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HOW TO JOURNALIZE THE FOLLOWING TRANSACTIONS IN THE PROPER SPECIAL JOURNAL (RECORD ONCE) General journal sales journal cash receipts journal purchase journal cash payments journal

HOW TO JOURNALIZE THE FOLLOWING TRANSACTIONS IN THE PROPER SPECIAL JOURNAL (RECORD ONCE)

General journal

sales journal

cash receipts journal

purchase journal

cash payments journal

image text in transcribed
Assignment 4 Question and Templates - Sept 2017 Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial v 14 AA ab Wrap Text General ZY AY- O. Paste BIUVV DVAv E Merge & Center v $ ~ % " Conditional Format Cell Insert Delete Format Sort & X v Filter Find 8 Ideas Formatting as Table Styles Select 120 X V fx A B C D E F G H I J K L M N O P Q R S T U W N Assignment 4 Below are the transactions for October 2018, for The Brown Company. Owner, Sam Smith has asked you the office manager to record the transactions into the correct journal. He has supplied you with the following journals, General Journal, Sales Journal, Cash Receipts Journal, Purchase Journal and Cash Payments Journal Transactions: 10 2 Owner made a cash investment into the company $26,000 11 2 Purchased merchandise on account from Racks Co., invoice No. 743. Terms 2/10, n/30, $700. 12 3 Paid this months' rent, $920 to the landlord Shifty Rentals Inc., cheque 202 13 3 Sold $2,500 of merchandise on account to H. Holand, sales invoice No. 1, terms 1/10, n/30. Cost of goods sold $1,400 14 4 Purchased merchandise on account from Gary Co., invoice No.819. Terms 3/15, n/45, $1,500. 15 5 Sold $1,200 of merchandise on account to T. Traer, sales invoice No. 2, terms 1/10, n/30. Cost of Goods Sold $550. 16 6 Issued debit memorandum No. 101 to Racks Co. for damaged goods re: invoice No. 743, $ 300 17 8 Bought supplies on account from Staples for $100, Invoice # 325, term n/30. 18 10 Paid salaries, $700, cheque 203 19 10 Sent cheque No. 204 to Racks Co. for invoice No. 743 less returns and discount. 20 |13 Received cash from H. Holand in payment for October 3 transaction, less the discount. 21 14 Issued credit memo No. 1 to T. Traer for $100 for merchandise returned from Oct 5 sale on account. Cost of goods returned $25. 22 15 Paid for supplies purchased on October 8, cheque 205 23 15 Received cash from T. Traer for the amount due, less the returns and discount. 24 17 Sent cheque No. 206 to Gary Co. for invoice No. 819 less discount. 25 21 Received Bell Co. telephone bill, to be paid later, $50, term n/30. 26 21 Purchased merchandise on account from Racks Co., invoice No. 784. Terms 2/10, n/30, $1,050. 27 23 Sold $500 merchandise for cash, sales invoice No. 3. Cost of goods sold $250. 28 24 Purchased merchandise from Saw Co. for $1,000 with cheque 207 29 29 Sold $3,600 of merchandise to C Happy FOB shipping point, Invoice no 4, terms 1/10, n/30. Cost of goods sold $1,800. 30 29 C. Happy was unhappy with some of the goods and returned $300 debit memo 103. Cost of goods returned $150. 31 30 C. Happy paid her account in full today less returns and discount 32 31 Withdrew $400 from the business, cheque 208 33 31 Puchased new computer system from IBM computer solutions for $7,800, Invoice 6285. 34 Paid cash $6,300 (chq #209) and put the remaining balance on account. Terms n/30. 35 36 Question General Journal Sales Journal Cash Receipts Journal Purchase Journal Cash Payments Journal + + 100%

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