Nature Gnome Company is a service based company that rents canoes for use on local lakes and rivers. At the beginning of the new year, Nature Gnome Company decided to carry and sell T-shirts with its logo printed on them. Nature Gnome Company uses the perpetual inventory system to account for the inventory. During January 2019, Nature Gnome Company completed the following merchandising transactions: (Click the icon to view the transactions.) Read the requirements. Requirements 1 and 2. Enter the transactions in a sales journal (page 2), a cash receipts journal (page 5, omit Sales Discounts Forfeited column), a purchases journal (page 7), a cash payments journal (page 6), and a general journal (page 4), as appropriate. Total each column of the special journals. Show that total debits equal total credits in each special journal. For purposes of this problem, we will ignore posting references. Begin with page 2 of the sales journal. Enter the transactions and total the journal. (Round all amounts to the nearest whole dollar. If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) Sales Journal Page Invoice Customer Post. Accounts Receivable DR Cost of Goods Sold DR Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR 2019 Jan 10 1,280 1,690 2,803 21 1,876 30 6,098 4,313 Jan. 31 Totals 10,591 7,469 Show how total debits equal total credits. Total debits S 18,060 Total credits $ 18,060 Sales journal = Page 5 Post. Cash Receipts Journal Accounts Sales Cash DR Rec. CR Rev. CR Other Cost of Goods Sold DR Date Account Credited Ref. Accts CR Merchandise Inv. CR 2019 Jan. 2 44 44 30 12 1,690 1,690 23 2,803 2,803 31 6,098 6,098 8 Merchandise Inventory 60 60 Jan. 31 Totals 10,695 10,591 44 60 30 Show how total debits equal total credits. Total debits Total credits Cash receipts journal $ 10,725 $ 10,725 Now complete page 7 of the purchases journal. Enter the transactions and total the journal. (If a box is not used in the table, leave the box empty; do not select a label or enter a zero. Do not enter a "0" for zero balances. Abbreviations used: Pa Inv. = Inventory, Supp. = Supplies) Purchases Journal Page 7 Other Accounts DR Vendor Account Office Account Post. Post. Accounts Merchandise Ref. Pay. CR Inv. DR Date Credited Terms Supp. DR Title Ref. Amount 2019 Jan. 3 1,760 1,760 14 1/10, n/30 4/15, n/30 1/10, n/30 2,100 2,100 5,280 25 5,280 Jan. 31 Totals 9,140 9,140 Show how total debits equal total credits. Total debits Total credits Purchases journal $ 9,140 $ 9,140 Next complete page 6 of the cash payments journal. Enter the transactions and total the journal. (Round all amounts to the nearest whole dollar. If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) Cash Payments Journal Page 6 Date Ck. Post. Accounts Merchandise Other Accounts DR 2019 No. Account Debited Ref. Payable DR Inventory CR Cash CR Jan. 1 Merchandise Inventory 90 90 7 1,760 18 1,742 20 1,980 79 1,901 27 Merchandise Inventory 33 33 29 5,280 53 5,227 Jan. 31 Totals 123 9,020 150 8,993 Show how total debits equal total credits. Total debits Total credits Cash payments journal $ 9,143 $ 9,143 Jan. 1 Purchased 6 T-shirts at $15 each and paid cash. 2 Sold 2 T-shirts for $22 each, total cost of $30. Received cash. 3 Purchased 110 T-shirts on account at $16 each. Terms 1/10, n/30. 7 Paid the supplier for the T-shirts purchased on January 3, less discount. 8 Realized 4 T-shirts from the January 1 order were printed wrong and returned them for a cash refund. 10 Sold 80 T-shirts on account for $22 each, total cost of $1,280. Terms 4/15, n/45. 12 Received payment for the T-shirts sold on account on January 10, less discount. 14 Purchased 140 T-shirts on account at $15 each. Terms 4/15, n/30. 18 Nature Gnome Company called the supplier from the January 14 purchase and told them that some of the T-shirts were the wrong color. The supplier offered a $120 purchase allowance. 20 Paid the supplier for the T-shirts purchased on January 14, less the allowance and discount. 21 Sold 130 T-shirts on account for $22 each, total cost of $1,876. Terms 2/20, n/30. 23 Received a payment on account for the T-shirts sold on January 21, less discount. 25 Purchased 330 T-shirts on account at $16 each. Terms 1/10, n/30, FOB shipping point. 27 Paid freight associated with the January 25 purchase, $33. 29 Paid for the January 25 purchase, less discount. 30 Sold 280 T-shirts on account for $22 each, total cost of $4,313. Terms 1/10, n/30. 31 Received payment for the T-shirts sold on January 30, less discount. Finally complete the required entries to page 4 of the general journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Jan. 18: Nature Gnome Company called the supplier from the January 14 purchase and told them that some of the T-shirts were the wrong color. The supplier offered a $120 purchase allowance. General Journal Page 4 Date Accounts Debit Credit Jan. 18 Accounts Payable Cash payme Accounts Receivable Finally comp Cash Cost of Goods Sold Jan. 18: Nati Merchandise Inventory d debits first, then credits. Exclude expla rchase and told them that some of the T- Sales Revenue Page 4 Date Service Revenue Debit Credit Jan. 18 Nature Gnome Company is a service based company that rents canoes for use on local lakes and rivers. At the beginning of the new year, Nature Gnome Company decided to carry and sell T-shirts with its logo printed on them. Nature Gnome Company uses the perpetual inventory system to account for the inventory. During January 2019, Nature Gnome Company completed the following merchandising transactions: (Click the icon to view the transactions.) Read the requirements. Requirements 1 and 2. Enter the transactions in a sales journal (page 2), a cash receipts journal (page 5, omit Sales Discounts Forfeited column), a purchases journal (page 7), a cash payments journal (page 6), and a general journal (page 4), as appropriate. Total each column of the special journals. Show that total debits equal total credits in each special journal. For purposes of this problem, we will ignore posting references. Begin with page 2 of the sales journal. Enter the transactions and total the journal. (Round all amounts to the nearest whole dollar. If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) Sales Journal Page Invoice Customer Post. Accounts Receivable DR Cost of Goods Sold DR Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR 2019 Jan 10 1,280 1,690 2,803 21 1,876 30 6,098 4,313 Jan. 31 Totals 10,591 7,469 Show how total debits equal total credits. Total debits S 18,060 Total credits $ 18,060 Sales journal = Page 5 Post. Cash Receipts Journal Accounts Sales Cash DR Rec. CR Rev. CR Other Cost of Goods Sold DR Date Account Credited Ref. Accts CR Merchandise Inv. CR 2019 Jan. 2 44 44 30 12 1,690 1,690 23 2,803 2,803 31 6,098 6,098 8 Merchandise Inventory 60 60 Jan. 31 Totals 10,695 10,591 44 60 30 Show how total debits equal total credits. Total debits Total credits Cash receipts journal $ 10,725 $ 10,725 Now complete page 7 of the purchases journal. Enter the transactions and total the journal. (If a box is not used in the table, leave the box empty; do not select a label or enter a zero. Do not enter a "0" for zero balances. Abbreviations used: Pa Inv. = Inventory, Supp. = Supplies) Purchases Journal Page 7 Other Accounts DR Vendor Account Office Account Post. Post. Accounts Merchandise Ref. Pay. CR Inv. DR Date Credited Terms Supp. DR Title Ref. Amount 2019 Jan. 3 1,760 1,760 14 1/10, n/30 4/15, n/30 1/10, n/30 2,100 2,100 5,280 25 5,280 Jan. 31 Totals 9,140 9,140 Show how total debits equal total credits. Total debits Total credits Purchases journal $ 9,140 $ 9,140 Next complete page 6 of the cash payments journal. Enter the transactions and total the journal. (Round all amounts to the nearest whole dollar. If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) Cash Payments Journal Page 6 Date Ck. Post. Accounts Merchandise Other Accounts DR 2019 No. Account Debited Ref. Payable DR Inventory CR Cash CR Jan. 1 Merchandise Inventory 90 90 7 1,760 18 1,742 20 1,980 79 1,901 27 Merchandise Inventory 33 33 29 5,280 53 5,227 Jan. 31 Totals 123 9,020 150 8,993 Show how total debits equal total credits. Total debits Total credits Cash payments journal $ 9,143 $ 9,143 Jan. 1 Purchased 6 T-shirts at $15 each and paid cash. 2 Sold 2 T-shirts for $22 each, total cost of $30. Received cash. 3 Purchased 110 T-shirts on account at $16 each. Terms 1/10, n/30. 7 Paid the supplier for the T-shirts purchased on January 3, less discount. 8 Realized 4 T-shirts from the January 1 order were printed wrong and returned them for a cash refund. 10 Sold 80 T-shirts on account for $22 each, total cost of $1,280. Terms 4/15, n/45. 12 Received payment for the T-shirts sold on account on January 10, less discount. 14 Purchased 140 T-shirts on account at $15 each. Terms 4/15, n/30. 18 Nature Gnome Company called the supplier from the January 14 purchase and told them that some of the T-shirts were the wrong color. The supplier offered a $120 purchase allowance. 20 Paid the supplier for the T-shirts purchased on January 14, less the allowance and discount. 21 Sold 130 T-shirts on account for $22 each, total cost of $1,876. Terms 2/20, n/30. 23 Received a payment on account for the T-shirts sold on January 21, less discount. 25 Purchased 330 T-shirts on account at $16 each. Terms 1/10, n/30, FOB shipping point. 27 Paid freight associated with the January 25 purchase, $33. 29 Paid for the January 25 purchase, less discount. 30 Sold 280 T-shirts on account for $22 each, total cost of $4,313. Terms 1/10, n/30. 31 Received payment for the T-shirts sold on January 30, less discount. Finally complete the required entries to page 4 of the general journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Jan. 18: Nature Gnome Company called the supplier from the January 14 purchase and told them that some of the T-shirts were the wrong color. The supplier offered a $120 purchase allowance. General Journal Page 4 Date Accounts Debit Credit Jan. 18 Accounts Payable Cash payme Accounts Receivable Finally comp Cash Cost of Goods Sold Jan. 18: Nati Merchandise Inventory d debits first, then credits. Exclude expla rchase and told them that some of the T- Sales Revenue Page 4 Date Service Revenue Debit Credit Jan. 18