Pashak OAO uses special journals and a general journal. The following transactions occurred during September 2017. Sept.
Question:
Pashak OAO uses special journals and a general journal. The following transactions occurred during September 2017.
Sept. 2 Sold merchandise on account to J. Witten, invoice no. 101, R$780, terms n/30. The cost of the merchandise sold was R$420.
10 Purchased merchandise on account from H. Gilles R$600, terms 2/10, n/30.
12 Purchased office equipment on account from Y. Kojima R$6,500.
21 Sold merchandise on account to K. Morgan, invoice no. 102 for R$800, terms 2/10, n/30. The cost of the merchandise sold was R$480.
25 Purchased merchandise on account from G. Harvey R$835, terms n/30.
27 Sold merchandise to D. Schaff for R$700 cash. The cost of the merchandise sold was R$400.
Instructions
(a) Prepare a sales journal (see Illustration G-6) and a single-column purchases journal (see Illustration G-12). (Use page 1 for each journal.)
(b) Record the transaction(s) for September that should be journalized in the sales journal and the purchases journal.
Step by Step Answer:
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso