Chapter 7 p. 514 Problem Set A PA3

The following transactions occurred for Donaldson Inc. during the month of July.

Jul. 1 Sold 50 items to Palm Springs Inc. and offered terms of 2/10, n/30, $4,000 on July 1, and issued invoice #12 on account number #312 Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,150 cash on July 5, and issued invoice #13 Jul. 8 Sold 30 what-is to Smith Mfg. for $5,000 and offered terms of 2/10, n/30; issued invoice #14 on account number #178 Jul. 9 Received payment from Palm Springs Inc. Jul. 22 Received payment from Smith Mfg. after expiration of the discount period

A. Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger.

SALES JOURNAL					Page 22
Date	Account	Invoice No.	Ref.	DR Accts. Receivable CR Sales	DR COGS CR Merchandise Inventory
2019
Jul. 1	Palm Springs Inc. (312)	12			2,000.00
Jul. 8	Smith Mfg (178)	14			2,500.00

CASH RECEIPTS JOURNAL						Page 24
Date	Account	Invoice No.	Ref.	Cash DR	Sales Discounts DR		Accounts Receivable, Sales, or other accounts CR
2018
Jul. 5	Miami Inc.	13
Jul. 9	Palm Springs (312)
Jul. 22	Smith Mfg (178)

NAME			Palm Spring Inc.				312
	DATE		DESCRIPTION	POST REF.	DEBIT	CREDIT	BALANCE
	2019
	July	1	Sale	SJ22
		9	Payment	CR24
NAME			Smith Mfg.				178
	DATE		DESCRIPTION	POST REF.	DEBIT	CREDIT	BALANCE
	2019
	July	8	Sale	SJ22
		9	Payment	CR24