QUESTION: what do i include in the sales and purchase journal, and how do I record them in the two tables above?
QUESTION: what do i include in the sales and purchase journal, and how do I record them in the two tables above?
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter9: Receivables
Section: Chapter Questions
Problem 9.6APR: Sales and notes receivable transactions The following were selected from among the transactions...
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Week 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Date | Transaction description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8 | Purchased 13 boxes of Sprearmint Gum from Gillard Wholesalers for $208 each, terms net 30. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 | Paid the full amount owing to Hershel's, Check No. 405. Payment fell outside discount period. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11 | Sold 17 boxes of Hazelnut Toffee to Central Candy for $376 each, Invoice No. 870. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11 | Paid sales staff wages of $2,031 for the week up to and including yesterday, Check No. 406. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12 | Made cash sale of 30 boxes of Organic Chocolate for $992 each. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
13 | Paid the full amount owing to Restlay, Check No. 407. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
13 | Paid the full amount owing to Brennan Imports Group, Check No. 408. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
13 | Candy Man paid the full amount owing on their account. Since Candy Man has been a loyal customer from the day the business commenced, a 10% discount was given for this early repayment.
SALES JOURNAL
PURCHASES JOURNAL
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QUESTION: what do i include in the sales and purchase journal, and how do I record them in the two tables above?
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