record in appropriate special journals below uction or distribution Principles o
ID: 2597421 • Letter: R
Question
record in appropriate special journals below
uction or distribution Principles of Accounting 1) A company uses four special journals: purchases, sales, cash r following purchase and cash payments transactions were incu eceipts, and cash disbursements. The rred during August: Aug.Purchased merchandise from Able Co. for $2,000, terms 2/10, n/30. Invoice August 1 7 Paid salaries accrued on July 31, $2,100 to manager 9 Returned merchandise costing $200 to Able Co. from August purchase 11 Paid Able Co. for the August I purchase, Check No. 757 28Purchased office supplies from Mercantile Co. on credit, terms Ms. Krenz, Check No. 756 1/10, n/EOM for $335 29 Paid c si t cite Telephone Co. for monthly telephone bill $250, Check No.758 Record these transactions in the appropriate special journals below.Explanation / Answer
Journal entries :
date accounts & explanation debit credit Aug 1 Merchandise inventory a/c 2000 Account payable a/c 2000 (To record purchase) Aug 7 Salary payable a/c 2100 Bank a/c 2100 (To record salary paid) Aug 9 Account payable 200 Merchandise inventory a/c 200 (To record return) Apr 11 Account payable 1800 Merchandise inventory 36 Bank a/c 1764 (To record account payable paid) Apr 28 Office supplies a/c 335 Account payable 335 (To record office supplies purchased) Apr 29 Telephone expenses a/c 250 Bank a/c 335 (To record telephone bill paid)Related Questions
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