fill the below Purchase Journal: Chart of Accounts Assets 101 Cash 104 Accounts Receivable 110 Inventory 120
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fill the below Purchase Journal:
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Chart of Accounts Assets 101 Cash 104 Accounts Receivable 110 Inventory 120 Computer Equipment 125 Vehicle Liabilities 204 Accounts Payable Owner's Equity 300 Sam Smith, Withdrawals 301 Sam Smith, Capital Revenue 400 Sales 402 Sales Discounts 404 Sales Returns and Allowances Expenses 500 Advertising Expense 505 Rent Expense 510 Salaries Expense 515 Supplies Expense 518 Cost of Goods Sold 525 Telephone Expense Below are the transactions for October 2018, for The Brown Company. Owner, Sam Smith has asked you the office manager to record the transactions into the correct journal. He has supplied you with the following journals, General Journal, Sales Journal, Cash Receipts Journal, Purchase Journal and Cash Payments Journal 2 Owner made a cash investment into the company $25,000 2 Purchased merchandise on account from Racks Co., invoice No. 743. Terms 2/10, n/30, $700. 3 Paid this months' rent. $920 to the landlord Shifty Rentals Inc., cheque 202 3 Sold $2.500 of merchandise on account to H. Holand, sales invoice No. 1. terms 1/10. n/30. Cost of goods sold $1,400 4 Purchased merchandise on account from Gary Co., invoice No. 819. Terms 3/15, 45, $1.500. 5 Sold $1,200 of merchandise on account to T. Traer, sales invoice No. 2, terms 1/10, n/30. Cost of Goods Sold $550 6 Issued debit memorandum No. 101 to Racks Co. for damaged goods re: invoice No. 743,5 300. 8 Bought supplies on account from Staples for $100, Invoice #325, term n/30 10 Paid salaries. $700, cheque 203 10 Sent cheque No. 204 to Racks Co. for invoice No. 743 less returns and discount 13 Received cash from H Holand in payment for October 3 transaction, less the discount 14 Issued credit memo No. 1 to T. Traer for $100 for merchandise returned from Oct 5 sale on account Cost of goods returned $25. 15 Paid for supplies purchased on October 8, cheque 205 15 Received cash from T. Traer for the amount due, less the returns and discount 17 Sent cheque No. 206 to Gary Co for invoice No. 819 less discount. 21 Received Bell Co. telephone bill, to be paid later, 550, term n/30 21 Purchased merchandise on account from Racks Co, invoice No. 784. Terms 2/10, 1/30, $1,050 23 Sold $500 merchandise for cash, sales imvoice No. 3 Cost of goods sold $250 24 Purchased merchandise from Saw Co. for $1,000 with cheque 207 29 Sold $3,600 of merchandise to C Happy FOB shipping point, Invoice no 4, terms 1/10, n/30. Cost of goods sold $1.800. 29 C. Happy was unhappy with some of the goods and returned $300 debit memo 103. Cost of goods returned $150. 30 C Happy paid her account in full today less returns and discount. 31 Withdrew $400 from the business, cheque 208 31 Puchased new computer system from IBM computer solutions for $7,800, Invoice 6285 Paid cash $6,300 (chq #209) and put the remaining balance on account. Terms n/30. Chart of Accounts Assets 101 Cash 104 Accounts Receivable 110 Inventory 120 Computer Equipment 125 Vehicle Liabilities 204 Accounts Payable Owner's Equity 300 Sam Smith, Withdrawals 301 Sam Smith, Capital Revenue 400 Sales 402 Sales Discounts 404 Sales Returns and Allowances Expenses 500 Advertising Expense 505 Rent Expense 510 Salaries Expense 515 Supplies Expense 518 Cost of Goods Sold 525 Telephone Expense Below are the transactions for October 2018, for The Brown Company. Owner, Sam Smith has asked you the office manager to record the transactions into the correct journal. He has supplied you with the following journals, General Journal, Sales Journal, Cash Receipts Journal, Purchase Journal and Cash Payments Journal 2 Owner made a cash investment into the company $25,000 2 Purchased merchandise on account from Racks Co., invoice No. 743. Terms 2/10, n/30, $700. 3 Paid this months' rent. $920 to the landlord Shifty Rentals Inc., cheque 202 3 Sold $2.500 of merchandise on account to H. Holand, sales invoice No. 1. terms 1/10. n/30. Cost of goods sold $1,400 4 Purchased merchandise on account from Gary Co., invoice No. 819. Terms 3/15, 45, $1.500. 5 Sold $1,200 of merchandise on account to T. Traer, sales invoice No. 2, terms 1/10, n/30. Cost of Goods Sold $550 6 Issued debit memorandum No. 101 to Racks Co. for damaged goods re: invoice No. 743,5 300. 8 Bought supplies on account from Staples for $100, Invoice #325, term n/30 10 Paid salaries. $700, cheque 203 10 Sent cheque No. 204 to Racks Co. for invoice No. 743 less returns and discount 13 Received cash from H Holand in payment for October 3 transaction, less the discount 14 Issued credit memo No. 1 to T. Traer for $100 for merchandise returned from Oct 5 sale on account Cost of goods returned $25. 15 Paid for supplies purchased on October 8, cheque 205 15 Received cash from T. Traer for the amount due, less the returns and discount 17 Sent cheque No. 206 to Gary Co for invoice No. 819 less discount. 21 Received Bell Co. telephone bill, to be paid later, 550, term n/30 21 Purchased merchandise on account from Racks Co, invoice No. 784. Terms 2/10, 1/30, $1,050 23 Sold $500 merchandise for cash, sales imvoice No. 3 Cost of goods sold $250 24 Purchased merchandise from Saw Co. for $1,000 with cheque 207 29 Sold $3,600 of merchandise to C Happy FOB shipping point, Invoice no 4, terms 1/10, n/30. Cost of goods sold $1.800. 29 C. Happy was unhappy with some of the goods and returned $300 debit memo 103. Cost of goods returned $150. 30 C Happy paid her account in full today less returns and discount. 31 Withdrew $400 from the business, cheque 208 31 Puchased new computer system from IBM computer solutions for $7,800, Invoice 6285 Paid cash $6,300 (chq #209) and put the remaining balance on account. Terms n/30.
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