ON MARCH 1 SATHER CO SOLD MERCHANDISE TO BOONE CO ON ACCOUNT $28,200 TERMS 2/15, n/30
ransactions for buyer and seller Chart of Accounts-Sather Co. Chart of Accounts-Boone Co. Instructions On March 1, Sather Co. sold merchandise to Boone Co. on account, $28,200, terms 2/15, 1/30. The cost of the merchandise sold is 517.500. The merchandise was paid for on March 14. Assume all discounts are taken Required: Journalize the entries for Sather Co. and Boone Co. for the sale, purchase, and payment of amount due. Refer to the appropriate company's Chart of Accounts for exact wording of account titles Chart of Accounts-Boone Co. Instructions Chart of Accounts-Sather Co. ASSETS 110 Cash REVENUE 410 Sales 121 Accounts Receivable-Boone Co. 610 Rent Revenue 125 Notes Receivable 130 Merchandise Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 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 180 Land 192 Store Equipment 193 Accumulated Depreciation Store Equipment Chart of Accounts-Boone Co. nstructions Chart of Accounts-Sather Co. 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 218 Sales Tax Payable 219 Customers Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY actions for buyer and seller ructions urt of Accounts-Sather Co. ZIV ACCOUNTS Tayable 218 Sales Tax Payable 219 Customers Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Owner, Capital 311 Owner Drawing 312 Income Summary Instructions Chart of Accounts-Sather Co. Chart of Accounts-Boone Co. General Ledger ASSETS 110 Cash REVENUE 410 Sales 610 Rent Revenue 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment EXPENSES 501 Cost of Merchandise Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment ructions art of Accounts-Sather Co. art of Accounts-Boone Co. 192 Store Equipment 193 Accumulated Depreciation Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment 525 Depreciation Expense-Office Equipment 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 211 Accounts Payable-Sather Co. 218 Sales Tax Payable 219 Customers Refunds Payable 220 Unearned Rent 221 Notes Payable ctions of Accounts-Sather Co. of Accounts-Boone Co. 211 ACCOUNts Payable-Sauler Co. 218 Sales Tax Payable 219 Customers Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary Transactions for buyer and seller Instructions Chart of Accounts.Sather coChart OF ACCOUNts Booneca Instructions Chart of Accounts-Sather Co. Chart of Accounts-Boone Co. Journal-Sather Co. Journalize the entries for Sather Co. for the sale on March 1 and payment of the amount due on March 14. Refer to the appropriate company's Chart of Accoun wording of accountities ACCOUNTING EQU JOURNAL LUTE OSTRE DESCRIPTION Transactions for buyer and seller Instructions Chart of Accounts-Sather co X X X Instructions Chart of Accounts-Sather Co. Chart of Accounts-Boone Co. Journal-Sather Co Journal-Boone Co. Journalize the entries for Boone Co. for the purchase on March 1 and payment of the amount due on March 14. Refer to the appropriate company's Chart of AC exact wording of account titles ACCOUNTING EQU JOURNAL POSTRES DESCRIPTION
