Question
Please Help! General Ledger: Requirement 2: Record transactions for October in the general ledger Oct. 1 Issued Check 601 for $4,400 to pay Properties Management,
Please Help! General Ledger:
Requirement 2: Record transactions for October in the general ledger
Oct. 1 Issued Check 601 for $4,400 to pay Properties Management, Inc., the monthly rent.
1 Signed a three-month radio advertising contract with Cable Station KTLE for $5,100; issued Check 602 to pay the full amount in advance.
2 Received $520 from Megan Greening, a credit customer, in payment of her account.
2 Issued Check 603 for $17,820 to remit the sales tax owed for July through September to the State Tax Commission.
2 Issued Check 604 for $7,673.40 to A Fashion Statement, a creditor, in payment of Invoice 9387 ($7,830), less a cash discount ($156.60).
3 Sold merchandise on credit for $2,480 plus sales tax of $124 to Mariam Salib, Sales Slip 241.
4 Issued Check 605 for $1,050 to BMX Supply Co. for supplies.
4 Issued Check 606 for $8,594.60 to Unique Styles, a creditor, in payment of Invoice 5671 ($8,770), less a cash discount ($175.40).
5 Collected $1,700.00 on account from Amy Trinh, a credit customer.
5 Accepted a return of merchandise from Mariam Salib. The merchandise was originally sold on Sales Slip 241, dated October 3; issued Credit Memorandum 18 for $630, which includes sales tax of $30.
5 Issued Check 607 for $1,666 to Classy Threads, a creditor, in payment of Invoice 3292 ($1,700), less a cash discount ($34).
6 Had cash sales of $18,600 plus sales tax of $930 during October 16.
8 Received a check from James Helmer, a credit customer, for $832 to pay the balance he owes.
8 Issued Check 608 for $1,884 to deposit social security tax ($702), Medicare tax ($162), and federal income tax withholding ($1,020) from the September payroll.
9 Sold merchandise on credit for $2,050 plus sales tax of $102.50 to Emma Maldonado, Sales Slip 242.
10 Issued Check 609 for $1,525 to pay The Daily News for a newspaper advertisement that appeared in October.
11 Purchased merchandise for $4,820 from A Fashion Statement, Invoice 9422, dated October 8; the terms are 2/10, n/30.
12 Issued Check 610 for $395 to pay freight charges to Ace Freight Company, the trucking company that delivered merchandise from A Fashion Statement on September 27 and October 11.
13 Had cash sales of $13,200 plus sales tax of $660 during October 813.
15 Sold merchandise on credit for $1,940 plus sales tax of $97 to James Helmer, Sales Slip 243.
16 Purchased discontinued merchandise from Acme Jobbers; paid for it immediately with Check 611 for $5,120.
16 Received $510 on account from Mariam Salib, a credit customer.
16 Issued Check 612 for $4,723.60 to A Fashion Statement, a creditor, in payment of Invoice 9422 ($4,820.00), less cash discount ($96.40).
18 Issued Check 613 for $7,400 to Teresa Lojay as a withdrawal for personal use.
20 Had cash sales of $13,500 plus sales tax of $675 during October 1520.
22 Issued Check 614 to City Utilities for $1,492 to pay the monthly electric bill.
24 Sold merchandise on credit for $820 plus sales tax of $41 to Megan Greening, Sales Slip 244.
25 Purchased merchandise for $3,580 from Classy Threads, Invoice 3418, dated October 23; the terms are 2/10, n/30.
26 Issued Check 615 to Regional Telephone for $940 to pay the monthly telephone bill.
27 Had cash sales of $14,240 plus sales tax of $712 during October 2227.
29 Received Credit Memorandum 175 for $430 from Classy Threads for defective goods that were returned. The original purchase was recorded on October25.
29 Sold merchandise on credit for $3,450 plus sales tax of $172.50 to Amy Trinh, Sales Slip 245.
29 Recorded the October payroll. The records prepared by the payroll service show the following totals: earnings, $10,800; social security, $702.00; Medicare, $162.00; income tax, $1,020; and net pay, $8,916. The excess withholdings corrected an error made in withholdings in September.
29 Recorded the employers payroll taxes, which were calculated by the payroll service: social security, $702; Medicare, $162; federal unemployment tax, $118; and state unemployment tax, $584. This, too, reflects an understatement of taxes recorded in September and corrected in this month.
30 Purchased merchandise for $4,080 from Unique Styles, Invoice 5821, dated October 26; the terms are 1/10, n/30.
31 Issued Checks 616 through 619, totaling $8,916.00, to employees to pay October payroll.
31 Issued Check 620 for $525 to A+ Janitors for October janitorial services.
31 Had cash sales of $1,800 plus sales tax of $90 for October 2931.
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