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DATE TRANSACTIONS September 2 , 2 0 1 Purchased ski boots for $ 7 , 6 0 0 plus a freight charge of $ 3
DATE TRANSACTIONS September Purchased ski boots for $ plus a freight charge of $ from Colorado Ski Shop, Invoice terms September Purchased skis for $ from Alaska Supply Company, Invoice ; terms n September X Received Credit Memorandum for $ from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September on Invoice September X Purchased ski jackets for $ from Cold Mountain Clothing Company, Invoice terms n September Issued Check to Alaska Supply Company in payment of Invoice dated September less the cash discount. September X Purchased ski poles for $ plus a freight charge of $ from Alaska Supply Company, Invoice ; terms September Purchased ski pants for $ from White Fire Ski Goods, Invoice terms September Received Credit Memorandum for $ from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September on Invoice September X Purchased ski sweaters for $ plus a freight charge of $ from Colorado Ski Shop, Invoice terms September Issued Check to Colorado Ski Shop in payment of Invoice dated September less the return of September Required: a Post the transactions to the appropriate accounts in the general ledger. b Post the transactions to the appropriate accounts in the accounts payable ledger. Prepare a schedule of accounts payable. GENERAL LEDGER ACCOUNTS Cash, $ Debit Accounts Payable Purchases Freight In Purchases Returns and Allowances Purchases Discounts ACCOUNTS PAYABLE LEDGER ACCOUNTS Alaska Supply Company Cold Mountain Clothing Company Colorado Ski 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.
DATE
TRANSACTIONS
September Purchased ski boots for $ plus a freight charge of $ from Colorado Ski Shop, Invoice terms
September Purchased skis for $ from Alaska Supply Company, Invoice ; terms n
September X Received Credit Memorandum for $ from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September on Invoice
September X Purchased ski jackets for $ from Cold Mountain Clothing Company, Invoice terms n
September Issued Check to Alaska Supply Company in payment of Invoice dated September less the cash discount.
September X Purchased ski poles for $ plus a freight charge of $ from Alaska Supply Company, Invoice ; terms
September Purchased ski pants for $ from White Fire Ski Goods, Invoice terms
September Received Credit Memorandum for $ from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September on Invoice
September X Purchased ski sweaters for $ plus a freight charge of $ from Colorado Ski Shop, Invoice terms
September Issued Check to Colorado Ski Shop in payment of Invoice dated September less the return of September
Required:
a Post the transactions to the appropriate accounts in the general ledger.
b Post the transactions to the appropriate accounts in the accounts payable ledger.
Prepare a schedule of accounts payable.
GENERAL LEDGER ACCOUNTS
Cash, $ Debit
Accounts Payable
Purchases
Freight In
Purchases Returns and Allowances
Purchases Discounts
ACCOUNTS PAYABLE LEDGER ACCOUNTS
Alaska Supply Company
Cold Mountain Clothing Company
Colorado Ski 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.
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