Question
Problem 5A-3A Your answer is partially correct.Try again.Tamarisk Corporation makes blenders (its merchandise) and entered into the following transactions during the month of September 2017.
Problem 5A-3A
Your answer is partially correct.Try again.Tamarisk Corporation makes blenders (its merchandise) and entered into the following transactions during the month of September 2017.
Sept.2Purchased merchandise from Jones Company on credit for $3,770. Credit terms were 2/10, n/30.3Paid $250 for the delivery charges on the merchandise purchased on September 2.5Purchased merchandise from Moses Company on credit for $4,030. Credit terms were 3/10, n/30.6Sold merchandise for cash, $1,410.8Purchased store equipment for $8,800 from Santa Corporation. A down payment of $3,200 was made, and a note was signed for the remaining balance.9Sold merchandise on credit to Stephanie Company for $1,010. The credit terms of the sale were 3/15, n/45.10Returned $270 of defective merchandise to Jones Company and received the appropriate credit.11Sold merchandise on credit to Michael Company for $1,700. The credit terms of the sale were 4/10, n/60.12Paid the balance due to Jones Company for the September 2 purchase.15Paid the employees' salaries of $11,200.16Paid the balance due to Moses Company for the September 5 purchase.18Stephanie Company returned damaged merchandise to the company and received credit of $210.22Received full payment from Michael Company for the September 11 sale.23The company paid $490 for advertising.23Received full payment from Stephanie Company for the September 9 sale.25Issued a check for full payment for the note given to Santa Corporation for the purchase made on September 8.28Purchased merchandise for cash, $3,500.
Using the periodic inventory system, prepare the entries in the general journal for the above transactions. Omit explanations. (Credit account titles are automatically indented when the amount is entered.Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
Date Account Titles and Explanation Debit Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started