Question

MacDonald Bookshop had the following transactions that occurred during February of this year:
Feb. 3 Issued Ck. No. 4312, $ 892, to Kent Company for invoice no. 68172, recorded previously for $ 910.20, less 2 percent cash discount.
4 Issued Ck. No. 4313 to Kirby Express Company for freight charges, $ 35, for books purchased.
6 Issued Ck. No. 4314 to Morse Land Company for monthly rent, $ 590.
11 Received and paid bill for advertising in the Ballard News, $ 105.79, Ck. No. 4315.
11 Issued Ck. No. 4316, $ 1,078.11, to Contreras Book Company for invoice no. A3322, recorded previously for $ 1,089, less 1 percent cash discount.
17 Paid wages recorded previously for first half of February, $ 487; Ck. No. 4317.
21 R. D. MacDonald, the owner, withdrew $ 1,200 for personal use; Ck. No. 4318.
26 Issued Ck. No. 4319 to First National Bank for payment on bank loan, $ 560, consisting of $ 500 on the principal and $ 60 interest.
27 Issued Ck. No. 4320, $ 645, to Graham Publishing Company for invoice no. 7768, recorded previously (no discount).
28 Voided Ck. No. 4321.
28 Paid wages recorded previously for second half of February, $ 641; Ck. No. 4322.

Required
1. Journalize the transactions for February in the cash payments journal. Assume the periodic inventory method is used.
2. Total and rule the journal.
3. Prove the equality of the debit and credit totals.



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  • CreatedOctober 21, 2014
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