What are the answers for questions A-G??

ACCT 300 Practice Set #4 60 Points Shannon Distributors, which sells on terms of 2/10,n/30, had the following transactions during October, the first month of the current accounting year. Oct. 1 Paid October rent, $500. Check No. 200 2 Paid Sprague, Inc., 5686 for merchandise purchased September 28. A 2% discount was taken. Check No. 201 3 Issued checks of $450 to Davis Company and $950 to Lenz Suppliers, both creditors. No discount was taken on these amounts. Checks No. 202 and No. 203. 7 Sold merchandise on account to Lyons, Inc., $550. Invoice No. 470. CG S:200 8 Received checks in payment of accounts as follows: Lyons, Inc., $392: Thomas Company, $900; and White Company, $294. Discounts had been taken by Lyons, Inc., and White Company. 9 Sold merchandise on account to Thomas Company, $750, Invoice No. 471. CGS 5200 10 Issued check for freight to Ruan Freight, Inc., on Thomas Company shipment, $50, terms EO.B. destination. Check No. 204. 11 Issued credit memorandum to Thomas Company for merchandise returned, $150. CGS - 360 14 Purchased merchandise on account from Davis Company, $800, terms 1/10, 1/60 15 Issued check for freight to Arrow Transport on purchase from Davis Company, $35, terms EO.B. shipping point. Check No. 205. 15 Paid office salaries, $1,800. Checks No. 206 and No. 207 for $900 each for L. Voss and C. Downs. 16 Received check in payment of Cooper Company account, $650. 17 Received check from Lyons, Inc., in payment of October 7 shipment, $539. 18 Purchased store supplies, 590, equipment, $600; and office supplies, $70, on account from Lenz Suppliers, terms 1 30. 21 Paid Davis Company for October 14 purchase, $792. Check No. 208. 22 Paid miscellaneous expenses, $45. Check No. 209. 28 Purchased merchandise on account from Sprague, Inc., $1,500, terms 2/15, n/60. 29 Returned $300 worth of merchandise to Sprague, Inc., for credit. 30 Sold merchandise on account to White Company, $1,375. Invoice No. 472. CAS = 450 31 Sold merchandise for cash to R. Nolan, $250. CGS - $75 31 Collected miscellaneous income from Dunn Advertising for use of bill- board space, $350. NAME SECTION DATE Chapter 7 P7-5B Reqs. 1 and 4 GENERAL LEDGER ACCOUNT JRNL REF ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT JRNL REF ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT JRNL REF. ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT JRNL. REF ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT 424 NAME SECTION DATE Chapter 7 P7-5B Continued ACCOUNT INVENTORY DATE ITEM URNL REF ACCOUNT NO BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ITEM JANL REF ACCOUNT NO. BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT ACCOUNT NO BALANCE DEBIT CREDIT DATE JRNL REF ITEM DEBIT CREDIT ACCOUNT BATE ACCOUNT NO. BALANCE DEBIT CREDIT JANL REF ITEM DEBIT CREDIT 425 ctrl alt NAME SECTION DATE Chapter 7 P7-5B Conting ACCOUNT DATE ITEM JANL REF ACCOUNT NO BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ACCOUNT NO. BALANCE DEBIT CREDIT JANL REF. ITEM DEBIT CREDIT ACCOUNT JANL ACCOUNT NO BALANCE DEBIT CREDIT DATE ITEM REF DEBIT CREDIT ACCOUNT DATE ACCOUNT NO. BALANCE DEBIT CREDIT JRNL REF. ITEM DEBIT CREDIT 426 NAME SECTION DATE Chapter 7 P7-5B. Conta ACCOUNT ACCOUNT NO BALANCE DEBIT DATE JRNL REF. ITEM DEBIT CREDIT CREDIT ACCOUNT ACCOUNT NO BALANCE DEBIT CREDIT DATE JANL REF. ITEM DEBIT CREDIT CREDIT ACCOUNT ACCOUNT NO. BALANCE DEBIT CREDIT JANL REF. DATE ITEM DEBIT CREDIT ACCOUNT JRNL ACCOUNT NO BALANCE DEBIT CREDIT DATE ITEM REF DEBIT CREDIT 426 NAME SECTION DATE Chapter 7 P7-5BContinued) ACCOUNT ACCOUNT NO. BALANCE DEBIT CREDIT DATE JRNL REF. ITEM DEBIT CREDIT ACCOUNT ACCOUNT NO. BALANCE DEBIT CREDIT DATE JRNL. REF. ITEM DEBIT CREDIT NAME SECTION DATE Chapter 7 P7-5B(Contin Reqs. 2 and 4 Accounts Receivable Subsidiary Ledger ACCOUNT DATE ITEM JRNL REF. DEBIT ACCOUNT NO. BALANCE DEBIT CREDIT CREDIT ACCOUNT DATE ITEM JANL REF ACCOUNT NO. BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ITEM JRNL. REF ACCOUNT NO. BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ACCOUNT NO. BALANCE DEBIT CREDIT JRNL. REF ITEM DEBIT CREDIT ROUG ACCOUNT ACCOUNT NO BALANCE DEBIT CREDIT DATE JRNL REF. ITEM DEBIT CREDIT NAME SECTION DATE Chapter 7 P7-5B(Continued) Accounts Payable Subsidiary Ledger ACCOUNT DATE ITEM JRNL REF. ACCOUNT NO BALANCE DEBIT DEBIT CREDIT CREDIT ACCOUNT JRNL REF ACCOUNT NO BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT SI DATE JRNL REF. ACCOUNT NO. BALANCE DEBIT CREDIT ITEM DEBIT CREDIT SONG ACCOUNT ACCOUNT NO. BALANCE DEBIT CREDIT DATE JRNL REF. ITEM DEBIT CREDIT ACCOUNT ACCOUNT NO BALANCE JRNL REF PATE ITEM DERIT COEDIT DROIT ORA NAME SECTION DATE Chapter 7 P7-5B (Comin uredil Reqs. 3 and 5 INVOICE DATE Sales Journal ACCOUNTS COST OF ACCOUNT DEBITED POST. RECEIVABLE DR. GOODS SOLD DR REF SALES INVENTORY REVENUE CA CR NO Reg. 6 ca Chapter 7 P7-5B. Continue SAMILE SCHON DATE Cash Receipts Journal DEBITS CREDITS OTHER ACCOUNTS SALES ACCOUNTS SALES POST CASH DISCOUNTS RECEIVABLE REVENUE ACCOUNT TITLE REF PADE COST OF GOODS SOLD DR INVENTORY CR DATE AMOUNT 431 Chapter 7 P7-5B. NAME SECTION DATE Purchases Journal CREDITS DEDITS OTHER ACCOUNTS ACCOUNT POST TITLE RER AMOUNT POST TERMS RER ACCOUNTS PAYABLE ACCOUNT CREDITED INVENTORY SUPPLIES DATE 432 ACCT 300 Practice Set #4 60 Points Shannon Distributors, which sells on terms of 2/10,n/30, had the following transactions during October, the first month of the current accounting year. Oct. 1 Paid October rent, $500. Check No. 200 2 Paid Sprague, Inc., 5686 for merchandise purchased September 28. A 2% discount was taken. Check No. 201 3 Issued checks of $450 to Davis Company and $950 to Lenz Suppliers, both creditors. No discount was taken on these amounts. Checks No. 202 and No. 203. 7 Sold merchandise on account to Lyons, Inc., $550. Invoice No. 470. CG S:200 8 Received checks in payment of accounts as follows: Lyons, Inc., $392: Thomas Company, $900; and White Company, $294. Discounts had been taken by Lyons, Inc., and White Company. 9 Sold merchandise on account to Thomas Company, $750, Invoice No. 471. CGS 5200 10 Issued check for freight to Ruan Freight, Inc., on Thomas Company shipment, $50, terms EO.B. destination. Check No. 204. 11 Issued credit memorandum to Thomas Company for merchandise returned, $150. CGS - 360 14 Purchased merchandise on account from Davis Company, $800, terms 1/10, 1/60 15 Issued check for freight to Arrow Transport on purchase from Davis Company, $35, terms EO.B. shipping point. Check No. 205. 15 Paid office salaries, $1,800. Checks No. 206 and No. 207 for $900 each for L. Voss and C. Downs. 16 Received check in payment of Cooper Company account, $650. 17 Received check from Lyons, Inc., in payment of October 7 shipment, $539. 18 Purchased store supplies, 590, equipment, $600; and office supplies, $70, on account from Lenz Suppliers, terms 1 30. 21 Paid Davis Company for October 14 purchase, $792. Check No. 208. 22 Paid miscellaneous expenses, $45. Check No. 209. 28 Purchased merchandise on account from Sprague, Inc., $1,500, terms 2/15, n/60. 29 Returned $300 worth of merchandise to Sprague, Inc., for credit. 30 Sold merchandise on account to White Company, $1,375. Invoice No. 472. CAS = 450 31 Sold merchandise for cash to R. Nolan, $250. CGS - $75 31 Collected miscellaneous income from Dunn Advertising for use of bill- board space, $350. NAME SECTION DATE Chapter 7 P7-5B Reqs. 1 and 4 GENERAL LEDGER ACCOUNT JRNL REF ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT JRNL REF ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT JRNL REF. ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT JRNL. REF ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT 424 NAME SECTION DATE Chapter 7 P7-5B Continued ACCOUNT INVENTORY DATE ITEM URNL REF ACCOUNT NO BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ITEM JANL REF ACCOUNT NO. BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT ACCOUNT NO BALANCE DEBIT CREDIT DATE JRNL REF ITEM DEBIT CREDIT ACCOUNT BATE ACCOUNT NO. BALANCE DEBIT CREDIT JANL REF ITEM DEBIT CREDIT 425 ctrl alt NAME SECTION DATE Chapter 7 P7-5B Conting ACCOUNT DATE ITEM JANL REF ACCOUNT NO BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ACCOUNT NO. BALANCE DEBIT CREDIT JANL REF. ITEM DEBIT CREDIT ACCOUNT JANL ACCOUNT NO BALANCE DEBIT CREDIT DATE ITEM REF DEBIT CREDIT ACCOUNT DATE ACCOUNT NO. BALANCE DEBIT CREDIT JRNL REF. ITEM DEBIT CREDIT 426 NAME SECTION DATE Chapter 7 P7-5B. Conta ACCOUNT ACCOUNT NO BALANCE DEBIT DATE JRNL REF. ITEM DEBIT CREDIT CREDIT ACCOUNT ACCOUNT NO BALANCE DEBIT CREDIT DATE JANL REF. ITEM DEBIT CREDIT CREDIT ACCOUNT ACCOUNT NO. BALANCE DEBIT CREDIT JANL REF. DATE ITEM DEBIT CREDIT ACCOUNT JRNL ACCOUNT NO BALANCE DEBIT CREDIT DATE ITEM REF DEBIT CREDIT 426 NAME SECTION DATE Chapter 7 P7-5BContinued) ACCOUNT ACCOUNT NO. BALANCE DEBIT CREDIT DATE JRNL REF. ITEM DEBIT CREDIT ACCOUNT ACCOUNT NO. BALANCE DEBIT CREDIT DATE JRNL. REF. ITEM DEBIT CREDIT NAME SECTION DATE Chapter 7 P7-5B(Contin Reqs. 2 and 4 Accounts Receivable Subsidiary Ledger ACCOUNT DATE ITEM JRNL REF. DEBIT ACCOUNT NO. BALANCE DEBIT CREDIT CREDIT ACCOUNT DATE ITEM JANL REF ACCOUNT NO. BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ITEM JRNL. REF ACCOUNT NO. BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ACCOUNT NO. BALANCE DEBIT CREDIT JRNL. REF ITEM DEBIT CREDIT ROUG ACCOUNT ACCOUNT NO BALANCE DEBIT CREDIT DATE JRNL REF. ITEM DEBIT CREDIT NAME SECTION DATE Chapter 7 P7-5B(Continued) Accounts Payable Subsidiary Ledger ACCOUNT DATE ITEM JRNL REF. ACCOUNT NO BALANCE DEBIT DEBIT CREDIT CREDIT ACCOUNT JRNL REF ACCOUNT NO BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT SI DATE JRNL REF. ACCOUNT NO. BALANCE DEBIT CREDIT ITEM DEBIT CREDIT SONG ACCOUNT ACCOUNT NO. BALANCE DEBIT CREDIT DATE JRNL REF. ITEM DEBIT CREDIT ACCOUNT ACCOUNT NO BALANCE JRNL REF PATE ITEM DERIT COEDIT DROIT ORA NAME SECTION DATE Chapter 7 P7-5B (Comin uredil Reqs. 3 and 5 INVOICE DATE Sales Journal ACCOUNTS COST OF ACCOUNT DEBITED POST. RECEIVABLE DR. GOODS SOLD DR REF SALES INVENTORY REVENUE CA CR NO Reg. 6 ca Chapter 7 P7-5B. Continue SAMILE SCHON DATE Cash Receipts Journal DEBITS CREDITS OTHER ACCOUNTS SALES ACCOUNTS SALES POST CASH DISCOUNTS RECEIVABLE REVENUE ACCOUNT TITLE REF PADE COST OF GOODS SOLD DR INVENTORY CR DATE AMOUNT 431 Chapter 7 P7-5B. NAME SECTION DATE Purchases Journal CREDITS DEDITS OTHER ACCOUNTS ACCOUNT POST TITLE RER AMOUNT POST TERMS RER ACCOUNTS PAYABLE ACCOUNT CREDITED INVENTORY SUPPLIES DATE 432