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The following transactions of Buffalo Pharmacies occurred during 2 0 1 5 and 2 0 1 6 ( Click the icon to view the transactions.
The following transactions of Buffalo Pharmacies occurred during and
Click the icon to view the transactions.
Journalize the transactions in Buffalo's general journal. Explanations are not required. Record debits first, then credits. Exclude explanations from journal entries.
Jan. : Purchased computer equipment at a cost of $ signing a sixmonth, note pa
tableDateAccounts and Explanation,Debit,CreditComputer Equipment,Jan ShortTerm Notes Payable,,
Jan. : Recorded the week's sales of $ threefourths on credit and onefourth for ca
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Jan. Purchased computer equipment at a cost of $ signing a sixmonth, note payable for that amount.
Recorded the week's sales of $ threefourths on credit and onefourth for cash. Sales amounts are subject to a state sales tax. Ignore cost of goods sold.
Feb. Sent the last week's sales tax to the state
Jul. Paid the sixmonth, note, plus interest, at maturity.
Aug. Purchased merchandise inventory for $ signing a sixmonth, note payable. The company uses the perpetual inventory system.
Dec. Accrued warranty expense, which is estimated at of sales of $
Accrued interest on all outstanding notes payable.
Feb. Paid the sixmonth note, plus interest, at maturity.
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