Directions: Por each of the following involces, determine the last date on which the discount can be taken and the amount of the discount. Invoice Invoice Credit Last Day of Amount Date Amount Terms Discount Period of Discount 1. May 15 $1,479.50 2/10, n/30 1. Score 2. 2. June 16 510,351.20 2/15, n/50 $339.04 3. July 7 2/10, n/30 3. 4. October 28 $3,065.46 1/10, n/60 5. December 7 $540.99 n/30 2. Directions: Below are several purchases and cash payments transactions of Campbell Home Furnishings. Record the transactions on page 44 of the general journal. Transactions: Oct. 1 Pald to Seltz Insurance $2,400.00 for the premium on a one-year insurance policy, Check 445. S Purchased merchandise on account from Best Inc., $2,300.00, Invoice 302, terms 2/10, n/30. 6 12 Issued Check 446 for $350.00 to Halliday Transport for shipping charges on merchandise purchased from Best Inc. Purchased office supplies for cash, $125.00, Check 447. Issued Check 448 for $2,254.00 to Best Inc. for merchandise purchased on account, $2,300.00 less a cash discount of $46.00. 14 19 23 Purchased a new computer on account from CMS Systems, $2,250.00, Invoice 0190, terms net 30. Received Invoice 149 from LaChine Corporation for merchandise purchased on account, $1,675.00, credit terms 1/10, 1/45. Issued Debit Memo 101 to LaChine Corporation for $395.00 in defective merchandise returned. 28 30 Recorded bankcard fees of $177.50, October bank statement. Name Period Name Date Class Chapter Test cont. GENERAL JOURNAL PAGE 44 DATE DESCRIPTION POST REF DEBIT CREDIT 1 3 5 7 10 10 11 12 12 13 14 15 16 17 18 10 21 -- a 24 13 1 9 33 la la la la le la la la la la la ls 20 ZT . 29 30 31 10 Chapter Test Date Name Chapter Test cont Problem 3 Directions: Post the transactions from Problem 2 to the general and subsidiary ledger accounts that follow GENERAL LEDGER 205 ACCOUNT NO. ACCOUNT Accounts Payable POST LANCE DATE DESCRIPTION REF DEBIT CREDIT DEST CREDIT 20 Oct 1 Balance da sool 501 ACCOUNT NO. ACCOUNT Purchases BALANCE CREDIT POST REF DEBIT CREDIT DESCRIPTION DEBIT DATE 20- 1507100 Oct. 1 Balance ACCOUNT Transportation in ACCOUNT NO. SOS BALANCE DEBIT CREDIT POST REF CREDIT DATE DESCRIPTION DENT 20 1 Balance Dald doo ACCOUNT NO. 510 ACCOUNT Purchases Discounts POST REF BALANCE CREDIT DESCRIPTION DATE DEBIT CREDIT DEBIT 20- Oct. 1 Balance z z oo ACCOUNT Purchases Returns and Allowances ACCOUNT NO. 515 BALANCE DEBIT CREDIT POST. REF. DATE DESCRIPTION DEBIT CREDIT 20- Oct. 1 Balance i sooo Chapter Test 11 Class Date Name Chapter Test cont. ACCOUNTS PAYABLE SUBSIDIARY LEDGER Restler Name Address 1214 West Broadway, Louisville, KY 40201 POST REF CREDIT DEBIT BALANCE DESCRIPTION DATE Name CMS Systems Address 416 Main Street, Rocky Mount, NC 27802 POST REF DATE DESCRIPTION DEBIT CREDIT BALANCE 20- Oct 1 Balance 27 Soc! Name La Chine Corporation Address PO Box 4612, Roanoke Rapids, NC 27870 POST REF DATE DESCRIPTION DEBIT CREDIT BALANCE 20.. Copyright The Mer Companies, the reserved. Oct. 1 Balance 75 00