The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and...

  
 
 
 

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The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and a General Journal. The Oak Store uses a perpetual inventory system. The following transactions occurred during July 2022: July 4 Purchased merchandise from Whale Co. for $8,500 under credit terms of 1/10, n/30, FOB factory. 6 Sold merchandise to Polar Co. for $7,400 under credit4 terms of 2/15, n/30, FOB destination. The cost of the merchandise was $3,600. Invoice #619. 9 Suziki Store requested a price reduction on the July 4 purchase because the merchandise did not meet specifications. Whale Co. agreed to a $400 price reduction to resolve the issue. 10 Paid Accurate Movers $450 with cheque #373 for shipping the merchandise to the customer for the July 6 sale.. 12 Sold merchandise to Beluga Co. for $1,350. Beluga paid immediately. The merchandise cost $868. 13 Issued a credit memo regarding a $1,750 allowance granted to Polar Co. to cover defective merchandise sold on July 6th. 13 Paid the balance due to Whale Co. with cheque #374. 15 Purchased a $1,700 Office Printer from Best Buy Inc. Terms Net 30. 18 Received Polar Co.'s payment of the amount due from the July 6 sale. Instructions: Record the above transactions in the appropriate journal in the data entry located in the Module 8 Learn Assessment Dropbox. Note: The General Journal is an all-purpose journal where we record any other transactions NOT recorded in the special journals (Sales, Receipts, Purchase and Cash Payment). One mark will be deducted for each transaction recorded on the General Journal that does not belong there. 12 13 The Suziki Store Sales Journal Cost of Goods Sold Dr. Merchandise Inventory Cr. Accounts Receivable DR. Ref 14 Date Account Debited Invoice No. Sales Cr. 15 16 17 18 19 20 21 22 23 24 25 12 The Suziki Cash Receipts Journal Cost of Goods Sold Dr Merchandise Accounts Sales Other Receivable Cr Date Account Credited Ref. Explanation Cash Dr. Discount Dr Sales Cr. Inventory Cr. Accounts Cr. 13 14 15 16 17 18 19 20 21 22 -23 The Suziki Store Purchases Journal Other Accounts Date of Accounts Merchandise Date Account Credited Invoice Terms Ref. Payable Cr. Inventory Dr. Supplies Dr Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 20 27 28 20 11 12 The Suziki Store Cash Payments Journal Merchandise Other Accounts Date Ch. No. Payee Account Debited Ref. Cash Cr. Inventory Cr. Accounts Dr. Payable Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 15 General Journal Account Titles and Explanations 16 Date Debit Credit 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Sales Cash Receipts Purchases Cash Payments General Journal Ready The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and a General Journal. The Oak Store uses a perpetual inventory system. The following transactions occurred during July 2022: July 4 Purchased merchandise from Whale Co. for $8,500 under credit terms of 1/10, n/30, FOB factory. 6 Sold merchandise to Polar Co. for $7,400 under credit4 terms of 2/15, n/30, FOB destination. The cost of the merchandise was $3,600. Invoice #619. 9 Suziki Store requested a price reduction on the July 4 purchase because the merchandise did not meet specifications. Whale Co. agreed to a $400 price reduction to resolve the issue. 10 Paid Accurate Movers $450 with cheque #373 for shipping the merchandise to the customer for the July 6 sale.. 12 Sold merchandise to Beluga Co. for $1,350. Beluga paid immediately. The merchandise cost $868. 13 Issued a credit memo regarding a $1,750 allowance granted to Polar Co. to cover defective merchandise sold on July 6th. 13 Paid the balance due to Whale Co. with cheque #374. 15 Purchased a $1,700 Office Printer from Best Buy Inc. Terms Net 30. 18 Received Polar Co.'s payment of the amount due from the July 6 sale. Instructions: Record the above transactions in the appropriate journal in the data entry located in the Module 8 Learn Assessment Dropbox. Note: The General Journal is an all-purpose journal where we record any other transactions NOT recorded in the special journals (Sales, Receipts, Purchase and Cash Payment). One mark will be deducted for each transaction recorded on the General Journal that does not belong there. 12 13 The Suziki Store Sales Journal Cost of Goods Sold Dr. Merchandise Inventory Cr. Accounts Receivable DR. Ref 14 Date Account Debited Invoice No. Sales Cr. 15 16 17 18 19 20 21 22 23 24 25 12 The Suziki Cash Receipts Journal Cost of Goods Sold Dr Merchandise Accounts Sales Other Receivable Cr Date Account Credited Ref. Explanation Cash Dr. Discount Dr Sales Cr. Inventory Cr. Accounts Cr. 13 14 15 16 17 18 19 20 21 22 -23 The Suziki Store Purchases Journal Other Accounts Date of Accounts Merchandise Date Account Credited Invoice Terms Ref. Payable Cr. Inventory Dr. Supplies Dr Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 20 27 28 20 11 12 The Suziki Store Cash Payments Journal Merchandise Other Accounts Date Ch. No. Payee Account Debited Ref. Cash Cr. Inventory Cr. Accounts Dr. Payable Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 15 General Journal Account Titles and Explanations 16 Date Debit Credit 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Sales Cash Receipts Purchases Cash Payments General Journal Ready The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and a General Journal. The Oak Store uses a perpetual inventory system. The following transactions occurred during July 2022: July 4 Purchased merchandise from Whale Co. for $8,500 under credit terms of 1/10, n/30, FOB factory. 6 Sold merchandise to Polar Co. for $7,400 under credit4 terms of 2/15, n/30, FOB destination. The cost of the merchandise was $3,600. Invoice #619. 9 Suziki Store requested a price reduction on the July 4 purchase because the merchandise did not meet specifications. Whale Co. agreed to a $400 price reduction to resolve the issue. 10 Paid Accurate Movers $450 with cheque #373 for shipping the merchandise to the customer for the July 6 sale.. 12 Sold merchandise to Beluga Co. for $1,350. Beluga paid immediately. The merchandise cost $868. 13 Issued a credit memo regarding a $1,750 allowance granted to Polar Co. to cover defective merchandise sold on July 6th. 13 Paid the balance due to Whale Co. with cheque #374. 15 Purchased a $1,700 Office Printer from Best Buy Inc. Terms Net 30. 18 Received Polar Co.'s payment of the amount due from the July 6 sale. Instructions: Record the above transactions in the appropriate journal in the data entry located in the Module 8 Learn Assessment Dropbox. Note: The General Journal is an all-purpose journal where we record any other transactions NOT recorded in the special journals (Sales, Receipts, Purchase and Cash Payment). One mark will be deducted for each transaction recorded on the General Journal that does not belong there. 12 13 The Suziki Store Sales Journal Cost of Goods Sold Dr. Merchandise Inventory Cr. Accounts Receivable DR. Ref 14 Date Account Debited Invoice No. Sales Cr. 15 16 17 18 19 20 21 22 23 24 25 12 The Suziki Cash Receipts Journal Cost of Goods Sold Dr Merchandise Accounts Sales Other Receivable Cr Date Account Credited Ref. Explanation Cash Dr. Discount Dr Sales Cr. Inventory Cr. Accounts Cr. 13 14 15 16 17 18 19 20 21 22 -23 The Suziki Store Purchases Journal Other Accounts Date of Accounts Merchandise Date Account Credited Invoice Terms Ref. Payable Cr. Inventory Dr. Supplies Dr Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 20 27 28 20 11 12 The Suziki Store Cash Payments Journal Merchandise Other Accounts Date Ch. No. Payee Account Debited Ref. Cash Cr. Inventory Cr. Accounts Dr. Payable Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 15 General Journal Account Titles and Explanations 16 Date Debit Credit 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Sales Cash Receipts Purchases Cash Payments General Journal Ready The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and a General Journal. The Oak Store uses a perpetual inventory system. The following transactions occurred during July 2022: July 4 Purchased merchandise from Whale Co. for $8,500 under credit terms of 1/10, n/30, FOB factory. 6 Sold merchandise to Polar Co. for $7,400 under credit4 terms of 2/15, n/30, FOB destination. The cost of the merchandise was $3,600. Invoice #619. 9 Suziki Store requested a price reduction on the July 4 purchase because the merchandise did not meet specifications. Whale Co. agreed to a $400 price reduction to resolve the issue. 10 Paid Accurate Movers $450 with cheque #373 for shipping the merchandise to the customer for the July 6 sale.. 12 Sold merchandise to Beluga Co. for $1,350. Beluga paid immediately. The merchandise cost $868. 13 Issued a credit memo regarding a $1,750 allowance granted to Polar Co. to cover defective merchandise sold on July 6th. 13 Paid the balance due to Whale Co. with cheque #374. 15 Purchased a $1,700 Office Printer from Best Buy Inc. Terms Net 30. 18 Received Polar Co.'s payment of the amount due from the July 6 sale. Instructions: Record the above transactions in the appropriate journal in the data entry located in the Module 8 Learn Assessment Dropbox. Note: The General Journal is an all-purpose journal where we record any other transactions NOT recorded in the special journals (Sales, Receipts, Purchase and Cash Payment). One mark will be deducted for each transaction recorded on the General Journal that does not belong there. 12 13 The Suziki Store Sales Journal Cost of Goods Sold Dr. Merchandise Inventory Cr. Accounts Receivable DR. Ref 14 Date Account Debited Invoice No. Sales Cr. 15 16 17 18 19 20 21 22 23 24 25 12 The Suziki Cash Receipts Journal Cost of Goods Sold Dr Merchandise Accounts Sales Other Receivable Cr Date Account Credited Ref. Explanation Cash Dr. Discount Dr Sales Cr. Inventory Cr. Accounts Cr. 13 14 15 16 17 18 19 20 21 22 -23 The Suziki Store Purchases Journal Other Accounts Date of Accounts Merchandise Date Account Credited Invoice Terms Ref. Payable Cr. Inventory Dr. Supplies Dr Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 20 27 28 20 11 12 The Suziki Store Cash Payments Journal Merchandise Other Accounts Date Ch. No. Payee Account Debited Ref. Cash Cr. Inventory Cr. Accounts Dr. Payable Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 15 General Journal Account Titles and Explanations 16 Date Debit Credit 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Sales Cash Receipts Purchases Cash Payments General Journal Ready The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and a General Journal. The Oak Store uses a perpetual inventory system. The following transactions occurred during July 2022: July 4 Purchased merchandise from Whale Co. for $8,500 under credit terms of 1/10, n/30, FOB factory. 6 Sold merchandise to Polar Co. for $7,400 under credit4 terms of 2/15, n/30, FOB destination. The cost of the merchandise was $3,600. Invoice #619. 9 Suziki Store requested a price reduction on the July 4 purchase because the merchandise did not meet specifications. Whale Co. agreed to a $400 price reduction to resolve the issue. 10 Paid Accurate Movers $450 with cheque #373 for shipping the merchandise to the customer for the July 6 sale.. 12 Sold merchandise to Beluga Co. for $1,350. Beluga paid immediately. The merchandise cost $868. 13 Issued a credit memo regarding a $1,750 allowance granted to Polar Co. to cover defective merchandise sold on July 6th. 13 Paid the balance due to Whale Co. with cheque #374. 15 Purchased a $1,700 Office Printer from Best Buy Inc. Terms Net 30. 18 Received Polar Co.'s payment of the amount due from the July 6 sale. Instructions: Record the above transactions in the appropriate journal in the data entry located in the Module 8 Learn Assessment Dropbox. Note: The General Journal is an all-purpose journal where we record any other transactions NOT recorded in the special journals (Sales, Receipts, Purchase and Cash Payment). One mark will be deducted for each transaction recorded on the General Journal that does not belong there. 12 13 The Suziki Store Sales Journal Cost of Goods Sold Dr. Merchandise Inventory Cr. Accounts Receivable DR. Ref 14 Date Account Debited Invoice No. Sales Cr. 15 16 17 18 19 20 21 22 23 24 25 12 The Suziki Cash Receipts Journal Cost of Goods Sold Dr Merchandise Accounts Sales Other Receivable Cr Date Account Credited Ref. Explanation Cash Dr. Discount Dr Sales Cr. Inventory Cr. Accounts Cr. 13 14 15 16 17 18 19 20 21 22 -23 The Suziki Store Purchases Journal Other Accounts Date of Accounts Merchandise Date Account Credited Invoice Terms Ref. Payable Cr. Inventory Dr. Supplies Dr Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 20 27 28 20 11 12 The Suziki Store Cash Payments Journal Merchandise Other Accounts Date Ch. No. Payee Account Debited Ref. Cash Cr. Inventory Cr. Accounts Dr. Payable Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 15 General Journal Account Titles and Explanations 16 Date Debit Credit 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Sales Cash Receipts Purchases Cash Payments General Journal Ready The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and a General Journal. The Oak Store uses a perpetual inventory system. The following transactions occurred during July 2022: July 4 Purchased merchandise from Whale Co. for $8,500 under credit terms of 1/10, n/30, FOB factory. 6 Sold merchandise to Polar Co. for $7,400 under credit4 terms of 2/15, n/30, FOB destination. The cost of the merchandise was $3,600. Invoice #619. 9 Suziki Store requested a price reduction on the July 4 purchase because the merchandise did not meet specifications. Whale Co. agreed to a $400 price reduction to resolve the issue. 10 Paid Accurate Movers $450 with cheque #373 for shipping the merchandise to the customer for the July 6 sale.. 12 Sold merchandise to Beluga Co. for $1,350. Beluga paid immediately. The merchandise cost $868. 13 Issued a credit memo regarding a $1,750 allowance granted to Polar Co. to cover defective merchandise sold on July 6th. 13 Paid the balance due to Whale Co. with cheque #374. 15 Purchased a $1,700 Office Printer from Best Buy Inc. Terms Net 30. 18 Received Polar Co.'s payment of the amount due from the July 6 sale. Instructions: Record the above transactions in the appropriate journal in the data entry located in the Module 8 Learn Assessment Dropbox. Note: The General Journal is an all-purpose journal where we record any other transactions NOT recorded in the special journals (Sales, Receipts, Purchase and Cash Payment). One mark will be deducted for each transaction recorded on the General Journal that does not belong there. 12 13 The Suziki Store Sales Journal Cost of Goods Sold Dr. Merchandise Inventory Cr. Accounts Receivable DR. Ref 14 Date Account Debited Invoice No. Sales Cr. 15 16 17 18 19 20 21 22 23 24 25 12 The Suziki Cash Receipts Journal Cost of Goods Sold Dr Merchandise Accounts Sales Other Receivable Cr Date Account Credited Ref. Explanation Cash Dr. Discount Dr Sales Cr. Inventory Cr. Accounts Cr. 13 14 15 16 17 18 19 20 21 22 -23 The Suziki Store Purchases Journal Other Accounts Date of Accounts Merchandise Date Account Credited Invoice Terms Ref. Payable Cr. Inventory Dr. Supplies Dr Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 20 27 28 20 11 12 The Suziki Store Cash Payments Journal Merchandise Other Accounts Date Ch. No. Payee Account Debited Ref. Cash Cr. Inventory Cr. Accounts Dr. Payable Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 15 General Journal Account Titles and Explanations 16 Date Debit Credit 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Sales Cash Receipts Purchases Cash Payments General Journal Ready The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and a General Journal. The Oak Store uses a perpetual inventory system. The following transactions occurred during July 2022: July 4 Purchased merchandise from Whale Co. for $8,500 under credit terms of 1/10, n/30, FOB factory. 6 Sold merchandise to Polar Co. for $7,400 under credit4 terms of 2/15, n/30, FOB destination. The cost of the merchandise was $3,600. Invoice #619. 9 Suziki Store requested a price reduction on the July 4 purchase because the merchandise did not meet specifications. Whale Co. agreed to a $400 price reduction to resolve the issue. 10 Paid Accurate Movers $450 with cheque #373 for shipping the merchandise to the customer for the July 6 sale.. 12 Sold merchandise to Beluga Co. for $1,350. Beluga paid immediately. The merchandise cost $868. 13 Issued a credit memo regarding a $1,750 allowance granted to Polar Co. to cover defective merchandise sold on July 6th. 13 Paid the balance due to Whale Co. with cheque #374. 15 Purchased a $1,700 Office Printer from Best Buy Inc. Terms Net 30. 18 Received Polar Co.'s payment of the amount due from the July 6 sale. Instructions: Record the above transactions in the appropriate journal in the data entry located in the Module 8 Learn Assessment Dropbox. Note: The General Journal is an all-purpose journal where we record any other transactions NOT recorded in the special journals (Sales, Receipts, Purchase and Cash Payment). One mark will be deducted for each transaction recorded on the General Journal that does not belong there. 12 13 The Suziki Store Sales Journal Cost of Goods Sold Dr. Merchandise Inventory Cr. Accounts Receivable DR. Ref 14 Date Account Debited Invoice No. Sales Cr. 15 16 17 18 19 20 21 22 23 24 25 12 The Suziki Cash Receipts Journal Cost of Goods Sold Dr Merchandise Accounts Sales Other Receivable Cr Date Account Credited Ref. Explanation Cash Dr. Discount Dr Sales Cr. Inventory Cr. Accounts Cr. 13 14 15 16 17 18 19 20 21 22 -23 The Suziki Store Purchases Journal Other Accounts Date of Accounts Merchandise Date Account Credited Invoice Terms Ref. Payable Cr. Inventory Dr. Supplies Dr Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 20 27 28 20 11 12 The Suziki Store Cash Payments Journal Merchandise Other Accounts Date Ch. No. Payee Account Debited Ref. Cash Cr. Inventory Cr. Accounts Dr. Payable Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 15 General Journal Account Titles and Explanations 16 Date Debit Credit 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Sales Cash Receipts Purchases Cash Payments General Journal Ready The Suziki Store uses a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Payments Journal and a General Journal. The Oak Store uses a perpetual inventory system. The following transactions occurred during July 2022: July 4 Purchased merchandise from Whale Co. for $8,500 under credit terms of 1/10, n/30, FOB factory. 6 Sold merchandise to Polar Co. for $7,400 under credit4 terms of 2/15, n/30, FOB destination. The cost of the merchandise was $3,600. Invoice #619. 9 Suziki Store requested a price reduction on the July 4 purchase because the merchandise did not meet specifications. Whale Co. agreed to a $400 price reduction to resolve the issue. 10 Paid Accurate Movers $450 with cheque #373 for shipping the merchandise to the customer for the July 6 sale.. 12 Sold merchandise to Beluga Co. for $1,350. Beluga paid immediately. The merchandise cost $868. 13 Issued a credit memo regarding a $1,750 allowance granted to Polar Co. to cover defective merchandise sold on July 6th. 13 Paid the balance due to Whale Co. with cheque #374. 15 Purchased a $1,700 Office Printer from Best Buy Inc. Terms Net 30. 18 Received Polar Co.'s payment of the amount due from the July 6 sale. Instructions: Record the above transactions in the appropriate journal in the data entry located in the Module 8 Learn Assessment Dropbox. Note: The General Journal is an all-purpose journal where we record any other transactions NOT recorded in the special journals (Sales, Receipts, Purchase and Cash Payment). One mark will be deducted for each transaction recorded on the General Journal that does not belong there. 12 13 The Suziki Store Sales Journal Cost of Goods Sold Dr. Merchandise Inventory Cr. Accounts Receivable DR. Ref 14 Date Account Debited Invoice No. Sales Cr. 15 16 17 18 19 20 21 22 23 24 25 12 The Suziki Cash Receipts Journal Cost of Goods Sold Dr Merchandise Accounts Sales Other Receivable Cr Date Account Credited Ref. Explanation Cash Dr. Discount Dr Sales Cr. Inventory Cr. Accounts Cr. 13 14 15 16 17 18 19 20 21 22 -23 The Suziki Store Purchases Journal Other Accounts Date of Accounts Merchandise Date Account Credited Invoice Terms Ref. Payable Cr. Inventory Dr. Supplies Dr Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 20 27 28 20 11 12 The Suziki Store Cash Payments Journal Merchandise Other Accounts Date Ch. No. Payee Account Debited Ref. Cash Cr. Inventory Cr. Accounts Dr. Payable Dr. 13 14 15 16 17 18 19 20 21 22 23 24 25 15 General Journal Account Titles and Explanations 16 Date Debit Credit 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Sales Cash Receipts Purchases Cash Payments General Journal Ready

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