Question

The following transactions occurred for Rachel’s Natural Food. If using working papers, be sure to put in beginning balances.
201X
Aug. 8 Purchased $800 of merchandise on account from Airon Co., invoice no. 400, dated August 9; terms 6/10, n/60.
10 Purchased $1,100 of merchandise on account from Bixby Co., invoice no. 420, dated August 11; terms 6/10, n/60.
12 Purchased $500 of store supplies on account from Mixon Co., invoice no. 510, dated August 13.
14 Issued debit memo no. 8 to Airon Co. for merchandise returned, $400, from invoice no. 400.
17 Purchased $620 of office equipment on account from Ryan Co., invoice no. 810, dated August 18.
24 Purchased $500 of additional store supplies on account from Mixon Co., invoice no. 516, dated August 25; terms 6/10, n/30.
Your tasks are to do the following:


1. Journalize the transactions.
2. Post and record as appropriate.
3. Prepare a schedule of accountspayable.


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  • CreatedApril 24, 2014
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