wledge Check the following transactions during January 2019: Bowden Company DATE

Question

wledge Check the following transactions during January 2019: Bowden Company DATE TRANSACTIONS 2019 Jan. 8 Issued Check 2101 for $2, 940 on account to Song, Inc. in payment of Invoice 1885 dated December 30, 2018, less cash discount of $60. 10 Purchased merchandise for $3,500 from Song, Inc., Invoice 1920: terms 2/10, n/30. 15 Received Credit Memorandum 320 from Song, Inc., for damaged merchandise totaling $300 that was returned: purchased onInvoice 1920, dated 2 2 thel goods were January 1O unt due to Song foInvoice 1920 of gamuary 0 less the recurn of danuary 15 and less the cash discount, Check 2130. 30/Pu chased merchandise for $4,400 from Song, Inc., Inyoice 1950 terms 2/10, n/30 GENERAL LEDGER ACCOUNTS-BOWDEN COMPANY 201 Accounts P $3.000 0 ACCOUNTS PAYABLE LEDGER ACCOUNT BOWDEN COMPANY ne/ $a.000 4of 5 Score answer> Prev

Explanation / Answer

Books of Bowden General Journal 8-Jan Accounts payable-Song Inc. 3000 Cash 2940 Discounts received 60 (Settlement of Inv.No.1885 dt. Dec.30,'18) 10-Jan Merchandise Inventory 3500 Accounts payable-Song Inc. 3500 (Inv.no.1920 Terms 2/10,n/30) 15-Jan Accounts payable-Song Inc. 300 Merchandise Inventory 300 (Return of damaged goods) 19-Jan Accounts payable-Song Inc. 3200 Cash(3200-64) 3136 Discounts received(2%*3200) 64 (Settlement of Inv.No.1920 dt. Jan 15,'19) 30-Jan Accounts payable-Song Inc. 4400 Accounts payable-Song Inc. 4400 (Inv.no.1950 Terms 2/10,n/30) 14400 14400 LEDGER ACCOUNTS Accounts payable-Song Inc. 1-Jan Beginning Balance 3000 8-Jan Settlement of Inv.No.1885 dt. Dec.30,'18 3000 10-Jan Inv.no.1920 Terms 2/10,n/30 3500 15-Jan Return of damaged goods 300 19-Jan Settlement of Inv.No.1920 dt. Jan 15,'19 3200 30-Jan Inv.no.1950 Terms 2/10,n/30 4400 Balance c/d 4400 Cash a/c 8-Jan Settlement of Inv.No.1885 dt. Dec.30,'18 2940 19-Jan Settlement of Inv.No.1920 dt. Jan 15,'19 3136 6076 Discounts received a/c 8-Jan Settlement of Inv.No.1885 dt. Dec.30,'18 60 19-Jan Settlement of Inv.No.1920 dt. Jan 15,'19 64 124 Purchases a/c 10-Jan Inv.no.1920 Terms 2/10,n/30 3500 15-Jan Return of damaged goods 300 Books of Song Inc. General Journal Date Account Title Debit Credit 8-Jan Cash 2940 Discounts allowed 60 Accounts receivable-Bowden 3000 (Settlement of Inv.No.1885 dt. Dec.30,'18) 10-Jan Accounts receivable-Bowden 3500 Sales 3500 ( Vide Inv.no.1920 Terms 2/10,n/30) 15-Jan Sales 300 Accounts receivable-Bowden 300 (Return of damaged goods) 19-Jan Cash 3136 Discounts allowed 64 Accounts receivable-Bowden 3200 (Settlement of Inv.No.1920 dt. Jan 15,'19) 30-Jan Accounts receivable-Bowden 4400 Sales 4400 ( Vide Inv.no.1950 Terms 2/10,n/30) LEDGER ACCOUNTS Date Account Title Debit Credit Accounts receivable-Bowden 1-Jan Beginning balance 3000 8-Jan Settlement of Inv.No.1885 dt. Dec.30,'18 3000 10-Jan Inv.no.1920 Terms 2/10,n/30 3500 10-Jan Return of damaged goods 300 19-Jan Settlement of Inv.No.1920 dt. Jan 15,'19 3200 30-Jan Inv.no.1950 Terms 2/10,n/30 4400 Balance c/d 4400 Cash a/c 8-Jan Settlement of Inv.No.1885 dt. Dec.30,'18 2940 19-Jan Settlement of Inv.No.1920 dt. Jan 15,'19 3136 Discounts Allowed a/c 8-Jan Settlement of Inv.No.1885 dt. Dec.30,'18 60 19-Jan Settlement of Inv.No.1920 dt. Jan 15,'19 64 Sales a/c 10-Jan Inv.no.1920 Terms 2/10,n/30 3500 15-Jan Sales Returns 300 15-Jan Inv.no.1950 Terms 2/10,n/30 4400 3…. Debit Credit Books of Bowden Accounts payable-Song Inc. 4400 Books of Song Accounts receivable-Bowden 4400

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