December 2019

• December 1^st Purchased 25 bottles @ $6.05 each for cash
• December 4^th Purchase on credit $12,000 baking supplies
• December 5^th Pay employees accrue wages 11/30
• December 10^th Pay telephone bill accrued on 11/30
• December 10^th - Record payment of baking supplies purchased on 11/10
• December 15^th Accrue employee wages 45 hours (straight time) @12.00/hour
• December 15^th Pay monthly rent in cash
• December 15^th purchase miscellaneous supplies for cash $300
• December 15^th Purchase for cash 30 bottles @ 6.00 each
• December 15^th Sold 22 bottles @ $8.50 for cash ( use FIFO for inventory)
• December 20^th Purchase for cash 20 bottles @ $6.08 each
• December 20^th Pay employee wages accrued 12/15
• December 30^th Sold 22 bottles @ 8$8.50 each (use FIFO)
• December 30^th Record telephone bill $45 (due and paid next month)
• December 30^th Record December bakery sales paid to Peyton in cash, $30,000
• December 31^st Accrue employee wages for w.e. 12/31 @ 40 hours /12.00 hour
• December 31^st - Pay in cash $2,500 dividends to owner10/31

  	Peyton Approved
  	General Journal Entries
  	Dec-19
  	Date	Accounts	Debit	Credit

November 2019 November 5th - Pay telephone bill accrue 10/30 November 10th - Pay employee wages accrued on 10/30 November 10th - Pay baking supplies purchased on credit 10/12 November 10th - Purchase baking supplies on credit $10,000 due next month . November 15th - Accrue wages for week ended 11/15 @ 35 hours 12.00/per hour . November 15th - Purchase for cash S300 miscellaneous supplies November 15th. Paid November rent, $1,500 in cash November 15th - Purchase 10 bottles (merchandise inventory) @ 6.00 each November 20th - Sold 8 bottles $8.50 (record transaction assuming FIFO) for cash November - Purchase 20 bottles @ 6.05 each for cash . November 20th-Pay employees accrued on 11/15 November 30th - Sold 18 bottles @ $8.50 each for cash . November 30th - Record telephone bill $45, paid 12/5 November 30th - Accrue wages w.e. 11/30 30 hours @ 12.00/hour November Both Record November sales S25,000 received by Peyton in cash November 30th - Pay owner dividends in cash $2.500 20th