Rita Lopez has opened Food on the Go, a wholesale grocery and pizza company, in Edmonton. The
Question:
Rita Lopez has opened Food on the Go, a wholesale grocery and pizza company, in Edmonton. The following transactions occurred in June:
Required
a. Journalize the transactions in the appropriate journals.
b. Record in the accounts receivable subsidiary ledger.
c. Prepare a schedule of accounts receivable.
Transcribed Image Text:
2022 June 1 Sold merchandise to Joe Kase Co. on account, $400, invoice No. 702. Cost of inventory was $280. 4 Sold merchandise to Sue Moore Co. on account, $600, invoice No. 703. Cost of inventory was $420. 11 Sold merchandise to Long Co. on account, $700, invoice No. 704. Cost of inventory was $490. 25 Issued credit memorandum No. 34 to Joe Kase Co. for $150 worth of grocery merchandise returned because of spoilage. Cost of inventory was $105. 15 Sold merchandise to Sue Moore Co. on account, $180, invoice No. 705. Cost of inventory was $126. 18 Sold merchandise to Long Co. on account, $300, invoice No. 706. Cost of inventory was $210. Sold merchandise to Joe Kase Co. on account, $1,200, invoice No. 707. Cost of inventory was $840.
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Date 2022 June 1 4 8 15 18 25 Date 2022 June Invoice No FOOD ON THE GO SALES JOURNAL Customers Name ...View the full answer
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PALASH JHANWAR
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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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