Question
Janish Supplies completed the transactions listed below during April 2020. All sales are on terms 2/10, n/30. April2 Sold merchandise to Tim Bennett for $35,000
Janish Supplies completed the transactions listed below during April 2020. All sales are on terms 2/10, n/30.
April2 Sold merchandise to Tim Bennett for $35,000 on credit; invoice #306 (cost $22,750).3 Cash sales for the day totalled $15,000; invoices #307 to #310 (cost $9,750).4 Purchased $48,000 of merchandise from Wallace Brothers; terms 1/10, n/30.5 Sold merchandise to Brian Kennedy for $42,000 on credit; invoice #311 (cost $27,300).6 Returned $4,200 of defective merchandise purchased on April 4.9 Purchased $230 of office supplies; cheque #620.11 Purchased $56,000 of merchandise from McKinley & Sons; terms n/30.12 Received payment from Tim Bennett regarding the sale of April 2.13 Paid for the merchandise purchased on April 4; cheque #621.16 Sold merchandise to Wynne Walsh for $14,000 on credit; invoice #312 (cost $9,100).19 Issued a credit memo regarding a $3,000 allowance granted to Wynne Walsh to cover defective merchandise sold on April 16.20 Received payment from Brian Kennedy for the sale of April 5.23 Purchased $3,800 of equipment from Zardon Company; terms 1/15, n/30.24 Sold merchandise to Brian Kennedy for $18,000 on credit; invoice #313 (cost $11,700).26 Paid for the purchase of April 11; cheque #622.27 Received payment from Wynne Walsh regarding the sale of April 16.30 Paid April salaries; $36,000; cheque #623. For simplicity, we assume one cheque.
Required:
1-2.Journalize the April transactions into the appropriate journal assuming perpetual inventory system.(Enter the transactions in the order provided in the question.)
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