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Part 1 : Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record
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Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the sale on June in Accounts ReceivableAvery & Wiest.
June Sold merchandise to Avery & Wiest for $; terms FB destination cost of sales $
Purchased $ of merchandise from Angolac Suppliers; terms n FOB shipping point.
Purchased merchandise inventory from Bastille Sales for $; terms n FOB Bastille Sales.
Sold merchandise to Gelgar for $; terms FB destination cost of es $
Collected the amount owing from Avery & Wiest regarding the June sale.
Paid Angolac Suppliers for the June purchase.
Collected the amount owing from Gelgar regarding the June sale.
Paid Bastille Sales for the June purchase.
Prepare General Journal entries to record the above transactions.
Journal entry worksheet
Record the sales; terms n FOB destination.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditJune
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