Selected accounts from the ledgers of Lockhart Company at July 31 showed the following. InstructionsFrom the data
Question:
Selected accounts from the ledgers of Lockhart Company at July 31 showed the following.
InstructionsFrom the data prepare:(a) The single-column purchases journal for July.(b) The general journal entries forJuly.
Transcribed Image Text:
GENERAL LEDGER Merchandise Inventory Store Equipment No. 153 No. 120 Credit Balance Explanation Ref. Debit Explanation Ref. Debit Date Date Credit Balance July 1 G1 3,900 3,900 July 15 G1 400 400 300 18 G1 100 Accounts Payable No. 201 25 G1 200 100 Explanation Date Ref. Debit Credit Balance 31 P1 8.300 8.400 July 1 G1 3.900 3,900 15 G1 400 4.300 18 G1 100 4.200 25 G1 200 4,000 31 P1 8.300 12.300 ACCOUNTS PAYABLE LEDGER Albin Equipment Co. Drago Co. Explanation Ref. Debit Date Explanation Ref. Debit Credit Balance Date Credit Balance July 1 GI 3.900 3.900 July 14 P1 1,100 1,100 25 G1 200 900 Brian Co. Erik Co. Explanation Ref. Explanation Ref. Date Debit Credit Balance Date Debit Credit Balance July 3 P1 2,400 2,400 July 12 P1 500 500 20 P1 700 3,100 21 P1 600 1.100 Chacon Corp Heinen Inc. Explanation Ref. Balance Date Explanation Ref. Debit Credit Date Debit Credit Balance July 17 18 P1 1,400 1,400 July 15 G1 400 400 G1 100 1.300 1,600 29 P1 2.900
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Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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