Gomes Company uses special journals and a general journal. The following transac

Question

Gomes Company uses special journals and a general journal. The following transactions occurred during September 2017. Sept. Sold merchandise on account to H. Drew, invoice no. 101, dollar 670, terms n/30. The cost of the merchandise sold was 2 dollar 370. 10 Purchased merchandise on account from A. Pagan dollar 550, terms 2/10, n/30. 12 Purchased office equipment on account from R. Cairo dollar 6,000. 21 Sold merchandise on account to G. Holliday, invoice no. 102 for dollar 750, terms 2/10, n/30. The cost of the merchandise sold was dollar 430. 25 Purchased merchandise on account from D. Downs dollar 810, terms n/30. 27 Sold merchandise to S. Miller for dollar 650 cash. The cost of the merchandise sold was dollar 350. Prepare a sales Journal and record the transactions for September that should be Journalized. (Record entries In the order presented In the problem statement)

Explanation / Answer

Gomes Company Sales Journal Date Account Dr. Invoice No. Accounts Receivable Dr. Sales credit Cost of Goods Sold Dr. Inventory Cr. Sep-2 101 670 370 Sep-21 102 750 430 1420 800 Gomes Company Journal Entries Date Particulars Dr. Amt. Cr. Amt Sep-2 Accounts Receivables                            Dr. 670    To Sales 670 (Sold merchandise to H Drew - Invoice No. 101) Sep-2 Cost of Goods Sold                                  Dr. 370    To Inventory 370 (Cost of Goods sold to H Drew) Sep-10 Inventory                                                     Dr. 550 To Accounts Payable 550 (Purchased inventory from A.pagan on Account) Sep-12 Office Equipment                                    Dr. 6000    To Accounts Payable 6000 (purchased office equipment from R.Cairo) Sep-21 Accounts Receivables                            Dr. 750    To Sales 750 (Sold merchandise to G. Holliday- Invoice No. 102) Sep-21 Cost of Goods Sold                                  Dr. 430    To Inventory 430 (Cost of Goods sold to G, Holliday) Sep-25 Inventory                                                     Dr. 810 To Accounts Payable 810 (Purchased inventory from D.Downs on Account) Sep-27 Cash                                                             Dr. 650    To Sales 650 (Sold merchandise to S.Miller) Cost of Goods Sold                                  Dr. 350    To Inventory 350 (Cost of Goods sold to S.Miller)

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