Robert Chase recently opened Robert\'s Skate Shop. As the bookkeeper of the comp

Question

Robert Chase recently opened Robert's Skate Shop. As the bookkeeper of the company, use the periodic method to journalize, record, and post opriate the following transactions (account numbers are Store Supplies when 15; Store Equipment 121; Accounts Payable 210; Purchases 510): 201X May Bought $600 of merchandise on account from Wales Co., invoice no. 442, dated May 5; terms 3/10, n/30. Bought $4,600 of store equipment on account from Kingston Co., invoice no. 502, dated May 6. 4 5 8 Bought $1,700 of merchandise on account from Rolo Co., invoice no. 401, dated May 9; terms 3/10, n/30. Bought $1,000 of store supplies on account from Wales Co., invoice no. 419, dated May 14. 14

Explanation / Answer

Date Accounting titles & expalantions Debit Credit 4-May purchases 600 accounts payable 600 5-May Store Equipment 4,600 Accounts payable 4,600 8-May purchases 1,700 accounts payable 1,700 14-May Store Supplies 1,000 Accounts payable 1,000

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.