Melanies Natural Food Store of Cold Lake uses a purchases journal (page 10) and a general journal
Question:
Melanie’s Natural Food Store of Cold Lake uses a purchases journal (page 10) and a general journal (page 2) to record the following transactions:
The food store has decided to use a separate column for the purchases of supplies in the purchases journal, which also has a separate column for GST.
Required
a. Journalize the transactions.
b. Post and record as appropriate.
c. Prepare a schedule of accounts payable as of May 31, 2021.
Transcribed Image Text:
2021 May 8 Purchased merchandise on account from Aton Co., invoice No. 400, dated May 7, terms 2/10, n/60, $600, plus 5% GST. Purchased merchandise on account from Broward Co., invoice No. 120, dated May 11, terms 2/10, n/60, $1,200, plus GST. 14 Purchased store supplies on account from Midden Co., invoice No. 510, dated May 14, $700, plus GST. 11 15 Issued debit memo No. 8 to Aton Co. for merchandise returned, $400 (plus GST) from invoice No. 400. 18 Purchased office equipment on account from Relar Co., invoice No. 810, dated May 18, $560, plus GST. 25 Purchased additional store supplies on account from Midden Co., invoice No. 516, dated May 25, terms 2/10, n/30, $650, plus GST.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780135222416
14th Canadian Edition
Authors: Jeffrey Slater, Debra Good
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