Exercise 1

Seo-hyeon’s Auto Supply uses special journals and a general journal. The following transactions occurred during September 2020 (amounts in thousands).

Sept. 2   S old merchandise on account to A. Jinwoo, invoice no. 101, NT$620, terms n/30. The cost of the merchandise sold was NT$420.

          10         Purchased merchandise on account from Jeju Company NT$650, terms 2/10, n/30.

          12 Purchased office equipment on account from C. Song NT$6,500.

              21  Sold merchandise on account to New Taiwan Supply Co., invoice no. 102 for NT$800, terms 2/10, n/30. The cost of the merchandise sold was NT$480.

          25      Purchased merchandise on account from Leung Sisters NT$860, terms n/30.

              27  Sold merchandise to Ulsan Company for NT$700 cash. The cost of the merchandise sold was NT$400.

Instructions

a.            Prepare a sales journal (see Illustration G.6) and a single-column purchases journal (see Illustration

G.12). (Use page 1 for each journal.)

Record the transaction(s) for September that should be journalized in the sales journal