Week 2 Date Transaction description 9 Purchased 14 Specialist Tennis Raquets fro
ID: 2521440 • Letter: W
Question
Week 2
Date
Transaction description
9
Purchased 14 Specialist Tennis Raquets from Addax Sports for $232 each, terms net 30.
10
Mick's Sporting Goods paid the full amount owing on their account. Since Mick's Sporting Goods has been a loyal customer from the day the business commenced, a 10% discount was given for this early repayment.
11
Paid the full amount owing to Sports 'R Us, Check No. 873. Payment fell outside discount period.
11
Paid the full amount owing to Hike, Check No. 874.
11
Sold 18 pairs of Football Boots to The Locker Room for $336 each, Invoice No. 383.
11
Paid sales staff wages of $2,388 for the week up to and including yesterday, Check No. 875.
13
Paid the full amount owing to Sport Borders, Check No. 876.
13
Made cash sale of 25 sets of Sting Ray Golf Clubs for $648 each.
SALES JOURNAL
Date
Account
Invoice
No.
Post
Ref.
Accounts Receivable
Cost of Goods Sold
Jun
(select)
Jun
(select)
Jun
(select)
Jun
(select)
(Q=402.purchasesJournalWeek2)
PURCHASES JOURNAL
Date
Account
Terms
Post
Ref.
Accounts Payable
Jun
(select)
Jun
(select)
Jun
(select)
Jun
(select)
Week 2
Date
Transaction description
9
Purchased 14 Specialist Tennis Raquets from Addax Sports for $232 each, terms net 30.
10
Mick's Sporting Goods paid the full amount owing on their account. Since Mick's Sporting Goods has been a loyal customer from the day the business commenced, a 10% discount was given for this early repayment.
11
Paid the full amount owing to Sports 'R Us, Check No. 873. Payment fell outside discount period.
11
Paid the full amount owing to Hike, Check No. 874.
11
Sold 18 pairs of Football Boots to The Locker Room for $336 each, Invoice No. 383.
11
Paid sales staff wages of $2,388 for the week up to and including yesterday, Check No. 875.
13
Paid the full amount owing to Sport Borders, Check No. 876.
13
Made cash sale of 25 sets of Sting Ray Golf Clubs for $648 each.
Explanation / Answer
SALES JOURNAL Date Account Invoice Post Accounts Receivable Cost of Goods Sold No. Ref. Jun The Locker Room 383 6048 Jun Jun Jun PURCHASES JOURNAL Date Account Terms Post Accounts Payable Ref. Jun Addax Sports Net 30 3248 Jun (select) Jun (select) Jun (select)
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