Cubex Corporation uses special journals and a general journal. The following transactions occurred during April 2020. April
Question:
Cubex Corporation uses special journals and a general journal. The following transactions occurred during April 2020.
April 5 Sold merchandise on account to Mr.Golmes invoice no 102, AED 560 terms n/15. The cost of merchandise sold was AED 380.
April 8Purchased merchandise on Account from ABC Corporation AED 860, terms 3/15, n/45.
April 15 Purchased office equipment on account from Zelant AED 8200.
April 22 Sold merchandise on account to Hit Corporation invoice no 102 for AED 700, terms 2/15, 2/30. The cost of merchandise sold was AED 565.
April 25 Purchased merchandise on account from Xavier AED 945, terms n/60.
April 29Sold merchandise to A.Johnson for AED 900 cash. The cost of the merchandise sold was AED 750.
i) Prepare a sales journal and a single column purchases journal.[3 Marks]
ii) Record the transactions for April that should be journalized in thesales journal and the purchases journal[3 Marks]
Cubex Corporation uses special journals and a general journal. The following transactions occurred during April 2020.
April 5 Sold merchandise on account to Mr.Golmes invoice no 102, AED 560 terms n/15. The cost of merchandise sold was AED 380.
April 8Purchased merchandise on Account from ABC Corporation AED 860, terms 3/15, n/45.
April 15 Purchased office equipment on account from Zelant AED 8200.
April 22 Sold merchandise on account to Hit Corporation invoice no 102 for AED 700, terms 2/15, 2/30. The cost of merchandise sold was AED 565.
April 25 Purchased merchandise on account from Xavier AED 945, terms n/60.
April 29Sold merchandise to A.Johnson for AED 900 cash. The cost of the merchandise sold was AED 750.
i) Prepare sales journal and a single column purchases journal.[3 Marks]
ii) Record the transactions for April that should be journalized in thesales journal and the purchases journal[3 Marks]
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