As the accountant of Reannes Natural Food Store of Cold Lake, (a) Journalize the following transactions in
Question:
As the accountant of Reanne’s Natural Food Store of Cold Lake,
(a) Journalize the following transactions in the purchases (page 10) or general journal (page 2).
(b) Record and post as appropriate.
(c) Prepare a schedule of accounts payable as of May 31, 2021. Beginning balances are in the Excel templates in MyLab Accounting.
Transcribed Image Text:
2021 May 8 Purchased merchandise on account from Broward Co., invoice No. 420, dated May 8, terms 2/10, n/60, $500, plus 5% GST. Purchased merchandise on account from Emerson Co., invoice No. 400, dated May 11, terms 2/10, n/60, $900, plus GST. 11 14 Purchased store supplies on account from Serena Co., invoice No. 510, dated May 11, $800, plus GST. 15 Issued debit memo No. 7 to Emerson 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, $750, plus GST. 25 Purchased additional store supplies on account from Serena Co., invoice No. 516, dated May 25, terms 2/10, n/30, $850, 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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