit Memorandum 245 for $320 from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528. 27 Purchased ski sweaters for $3,750 plus a freight charge of $200 from Colorado Ski Shop, Invoice 6722, terms n/30. 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7. Print References Required: 2a. Post the transactions to the appropriate accounts in the general ledger. 2b. Post the transactions to the appropriate accounts in the accounts payable ledger. 3. Prepare a schedule of accounts payable. GENERAL LEDGER ACCOUNTS 101 Cash, $29,000 Dr. , 201 Accounts Payable 501 Purchases 502 Freight In 503 Purchases Returns and allowances 504 Purchases Discounts ACCOUNTS PAYABLE LEDGER ACCOUNTS Black Ice Supply Company Cold Mountain Clothing Company Colorado Skl Shop White Fire Ski Goods Analyze: What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item. Complete this question by entering your answers in the tabs below. General Ledgers AP Ledgers Schedule of AP Analyze