ezto.mheducation.com + M Question 2 - Chapter 7 - Homework - Connect Dashboard Chapter 7 - Homework Saved Help Save & Exit Submit Check my work 2 Required information [The following information applies to the questions displayed below.] Part 2 of 2 Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). April 2 Purchased $14,900 of merchandise on credit from Noth Company, 8 terms 2/10, n/60. 00:52:27 April 3 (a) Sold merchandise on credit to Page Alistair, Invoice Number 760, for $7,000 (cost is $6, 000) . April 3 (b) Purchased $1, 470 of office supplies on credit from Custer, Incorporated, terms n/30. April 4 Issued Check Number 587 to World View for advertising expense of eBook $868. April 5 Sold merchandise on credit to Paula Kohr, Invoice Number 761, for $18,000 (cost is $16, 500). Print April 6 Returned $80 of office supplies purchased on April 3 to Custer, Incorporated. Wiset reduces accounts payable by that amount. April 9 Purchased $12, 025 of store equipment on credit from Hal's Supply, terms n/30. April 11 Sold merchandise on credit to Nic Nelson, Invoice Number 762, for $20,500 (cost is $17, 000). April 12 Issued Check Number 588 to Noth Company in payment of its April 2 purchase less the discount of $298. April 13 (a) Received payment from Page Alistair for the April 3 sale less the discount of $140. April 13 (b) Sold $9,500 of merchandise on credit to Page Alistair (cost is $8, 000), Invoice Number 763. April 14 Received payment from Paula Kohr for the April 5 sale less the discount of $360. April 16 (a) Issued Check Number 589 for $10, 150; payee is Payroll, in payment of sales salaries expense for the first half of the month. April 16 (b) Cash sales for the first half of the month are $53, 140 (cost is $36, 180) . These cash sales are recorded in the cash receipts journal on April 16. April 17 Purchased $13, 250 of merchandise on credit from Grant Company, terms 2/10, n/30. April 18 Borrowed $70,000 cash from First State Bank by signing a long- term note payable. April 20 (a) Received payment from Nic Nelson for the April 11 sale less the discount of $410. April 20 (b) Purchased $730 of store supplies on credit from Hal's Supply, terms n/30. April 23 (a) Returned $750 of defective merchandise purchased on April 17 to Grant Company. Wiset reduces accounts payable by that amount. April 23 (b) Received payment from Page Alistair for the April 13 sale less the discount of $190. Anmil ne Dunsharad 411 075 of ezto.mheducation.com + M Question 2 - Chapter 7 - Homework - Connect Dashboard Chapter 7 - Homework Saved Help Save & Exit Submit Check my work 2 Incorporated. Wiset reduces accounts payable by that amount. April 9 Purchased $12, 025 of store equipment on credit from Hal's Supply, terms n/30. Part 2 of 2 April 11 Sold merchandise on credit to Nic Nelson, Invoice Number 762, for $20,500 (cost is $17 , 000) . April 12 Issued Check Number 588 to Noth Company in payment of its April 2 purchase less the discount of $298. 8 April 13 (a) Received payment from Page Alistair for the April 3 sale less the 00:52:23 discount of $140. April 13 (b) Sold $9,500 of merchandise on credit to Page Alistair (cost is $8, 000), Invoice Number 763. April 14 Received payment from Paula Kohr for the April 5 sale less the discount of $360. eBook April 16 (a) Issued Check Number 589 for $10, 150; payee is Payroll, in payment of sales salaries expense for the first half of the month. April 16 (b) Cash sales for the first half of the month are $53, 140 (cost is Print $36, 180). These cash sales are recorded in the cash receipts journal on April 16. April 17 Purchased $13, 250 of merchandise on credit from Grant Company, terms 2/10, n/30. April 18 Borrowed $70,000 cash from First State Bank by signing a long- term note payable. April 20 (a) Received payment from Nic Nelson for the April 11 sale less the discount of $410. April 20 (b) Purchased $730 of store supplies on credit from Hal's Supply, terms n/30. April 23 (a) Returned $750 of defective merchandise purchased on April 17 to Grant Company. Wiset reduces accounts payable by that amount. April 23 (b) Received payment from Page Alistair for the April 13 sale less the discount of $190. April 25 Purchased $11, 975 of merchandise on credit from Noth Company, terms 2/10, n/60. April 26 Issued Check Number 590 to Grant Company in payment of its April 17 invoice less the return and the $250 discount. April 27 (a) Sold $7,340 of merchandise on credit to Paula Kohr, Invoice Number 764 (cost is $6, 690). April 27 (b) Sold $13, 400 of merchandise on credit to Nic Nelson, Invoice Number 765 (cost is $11, 005). April 30 (a) Issued Check Number 591 for $10, 150; payee is Payroll, in payment of the sales salaries expense for the last half of the month. " BIN April 30 (b) Cash sales for the last half of the month are $74,975 (cost is $59,900) . These cash sales are recorded in the cash receipts journal on April 30. Required: ezto.mheducation.com + M Question 2 - Chapter 7 - Homework - Connect Start Page Chapter 7 - Homework Saved Help Save & Exit Submit Check my work 2 journal on April 30. Part 2 of 2 Required: 1-a. Enter the transactions of the Wiset Company that should be journalized in the purchases journal. 1-b. Enter the transactions of the Wiset Company that should be journalized in the cash payments journal. 8 1-c. Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general 00:33:34 journal. 2. Enter the March 31 balances of Cash ($86,000), Inventory ($181,000), Long-Term Notes Payable ($167,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the respective general ledger accounts. 3. Enter the March 31 balances of Cash ($86,000), Inventory ($181,000), Long-Term Notes Payable ($167,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the respective accounts payable subsidiary ledger eBook accounts for Hal's Supply, Noth Company, Grant Company and Custer, Incorporated. 4-a. Prepare a trial balance of the general ledger accounts. 4-b. Prepare a schedule of accounts payable. Print Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2 Req 3 Req 4A Req 4B Enter the transactions of the Wiset Company that should be journalized in the purchases journal. PURCHASES JOURNAL Accounts Inventory Office Other Date Account Date of Invoice Terms Payable Debit Supplies Accounts Credit Debit Debit April 02 Noth Company April 03 Page Alistair April 09 Store equipment/Hal's Supply April 17 Grant Company April 20 Nic Nelson April 25 Noth Company April 30 Totals $ 0 $ 0 $ O $ NOV 2 1 tv Wezto.mheducation.com + M Question 2 - Chapter 7 - Homework - Connect Start Page Chapter 7 - Homework Saved Help Save & Exit Submit Check my work 2 journal on April 30. Part 2 of 2 Required: 1-a. Enter the transactions of the Wiset Company that should be journalized in the purchases journal. 1-b. Enter the transactions of the Wiset Company that should be journalized in the cash payments journal. 8 1-c. Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general 00:33:17 journal. 2. Enter the March 31 balances of Cash ($86,000), Inventory ($181,000), Long-Term Notes Payable ($167,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the respective general ledger accounts. 3. Enter the March 31 balances of Cash ($86,000), Inventory ($181,000), Long-Term Notes Payable ($167,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the respective accounts payable subsidiary ledger eBook accounts for Hal's Supply, Noth Company, Grant Company and Custer, Incorporated. 4-a. Prepare a trial balance of the general ledger accounts. 4-b. Prepare a schedule of accounts payable. Print Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2 Req 3 Req 4A Req 4B Enter the transactions of the Wiset Company that should be journalized in the cash payments journal. CASH PAYMENTS JOURNAL Date Check Other Accounts Payee Account Debited Cash Inventory Number Credit Credit Accounts Payable Debit Debit April 30 Totals $ 0 $ o $ o $ 0 ezto.mheducation.com + M Question 2 - Chapter 7 - Homework - Connect Start Page Chapter 7 - Homework Saved Help Save & Exit Submit Check my work 2 Required information Part 2 of 2 Complete this question by entering your answers in the tabs below. 8 Req 1A Req 1B Req 1C Reg 2 Req 3 Req 4A Req 4B 00:33:07 Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general journal. eBook View transaction list Print Journal entry worksheet 1 2 Returned $80 of office supplies purchased on April 3 to Custer, Incorporated. Wiset reduces accounts payable by that amount. Note: Enter debits before credits. Date General Journal Debit Credit April 06 Record entry View general journal Clear entry Req 1B Req 2 > ezto.mheducation.com + M Question 2 - Chapter 7 - Homework - Connect Start Page Chapter 7 - Homework Saved Help Save & Exit Submit Check my work 2 Required information Part 2 of 2 Enter the March 31 balances of Cash ($86,000), Inventory ($181,000), Long-Term Notes Payable ($167,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the respective general ledger accounts. Show less 8 00:32:59 GENERAL LEDGER Cash Inventory Date Debit Credit Balance Date Debit Credit Balance March 31 March 31 eBook Print Office Supplies Store Supplies Date Debit Credit Balance Date Debit Credit Balance Store Equipment Accounts Payable Date Debit Credit Balance Date Debit Credit Balance Long-Term Notes Payable B. Wiset, Capital Date Debit Credit Balance Date Debit Credit Balance March 31 March 31 Sales Salaries Expense Advertising Expense Date Debit Credit Balance Date Debit Credit Balance ezto.mheducation.com + M Question 2 - Chapter 7 - Homework - Connect Start Page Chapter 7 - Homework Saved Help Save & Exit Submit Check my work 2 O Required information Wiset, Capital ($100,000). Post the total amounts from the journal in the respective accounts payable subsidiary ledger Part 2 of 2 accounts for Hal's Supply, Noth Company, Grant Company and Custer, Incorporated. 4-a. Prepare a trial balance of the general ledger accounts. 4-b. Prepare a schedule of accounts payable. 8 00:32:55 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2 Req 3 Req 4A Req 4B eBook Enter the March 31 balances of Cash ($86,000), Inventory ($181,000), Long-Term Notes Payable ($167,000), and B. Wiset, Capital ($100,000). Post the total amounts from the journal in the respective accounts payable subsidiary ledger accounts for Hal's Supply, Noth Company, Grant Company Print and Custer, Incorporated. Show lessA ACCOUNTS PAYABLE LEDGER Custer, Incorporated Grant Company Date Debit Credit Balance Date Debit Credit Balance Hal's Supply Noth Company Date Debit Credit Balance Date Debit Credit Balance