Question

Mabel’s Natural Food Store uses a purchases journal and a general journal to record the following transactions (continued from April):
201X
May 8 Purchased $600 of merchandise on account from Aton Co., invoice no. 400, dated May 9; terms 2/10, n/60.
10 Purchased $1,200 of merchandise on account from Broward Co., invoice no. 420, dated May 11; terms 2/10, n/60.
12 Purchased $500 of store supplies on account from Midden Co., invoice no. 510, dated
May 13.
14 Issued debit memo no. 8 to Aton Co., for merchandise returned, $400, from invoice no. 400.
17 Purchased $560 of office equipment on account from Relar Co., invoice no. 810, dated May 18.
24 Purchased $650 of additional store supplies on account from Midden Co., invoice no.
516, dated May 25; terms 2/10, n/30.
The food store decided to keep a separate column for the purchases of supplies in the purchases journal. Your tasks are to do the following:
1. Journalize the transactions.
2. Post and record as appropriate.
3. Prepare a schedule of accounts payable.



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  • CreatedApril 24, 2014
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