Instructions

Journalize entries for the following related transactions of Greenville Heating & Air Company. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not

use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Mar. $1$ Purchased $$51,300$ of merchandise from Foster Co$.$ on account, terms $\frac{2}{10},\frac{n}{30}.$

$9$ Paid the amount owed on the invoice within the discount period.

$11$ Discovered that $$7,300$ of the merchandise purchased on Mar. $1$ was defective and returned items,

receiving credit.

$18$ Purchased $$6,200$ of merchandise from Foster Co$.$ on account, terms $\frac{n}{30}.$

$20$ Received a refund from Foster Co$.$ for return on Mar. $11$ less the purchase on Mar. $18.$ CHART OF ACCOUNTS

Greenville Heating & Air Company

General Ledger

ASSETS

$110$ Cash

$120$ Accounts Receivable

$125$ Notes Receivable

$130$ Merchandise Inventory

$140$ Office Supplies

$141$ Store Supplies

$142$ Prepaid Insurance

$180$ Land

$192$ Store Equipment

$193$ Accumulated Denreciation$-$Store Fquinment

REVENUE

$410$ Sales

$610$ Rent Revenue

EXPENSES

$501$ Cost of Merchandise Sold

$521$ Delivery Expense

$522$ Advertising Expense

$524$ Depreciation Expense$-$Store Equipment

$525$ Depreciation Expense$-$Office Equipment

$531$ Rent Expense $194$ Office Equipment

$195$ Accumulated Depreciation$-$Office Equipment

LIABILITIES

$211$ Accounts Payable$-$Foster Co$.$

$218$ Sales Tax Payable

$219$ Customer Refunds Payable

$220$ Unearned Rent

$221$ Notes Payable

EQUITY

$310$ Owner, Capital

$311$ Owner, Drawing

$533$ Insurance Expense

$534$ Store Supplies Expense

$535$ Office Supplies Expense

$536$ Credit Card Expense

$539$ Miscellaneous Expense

$710$ Interest Expense Journal

Journalize entries for the related March transactions of Greenville Heating & Air Company. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

PAGE $10$

JOURNAL

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