Marx Supply uses a sales journal, a purchases journal, a cash receipts journal,

Question

Marx Supply uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of April.

Apr. 3 Purchased merchandise for $2,950 on credit from Seth Inc. terms 2/10, n/30.

9 Issued Check No. 210 to Kitt Corp. to buy store supplies for $650.

12 Sold merchandise costing $500 on credit to C. Myrs for $770, terms n/30.

17 Issued check no. 211 for $1,400 to pay off a note payable to City Bank

20 Purchased merchandise for $4,500 on credit from Lite, terms 2/10, n/30

28 Issued Check No. 212 to Lite to pay the amount due for the purchase of April 20, less the discount.

29 Paid salary for $1,800 to B. Dock by issuing Check No. 213.

30 Issued Check No. 214 to Seth Inc. to pay the amount due for the purchase of April 3.

Prepare headings for a cash disbursements journal like the one in Exhibit 7.11. Journalize the April transactions that should be recorded in the cash disbursements journal.

Explanation / Answer

Marx Supply uses a sales journal, a purchases journal, a cash receipts journal,

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