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. Purchased merchandise for $2,950 on credit from Seth. Inc., terms 2/10. n/30. Issued check no. 210 to Kitt Corp. to buy store supplies for $650. Sold merchandise costing $500 on credit to C. Myrs for $770. terms n/30. Issued check no. 211 for $1,400 to pay off a note payable to City Bank. Purchased merchandise for $4,500 on credit from Lite, terms 2/10. n/30. Issued check no. 212 to Lite to pay the amount due for the purchase of April 20. less the discount. Paid salary of $1,800 to B. Dock by issuing check no. 213. Issued check no. 214 to Seth, Inc., to pay the amount due for the purchase of April 3. Journalize the April transactions that should be recorded in the cash disbursements journal assuming the perpetual inventory system is used.

Explanation / Answer

Cash Disbursement Journal Date Chk.No Payee Account Debited Cash Cr. Inventory Cr. Other Account Dr. Accounts Payable Dr. 9th April 210 Supplies 650 17th April 211 Notes Payable 1400 28th April 212 Accounts Payable 4410 Cash Discount 4500 29th April 213 Salaries 1800 30th April 214 Accounts Payable 2950 2950

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