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Please help... Purchases Journal, Cash Payments Journal, and General Journal Freddy Flint owns a small retail business called Flint's Fantasy. The cash account has a
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Purchases Journal, Cash Payments Journal, and General Journal
Freddy Flint owns a small retail business called Flint's Fantasy. The cash account has a balance of $30,000 on July 1. The following transactions occurred during July:
July 1 | Issued Check No. 414 in payment of July rent, $1,690. |
1 | Purchased merchandise on account from Tang's Toys, Invoice No. 311, $2,900, terms 2/10, n/30. |
3 | Purchased merchandise on account from Sillas & Company, Invoice No. 812, $3,000, terms 1/10, n/30. |
5 | Returned merchandise purchased from Tang's Toys, receiving a credit memo on the amount owed, $400. |
8 | Purchased merchandise on account from Daisy's Dolls, Invoice No. 139, $1,200, terms 2/10, n/30. |
11 | Issued Check No. 415 to Tang's Toys for merchandise purchased on account, less return of July 5 and less 2% discount. |
13 | Issued Check No. 416 to Sillas & Company for merchandise purchased on account, less 1% discount. |
15 | Returned merchandise purchased from Daisy's Dolls, receiving a credit memo on the amount owed, $200. |
18 | Issued Check No. 417 to Daisy's Dolls for merchandise purchased on account, less return of July 15 and less 2% discount. |
25 | Purchased merchandise on account from Allied Business, Invoice No. 489, $2,475, terms n/30. |
26 | Purchased merchandise on account from Tang's Toys, Invoice No. 375, $2,080, terms 2/10, n/30. |
29 | Purchased merchandise on account from Sillas & Company, Invoice No. 883, $3,420, terms 1/10, n/30. |
31 | Freddy Flint withdrew cash for personal use, $2,205. Issued Check No. 418. |
31 | Issued Check No. 419 to Glisan Distributors for a cash purchase of merchandise, $905. |
Required:
1. Record the transactions in the purchases journal, cash payments journal, and general journal. Total and rule the purchases and cash payments journals. Prove the cash payments journal.
If an amount box does not require an entry, leave it blank.
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