The general ledger of Sparkling Lake Golf Shop includes the following selected accounts, along with their account numbers: E (Click on the icon to view the accounts.) Transactions in December that affected purchases and cash payments follow. (Click on the icon to view the transactions.) Read the requirements Requirements 1, 2, 3. Sparkling Lake Golf Shop records purchase returns in the general journal. Use the appropriate journal to record the transactions in a purchases journal, a cash payments journal (omit the Check No. column), and a general journal. The company uses the perpetual inventory system. Total each column of the special journals. Show that total debits equal total credits in each special journal. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the journals. Begin with the purchases journal. Enter the transactions and total the journal. (If a box is not used in the journal leave the box empty, do not select information and do not enter a zero. Enter "X" if the column total is not posted. Abbreviation used: Supp. = Supplies Assume all postings are made to the applicable ledgers.) Purchases Journal Page 1 Data Table More Info - X Other Accounts DR Vendor Post. Accounts Merchandise Office Account Post. Date Account Credited Terms Ref. Payable CR Inventory DR Supp. DR Title Ref. Amount Number Account Number Account Dec. 2 Purchased merchandise inventory on credit from Troy, $4,100. Terms were 1/10 n/30. 111 Cash 181 Equipment Dec. 3 Paid monthly rent, debiting Rent Expense for $2,900. Dec. 131 Merchandise Inventory 211 Accounts Payable Dec. 5 Purchased office supplies on credit terms of 1/10 n/30 from Ross Supply, $490. 161 Prepaid Insurance 564 Rent Expense Dec. 8 Received and paid electricity utility bill, $510. 171 Office Supplies 583 Utilities Expense Dec. 9 Purchased equipment on account from Alright Equipment, $6,300. Payment terms were n/30 Dec. 10 Returned the equipment to Alright Equipment. It was damaged. Dec. 11 Paid Troy the amount owed on the purchase of December 2. Print Done Purchased merchandise inventory on account from Carver Golf, $4,200. Terms were 2/10 Dec. 12 n/30. Dec. 13 Purchased merchandise inventory for cash, $640. Dec. 14 Paid a semiannual insurance premium, debiting Prepaid Insurance, $1,900. Dec. 31 Totals Dec. 16 Paid its account payable to Ross Supply, from December 5. Dec. 18 Received and paid gas and water utility bills, $600. Dec. 21 Purchased merchandise inventory on credit terms of 1/10, n/45 from Darling, Inc., $3,300. Dec. 21 Paid its account payable to Carver Golf from December 12. Dec. 22 Purchased office supplies on account from Office Sales, Inc., $200. Terms were n/30. Dec. 26 Returned to Darling, Inc. $900 of the merchandise inventory purchased on December 21. Dec. 31 Paid Darling, Inc. the net amount owed from December 21, less the return on December 26. Print Done Total debits = Total credits Purchases journal On Dec. 3, the company paid rent with cash. This entry will record the rent expense in the Other Accounts DR column and payment of cash in the Cash CR column. To identify the other account, we will select "Rent Expense" in the Account Credited column. The first transaction has been entered for you. Record the remaining transactions and total the journal. Remember that payments on accounts payable will be based on the net receivable due after any returns. Payments on account are entered in the Accounts Payable DR column and the Merchandise Inventory CR column (if a purchase discount was taken, as was the case on Dec. 11, 21 and 31). Also, in these cases, the vendor's name will be entered into the "Account Debited" column. Finally, remember that a purchase of merchandise inventory with cash (Dec. 13) will need to be recorded in the Other Accounts DR column because the transaction will require a debit to merchandise inventory. Complete the journal now. (If a box is not used in the journal leave the box empty, do not select information and do not enter a zero.) Page 1 Ck. No. Cash Payments Journal Post. Other Ref. Accounts DR 2,900 Accounts Payable DR Merchandise Inventory CR Account Debited Date Dec Cash CR 2.900 Rent Expense Dec. 31 Totals Total debits Total credits Cash payments journal Date Accounts and Explanation Post. Ref. Debit Credit Dec. 10 The general ledger of Sparkling Lake Golf Shop includes the following selected accounts, along with their account numbers: E (Click on the icon to view the accounts.) Transactions in December that affected purchases and cash payments follow. (Click on the icon to view the transactions.) Read the requirements Requirements 1, 2, 3. Sparkling Lake Golf Shop records purchase returns in the general journal. Use the appropriate journal to record the transactions in a purchases journal, a cash payments journal (omit the Check No. column), and a general journal. The company uses the perpetual inventory system. Total each column of the special journals. Show that total debits equal total credits in each special journal. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the journals. Begin with the purchases journal. Enter the transactions and total the journal. (If a box is not used in the journal leave the box empty, do not select information and do not enter a zero. Enter "X" if the column total is not posted. Abbreviation used: Supp. = Supplies Assume all postings are made to the applicable ledgers.) Purchases Journal Page 1 Data Table More Info - X Other Accounts DR Vendor Post. Accounts Merchandise Office Account Post. Date Account Credited Terms Ref. Payable CR Inventory DR Supp. DR Title Ref. Amount Number Account Number Account Dec. 2 Purchased merchandise inventory on credit from Troy, $4,100. Terms were 1/10 n/30. 111 Cash 181 Equipment Dec. 3 Paid monthly rent, debiting Rent Expense for $2,900. Dec. 131 Merchandise Inventory 211 Accounts Payable Dec. 5 Purchased office supplies on credit terms of 1/10 n/30 from Ross Supply, $490. 161 Prepaid Insurance 564 Rent Expense Dec. 8 Received and paid electricity utility bill, $510. 171 Office Supplies 583 Utilities Expense Dec. 9 Purchased equipment on account from Alright Equipment, $6,300. Payment terms were n/30 Dec. 10 Returned the equipment to Alright Equipment. It was damaged. Dec. 11 Paid Troy the amount owed on the purchase of December 2. Print Done Purchased merchandise inventory on account from Carver Golf, $4,200. Terms were 2/10 Dec. 12 n/30. Dec. 13 Purchased merchandise inventory for cash, $640. Dec. 14 Paid a semiannual insurance premium, debiting Prepaid Insurance, $1,900. Dec. 31 Totals Dec. 16 Paid its account payable to Ross Supply, from December 5. Dec. 18 Received and paid gas and water utility bills, $600. Dec. 21 Purchased merchandise inventory on credit terms of 1/10, n/45 from Darling, Inc., $3,300. Dec. 21 Paid its account payable to Carver Golf from December 12. Dec. 22 Purchased office supplies on account from Office Sales, Inc., $200. Terms were n/30. Dec. 26 Returned to Darling, Inc. $900 of the merchandise inventory purchased on December 21. Dec. 31 Paid Darling, Inc. the net amount owed from December 21, less the return on December 26. Print Done Total debits = Total credits Purchases journal On Dec. 3, the company paid rent with cash. This entry will record the rent expense in the Other Accounts DR column and payment of cash in the Cash CR column. To identify the other account, we will select "Rent Expense" in the Account Credited column. The first transaction has been entered for you. Record the remaining transactions and total the journal. Remember that payments on accounts payable will be based on the net receivable due after any returns. Payments on account are entered in the Accounts Payable DR column and the Merchandise Inventory CR column (if a purchase discount was taken, as was the case on Dec. 11, 21 and 31). Also, in these cases, the vendor's name will be entered into the "Account Debited" column. Finally, remember that a purchase of merchandise inventory with cash (Dec. 13) will need to be recorded in the Other Accounts DR column because the transaction will require a debit to merchandise inventory. Complete the journal now. (If a box is not used in the journal leave the box empty, do not select information and do not enter a zero.) Page 1 Ck. No. Cash Payments Journal Post. Other Ref. Accounts DR 2,900 Accounts Payable DR Merchandise Inventory CR Account Debited Date Dec Cash CR 2.900 Rent Expense Dec. 31 Totals Total debits Total credits Cash payments journal Date Accounts and Explanation Post. Ref. Debit Credit Dec. 10