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REVENUE 410 Sales 610 Interest Revenue Chart of Accounts ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 131 Estimated Returns Inventory

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REVENUE 410 Sales 610 Interest Revenue Chart of Accounts ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment EXPENSES 510 Cost of Merchandise Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 211 Accounts Payable-Caesar Salad Co. 212 Accounts Payable-Hoagie Co. 213 Accounts Payable-Taco Co. 214 Accounts Payable-UK Imports Co. 215 Accounts Payable-Veggie Co. 216 Salaries Payable 218 Sales Tax Payable 219 Customers Refunds Payable 221 Notes Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary x Journal Instructions The following selected transactions were completed by Capers Company during October of the current year: Oct. 1 3 3 Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30. Purchased merchandise from Hoagie Co., 59,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice. Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30. Journalize the entries to record the transactions of Capers Company for October. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 4 6 Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase on October 4. PAGE 10 13 Paid Hoagie Co. for invoice of October 3. JOURNAL ACCOUNTING EQUATION 14 Paid Taco Co. for invoice of October 4 less debit memo of October 6. DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 19 1 19 Purchased merchandise from Veggie Co., $27,300, terms FOB shipping point, n/eom. Paid freight of $400 on October 19 purchase from Veggie Co. Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10,n/30. 2 20 3 30 Paid Caesar Salad Co. for invoice of October 20 4 31 Paid UK Imports Co. for invoice of October 1. 31 5 5 Paid Veggie Co. for invoice of October 19 6 7 8 Journalize the entries to record the transactions of Capers Company for October. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 9 10 11 12 13 14

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