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Derek Dempsey owns a retail furniture store. The books include a cash payments journal and an accounts payable ledger. All cash payments ( except petty
Derek Dempsey owns a retail furniture store. The books include a cash payments journal and an accounts payable ledger. All cash payments except petty cash are entered in the cash payments journal.
Selected account balances as of July are as follows:
General Ledger Accounts Payable Ledger
Cash $ Middle Town Co $
Accounts Payable Montauk Unlimited
Rolling Hills & Co
Sunrise Inc.
The following are transactions related to cash payments during the month of July:
July Issued Check No in payment of July rent Rent Expense $
Issued Check No to Montauk Unlimited in payment of merchandise purchased on account $ less a cash discount. Check was written for $
Issued Check No to Rolling Hills & Co in partial payment for merchandise purchased on account, $ A cash discount was not allowed.
Issued Check No to Middle Town Co for merchandise purchased on account $ less a discount. Check was written for $
Issued Check No to City Power and Light Utilities Expense $
Issued Check No to Oak Warehouse for a cash purchase of merchandise, $
Issued Check No to Sunrise Inc. for merchandise purchased on account, $ less a cash discount. Check was written for $
Issued Check No to Central Freight Lines for freight charges on merchandise purchased FreightIn $
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