What would the journal entries look like for these transactions Week 3 Jun15 Paid $2,000 for one month's rent of the show room (from 16 June to 15 July inclusive), Check No 738 15 Received a purchase order from The Locker Room Created a corresponding sales order to deliver 3 Specialist Tennis Raquets to this customer for $380 each plus 5 sales tax, Invoice No 365 16 Great Sports paid the full amount owing on their account 17 Sold 74 pairs of Football Boots to Mick's Sporting Goods for $260 each, plus 5 sales tax, Invoice No 364 18 The Locker Room paid $9,400 in partial payment of their account 18 Made cash sale of 62 Signed Rugby Balls for a list price of $400 each plus 5 sales tax A trade discount of 25 applies 19 Paid sales staff wages of $1,695 for the week up to and including yesterday, Check No 739 21 Returned 2 faulty Signed Rugby Balls, originally purchased for $160 each, to Extreme Sports Inc Received a Credit Memorandum for $320 Week 4 22 Paid the full amount owing to Extreme Sports Inc, Check No 740 22 Ordered 13 pairs of Football Boots from Sport Borders for $180 each, agreed terms with Sport Borders are 2 10, n 30 24 Paid the full amount owing to J J Spud, Check No 741 Payment fell outside discount period 25 Made cash sale of 78 boxes of Super Sprung Tennis Balls for $340 each plus 5 sales tax 26 Paid sales staff wages of $2,320 for the week up to and including yesterday, Check No 742 28 Delivered 3 Specialist Tennis Raquets to The Locker Room for $380 each, plus 5 sales tax, Invoice No 365 These items were ordered on the 15 th Week 5 29 Received 13 pairs of Football Boots for $180 each, which were ordered on the 22 nd , agreed terms with Sport Borders are 2 10, n 30 29 Balls 'n All paid the full amount owing on their account 29 Made cash sale of 29 Quidditch Snitches for $620 each plus 5 sales tax 30 Purchased 20 Specialist Tennis Raquets with cash for a list price of $200 each A trade discount of 20 applies, Check No 743 30 Paid monthly salary of $5,300 to Beatrice Brockhouse, Check No 744

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 05, 2024

What would the journal entries look like for these transactions?: Week 3 Jun15: Paid $2,000 for one month's rent of the show room (from 16

What would the journal entries look like for these transactions?:

Week 3
Jun15:	Paid $2,000 for one month's rent of the show room (from 16 June to 15 July inclusive), Check No. 738.
15	Received a purchase order from The Locker Room. Created a corresponding sales order to deliver 3 Specialist Tennis Raquets to this customer for $380 each plus 5% sales tax, Invoice No. 365.
16	Great Sports paid the full amount owing on their account.
17	Sold 74 pairs of Football Boots to Mick's Sporting Goods for $260 each, plus 5% sales tax, Invoice No. 364.
18	The Locker Room paid $9,400 in partial payment of their account.
18	Made cash sale of 62 Signed Rugby Balls for a list price of $400 each plus 5% sales tax. A trade discount of 25% applies.
19	Paid sales staff wages of $1,695 for the week up to and including yesterday, Check No. 739.
21	Returned 2 faulty Signed Rugby Balls, originally purchased for $160 each, to Extreme Sports Inc. Received a Credit Memorandum for $320.

Week 4
22	Paid the full amount owing to Extreme Sports Inc, Check No. 740.
22	Ordered 13 pairs of Football Boots from Sport Borders for $180 each, agreed terms with Sport Borders are 2/10, n/30.
24	Paid the full amount owing to J. J. Spud, Check No. 741. Payment fell outside discount period.
25	Made cash sale of 78 boxes of Super-Sprung Tennis Balls for $340 each plus 5% sales tax.
26	Paid sales staff wages of $2,320 for the week up to and including yesterday, Check No. 742.
28	Delivered 3 Specialist Tennis Raquets to The Locker Room for $380 each, plus 5% sales tax, Invoice No. 365. These items were ordered on the 15^th.

Week 5
29	Received 13 pairs of Football Boots for $180 each, which were ordered on the 22^nd, agreed terms with Sport Borders are 2/10, n/30.
29	Balls 'n All paid the full amount owing on their account.
29	Made cash sale of 29 Quidditch Snitches for $620 each plus 5% sales tax.
30	Purchased 20 Specialist Tennis Raquets with cash for a list price of $200 each. A trade discount of 20% applies, Check No. 743.
30	Paid monthly salary of $5,300 to Beatrice Brockhouse, Check No. 744.