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must use the headings from this list. thanks! Question 2 [20 points] Barton Corporation allows a few customers to make purchases on credit. Other customers

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Question 2 [20 points] Barton Corporation allows a few customers to make purchases on credit. Other customers may use their BancFirst credit card, which deducts a 4% service charge for sales on its credit card and credits the chequing accounts of its commercial customers immediately when credit card receipts are deposited. Barton Corporation deposits the BancFirst receipts at the close of each business day, Barton Corporation completed the following transactions during the month of January, 2014(assume a perpetual inventory system) (a) January 4 : Merchandise that cost $5,120, was sold to customers using their BancFirst credit cards for $6,400. (b) January 9 Barton Corporation sold merchandise to Susan Montgomery for $1,500 under credit terms of 2/10, 1/60, FOB destination. The merchandise had cost $1,275 (c) March 10 : Received the balance due from Susan Montgomery for the sale dated January 9. Record all transactions related to these purchases in the journal provided. It is recommended that you record these transactions in order Enter the letter of the transaction as the description for the journal entry. Dates must be entered in the format dd/mmm (15/Jan). General Journal Account/Explanation Date Pago GJA Credit Debit + - + - + 1 + + - Choose an Account or Heading -gories: Accounts and Headings: Accounts payable ts Accounts receivable, BancFirst lities Accounts receivable, Susan Montgomery Accumulated depreciation, automobiles uity Accumulated depreciation, boats venues Accumulated depreciation, building penses Accumulated depreciation, equipment ner Accumulated depreciation, furniture Accumulated depreciation, land improvement Accumulated depreciation, machinery Accumulated depreciation, trucks Advertising expense Advertising payable Allowance for doubtful accounts Auto expense Automobiles Bad debts expense Bank service charge expense Search: Erase Cancel Choose an Account or Heading ategories: Accounts and Headings: II DUU UEDs Expense Bank service charge expense ssets Boats iabilities Equity Bonds payable Equity Building Cash Revenues Cash over and short Expenses Commissions earned Other Consulting revenue earned Copyright Cost of goods sold Credit card expense Delivery expense Depreciation expense Depreciation expense, automobiles Depreciation expense, boats Depreciation expense, building Depreciation expense, equipment Search: Erase Cancel Choose an Account or Heading ategories: Accounts and Headings: I Depreciation expense, furniture Assets Depreciation expense, land improvements Liabilities Depreciation expense, machinery Equity Depreciation expense, trucks Equity Dividends Revenues Equipment Expenses Food and drinks expense Other Furniture Income summary Income taxes expense Income taxes payable Insurance expense Interest earned Interest expense Interest payable Interest receivable Investment in bonds Lanitorial oynanca Search: Erase Cancel Choose an Account or Heading Categories: Accounts and Headings: ANI Janitorial expense Assets Land Liabilities Land improvements Equity Long-term investment in shares Equity Long-term notes payable Revenues Machinery Expenses Merchandise inventory Other Mortgage payable INotes receivable Office salaries expense Office supplies Office supplies expense Patents Petty cash Postage expense Prepaid advertising Prepaid insurance Y Prepaid interest Search: Erase Cancel Choose an Account or Heading ories: Accounts and Headings: Prepara interest 5 Prepaid rent cies Property taxes expense Property taxes payable ty Rent earned nues Rent expense enses Rent expense, office space er Rent expense, selling space Rent payable Rent receivable Repair expense Retained earnings Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Sales salaries expense Search: Erase Cancel Choose an Account or Heading Categories: Accounts and Headings: I (Retained earings issets Salaries expense Liabilities Salaries payable Equity Sales Equity Sales discounts Revenues Sales returns and allowances Expenses Sales salaries expense Other Share capital Short-term notes payable Store supplies expense Supplies Supplies expense Trademark Trucks Unearned consulting revenue Unearned rent Unearned revenue Utilities expense Search: Erase Cancel

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