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Posted on Sep 06, 2024

Write the Journal entries Transaction Date Transaction 24 12/1 Received a check in the amount of $33,920 from Boecker Builders in full payment of invoice

image text in transcribed Write the Journal entries

Transaction Date Transaction 24 12/1 Received a check in the amount of $33,920 from Boecker Builders in full payment of invoice No. 1071 25 12/11 Cash sales to date totaled $12,292. 26 12/12 Received a check in the amount of $28,714 from Trudy's Plumbing in payment of invoice No. 1204 27 12/12 Sold plumbing fixtures and supplies to Boecker Builders, on account, invoice No. 1207 for $24,730 28 12/13The Potts Company returned defective copper tubing that it purchased on December 10. A credit memo in the amount of $4,680 is issued relative to invoice No. 1206. The copper tubing had a cost of $3,550 29 12/13The defective copper tubing is returned to Edward's Plumbing Supplies, Inc. along with a debit memo in the amount of $3,550 in reduction of purchase order No. 315. 30 12/13 Issued check No. 1588 for $399 in payment of November telephone bill to Northern Illinois Communications 12/14 Issued check No. 1589 in the amount of $11,360 in payment of federal withholding taxes, $9,573, and FICA taxes, $1,787, payable on November salaries and wages; the check is remitted to the Winnebago County Bank as the depository. 32 12/14 Issued check No. 1590 for $52,173 to Phoenix Plastics, Inc. in payment of purchase order No. 316 12/17 The president informs you that Bilder Construction Company agrees. to convert the $45,200 overdue account receivable (invoice No. 1120) to an 8% note due six months firm today 34 12/17 Purchased plumbing materials from Smith Pipe Company on account, purchase order No. 317 for S60,800 terms 1/15, n/60 35 12/18 Sold drain tile, plastic pipe, and copper tubing to A &. B Hardware on account, invoice No. 1208 for$7,920 36 12/18 Sold fixtures and materials to Coconino Contractors, Inc. on account, invoice No. 1209 for $42,780 12/19 An invoice in the amount of $1,021was received from S. White Trucking Company for freight on purchase order No. 317 and paid by issuing check No. 1591 Transaction Transaction 38 12/19Received a check in the amount of S33,173 from Trudy's Plumbing in payment of invoice No. 1205 39 12/20 Purchased office supplies from the Pen & Pad, issuing check No. 1592 in the amount of S1,360. (Note: Debit asset account) 40 12/20 Purchased a new Faith computer for $6,100 from Business Basics, Inc purchase order No. 318, paying $600 down through Check No. 1593 with the balance due in thirty days (n/30). The computer has an estimated life of five years with a salvage value of $1,300. Use subsidiary account No 16 12/21 Purchased bathroom and kitchen fixtures from Phoenix Plastics, on account, purchase order No. 319 for $48,330, terms 1/10, n/30 42 12/21Received a bill from DeKalb Transport for $2,300 for freight costs incurred during the last 30 days, terms n/30 43 12/24The payroll summary for the biweekly pay period ended Friday, December 21 contained the following information S5,770 Delivery and warehouse wages FICA taxes withheld Federal income taxes withheld State income taxes withheld 1,067 225 $4,063 Net pay Employer's payroll taxes FICA tax Federal unemployment tax State unemployment tax S415 0 Issued check No. 1594 for the amount of the net pay and deposited it in the payroll bank account. Individual payroll checks were then prepared for distribution to the biweekly employees on Monday, December 24 12/26The board of directors voted to purchase 1,000 shares of its own stock from stockholder Dionne Schivone at $83 per share and issued check No. 1595 in payment. Stock repurchases are recorded at cost. Total Plumbing is purchasing these shares because Ms. Schivone had been a valuable employee 45 12/26 The board of directors declared a $1.90 per-share cash dividend payable on January 14 to stockholders of record on December 26 (after purchase of stock) Transaction Date Transaction 24 12/1 Received a check in the amount of $33,920 from Boecker Builders in full payment of invoice No. 1071 25 12/11 Cash sales to date totaled $12,292. 26 12/12 Received a check in the amount of $28,714 from Trudy's Plumbing in payment of invoice No. 1204 27 12/12 Sold plumbing fixtures and supplies to Boecker Builders, on account, invoice No. 1207 for $24,730 28 12/13The Potts Company returned defective copper tubing that it purchased on December 10. A credit memo in the amount of $4,680 is issued relative to invoice No. 1206. The copper tubing had a cost of $3,550 29 12/13The defective copper tubing is returned to Edward's Plumbing Supplies, Inc. along with a debit memo in the amount of $3,550 in reduction of purchase order No. 315. 30 12/13 Issued check No. 1588 for $399 in payment of November telephone bill to Northern Illinois Communications 12/14 Issued check No. 1589 in the amount of $11,360 in payment of federal withholding taxes, $9,573, and FICA taxes, $1,787, payable on November salaries and wages; the check is remitted to the Winnebago County Bank as the depository. 32 12/14 Issued check No. 1590 for $52,173 to Phoenix Plastics, Inc. in payment of purchase order No. 316 12/17 The president informs you that Bilder Construction Company agrees. to convert the $45,200 overdue account receivable (invoice No. 1120) to an 8% note due six months firm today 34 12/17 Purchased plumbing materials from Smith Pipe Company on account, purchase order No. 317 for S60,800 terms 1/15, n/60 35 12/18 Sold drain tile, plastic pipe, and copper tubing to A &. B Hardware on account, invoice No. 1208 for$7,920 36 12/18 Sold fixtures and materials to Coconino Contractors, Inc. on account, invoice No. 1209 for $42,780 12/19 An invoice in the amount of $1,021was received from S. White Trucking Company for freight on purchase order No. 317 and paid by issuing check No. 1591 Transaction Transaction 38 12/19Received a check in the amount of S33,173 from Trudy's Plumbing in payment of invoice No. 1205 39 12/20 Purchased office supplies from the Pen & Pad, issuing check No. 1592 in the amount of S1,360. (Note: Debit asset account) 40 12/20 Purchased a new Faith computer for $6,100 from Business Basics, Inc purchase order No. 318, paying $600 down through Check No. 1593 with the balance due in thirty days (n/30). The computer has an estimated life of five years with a salvage value of $1,300. Use subsidiary account No 16 12/21 Purchased bathroom and kitchen fixtures from Phoenix Plastics, on account, purchase order No. 319 for $48,330, terms 1/10, n/30 42 12/21Received a bill from DeKalb Transport for $2,300 for freight costs incurred during the last 30 days, terms n/30 43 12/24The payroll summary for the biweekly pay period ended Friday, December 21 contained the following information S5,770 Delivery and warehouse wages FICA taxes withheld Federal income taxes withheld State income taxes withheld 1,067 225 $4,063 Net pay Employer's payroll taxes FICA tax Federal unemployment tax State unemployment tax S415 0 Issued check No. 1594 for the amount of the net pay and deposited it in the payroll bank account. Individual payroll checks were then prepared for distribution to the biweekly employees on Monday, December 24 12/26The board of directors voted to purchase 1,000 shares of its own stock from stockholder Dionne Schivone at $83 per share and issued check No. 1595 in payment. Stock repurchases are recorded at cost. Total Plumbing is purchasing these shares because Ms. Schivone had been a valuable employee 45 12/26 The board of directors declared a $1.90 per-share cash dividend payable on January 14 to stockholders of record on December 26 (after purchase of stock)