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Please show amounts with if its credit or debit PURCHASES AND CASH PAYMENTS TRANSACTIONS Emily Frank owns a small retail business called Frank's Fantasy. The
Please show amounts with if its credit or debit
PURCHASES AND CASH PAYMENTS TRANSACTIONS Emily Frank owns a small retail business called Frank's Fantasy. The cash account has a balance of $21,000 on July l. following transactions occurred during July: July I 11 15 25 26 29 Issued Check No. 414 in payment of July rent, S2,500. Purchased merchandise on account from -I-Illy' Toys, Invoice NO. 311, $2,800, terms 2/10, n/30. Purchased merchandise on account from Scheer Company, Invoice No. 812, $3,300, terms 1/10, n,'30. Returned merchandise purchased from Tilly's Toys, receiving a credit memo on the amount owed, S300. Purchased merchandise on account from Donna's Dolls, Invoice NO. 139, S2,900, terms 2/10, Issued Check No. 41 S to Toys for merchandise purchased on account, less return of July 5 and less 2% discount. Issued Check No. 416 to Scheer Company for merchandise pur chased on account, less 1% discount. Returned merchandise purchased from Donn* Dolls, receiving a credit memo on the amount owed, S3S0. Issued Check No. 417 to Donna's Dolls for merchandise purchased on account, less return Of July 15 and less discount. Purchased merchandise on account from Applied Business, Invoice No. 489, $2,650, terms n/30. Purchased merchandise on account from Tlllys Toys, Invoice No. 375, $2,180, terms 2/10, 11/30. Purchased merchandise on account from Scheer sc Company, Invoice No. 883, S3,S60, terms 1/10, 11/30. REQUIRED l. Enter the starting with page 16 of a general journal. 2. Post from the journal to the general ledger and accounts payable ledger accounts. Use general ledger account numbers as shown in the chapter.
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