Figures show three data flows running to the general ledger (GL) for the purpose of updating the general ledger master data.
For each of the following three data flows, show the journal entry (in debit/credit journal entry format with no dollar amounts) that would result under all of the five situations below that would apply. Make and state any assumptions you think are necessary.

Data Flows:
A. GL inventory received update (show both debit and credit entries, even if they originate in a process other than AP/ CD)
B. GL payable update
C. GL cash disbursements update

1. Merchandise is purchased, and a periodic inventory process is used.
2. Merchandise is purchased, and a perpetual inventory process is used.
3. Office supplies are purchased.
4. Plant assets are purchased.
5. Legal services arepurchased.

  • CreatedDecember 15, 2014
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