This is a 12 page Accounting Question. I cannot post the entire question as it is too large of a file. This is 1 part of MANY. I only need the two-column general journal now as I figured out the cash payments journal part on my own! Please fill in the answers in a table or some format that I, as a non-accounting major, will understand. Thanks so much!
10,000 3 5 7 8 9 10 11 13 15 15 16 17 Sell merchandise on account to B. Corpas $3,700, invoice no. 510, and to I. Revere $1,500, invoice no. 511. Purchase merchandise from S. Gamel $5,000 and D. Posey $2,500, terms 1/30. Receive checks from S. Mahay $4,100 and B. Santos $2.000 after discount period has lapsed. Pay freight on merchandise purchased $230. Send checks to S. Meek for $3,500 less 2% cash discount, and to D. Saito for $10,000 less 1% cash discount. Issue credit of $300 to ). Revere for merchandise returned. Daily cash sales from January 1 to January 10 total $15,500. Make one journal entry for these sales. Sell merchandise on account to R. Beltre $1,200, invoice no. 512, and to S. Mahay $900, invoice no. 513. Pay rent of $1,400 for January. Recerve payment in full from B. Corpas and J. Revere less cash discounts. Withdraw $800 cash by M. Sunland for personal use. Post all entries to the subsidiary ledgers. Purchase merchandise from D. Saito $15,000, terms 1/10, n/30; S. Meek $14,600, terms 2/10, n/30; and S. Gamel $1,500, terms 1/30. Pay $800 cash for office supplies. Return $400 of merchandise to S. Meek and receive credit. Daily cash sales from January 11 to January 20 total $20,100. Make one journal entry for these sales. Issue $17,000 note, maturing in 90 days, to R. Moses in payment of balance due. Receive payment in full from S. Mahay less cash discount. Sell merchandise on account to B. Corpas $2,700, invoice no. 514, and to R. Beltre $2,100, invoice no. 515. Post all entries to the subsidiary ledgers. Send checks to D. Sa to and S. Meek in full payment less cash discounts. Sell merchandise on account to B. Santos $4,000, invoice no. 516, and to ). Revere $6,900, invoice no. 517. Purchase merchandise from D. Saito $14,100, terms 1/10, 1/30; D. Posey $3,500, terms n/30; and S. Gamel $5,100, terms n/30. Post all entries to the subsidiary ledgers. Pay $200 cash for office supplies. Daily cash sales from January 21 to January 31 total $23,100. Make one journal entry for these sales. Pay sales salaries $4,400 and office salaries $3,000. 20 21 22 22 23 27 28 31 papers. Presented below are a series of transactions for Sunland Co. for the mo GENERAL LEDGER Account Number 101 112 115 120 126 Account Title Cash Accounts Receivable Notes Receivable Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Owner's Capital January 1 Opening Balance $34,250 13,300 41,000 15,000 1,000 1,500 7,350 1,600 35,500 76,300 130 157 158 201 Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) January 1 Customer Opening Balance R. Beltre $1,700 B. Santos 7,500 S. Mahay 4,100 Schedule of Accounts Payable (from accounts payable subsidiary ledger) January 1 Customer Opening Balance S. Meek $8,500 R. Moses 17,000 D. Saito 10,000 Your answer is partially correct. Try again. Record the January transactions in a two-column general joumal. (Credit account titles are automatically indented when the amount the order presented in the problem.) GNHINT RESOURCES 14. Module 3 petence S ent: Part 8 ply the concept of cial journals to unting data) Accounting Oy Review 7-01 al. Date Account Titles and Explanation Debit Credit jew Score iew Results by Study (Issued credit for merchandise returned.) (Cost of merchandise returned.) Jan. 1871 (Received credit for returned goods.) (Payment of balance due.) 10,000 3 5 7 8 9 10 11 13 15 15 16 17 Sell merchandise on account to B. Corpas $3,700, invoice no. 510, and to I. Revere $1,500, invoice no. 511. Purchase merchandise from S. Gamel $5,000 and D. Posey $2,500, terms 1/30. Receive checks from S. Mahay $4,100 and B. Santos $2.000 after discount period has lapsed. Pay freight on merchandise purchased $230. Send checks to S. Meek for $3,500 less 2% cash discount, and to D. Saito for $10,000 less 1% cash discount. Issue credit of $300 to ). Revere for merchandise returned. Daily cash sales from January 1 to January 10 total $15,500. Make one journal entry for these sales. Sell merchandise on account to R. Beltre $1,200, invoice no. 512, and to S. Mahay $900, invoice no. 513. Pay rent of $1,400 for January. Recerve payment in full from B. Corpas and J. Revere less cash discounts. Withdraw $800 cash by M. Sunland for personal use. Post all entries to the subsidiary ledgers. Purchase merchandise from D. Saito $15,000, terms 1/10, n/30; S. Meek $14,600, terms 2/10, n/30; and S. Gamel $1,500, terms 1/30. Pay $800 cash for office supplies. Return $400 of merchandise to S. Meek and receive credit. Daily cash sales from January 11 to January 20 total $20,100. Make one journal entry for these sales. Issue $17,000 note, maturing in 90 days, to R. Moses in payment of balance due. Receive payment in full from S. Mahay less cash discount. Sell merchandise on account to B. Corpas $2,700, invoice no. 514, and to R. Beltre $2,100, invoice no. 515. Post all entries to the subsidiary ledgers. Send checks to D. Sa to and S. Meek in full payment less cash discounts. Sell merchandise on account to B. Santos $4,000, invoice no. 516, and to ). Revere $6,900, invoice no. 517. Purchase merchandise from D. Saito $14,100, terms 1/10, 1/30; D. Posey $3,500, terms n/30; and S. Gamel $5,100, terms n/30. Post all entries to the subsidiary ledgers. Pay $200 cash for office supplies. Daily cash sales from January 21 to January 31 total $23,100. Make one journal entry for these sales. Pay sales salaries $4,400 and office salaries $3,000. 20 21 22 22 23 27 28 31 papers. Presented below are a series of transactions for Sunland Co. for the mo GENERAL LEDGER Account Number 101 112 115 120 126 Account Title Cash Accounts Receivable Notes Receivable Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Owner's Capital January 1 Opening Balance $34,250 13,300 41,000 15,000 1,000 1,500 7,350 1,600 35,500 76,300 130 157 158 201 Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) January 1 Customer Opening Balance R. Beltre $1,700 B. Santos 7,500 S. Mahay 4,100 Schedule of Accounts Payable (from accounts payable subsidiary ledger) January 1 Customer Opening Balance S. Meek $8,500 R. Moses 17,000 D. Saito 10,000 Your answer is partially correct. Try again. Record the January transactions in a two-column general joumal. (Credit account titles are automatically indented when the amount the order presented in the problem.) GNHINT RESOURCES 14. Module 3 petence S ent: Part 8 ply the concept of cial journals to unting data) Accounting Oy Review 7-01 al. Date Account Titles and Explanation Debit Credit jew Score iew Results by Study (Issued credit for merchandise returned.) (Cost of merchandise returned.) Jan. 1871 (Received credit for returned goods.) (Payment of balance due.)
