Q-6-6. Rock Castle Construction Accounting transactions resulting from processing

purchasing and cash disbursement transactions

For each of the following transactions, select the proper accounting entry

from the list provided.

c. The inventory received on a purchase order was paid for within 20

days of the purchase. Payment terms on invoice were 2% 10, Net 30.

1. DR A/C #20000 Accounts Payable

CR A/C #10100 Checking

CR A/C #54599 Less Discounts Taken

2. DR A/C #20000 Accounts Payable

CR A/C #50100 Cost of Goods Sold

3. DR A/C # 20000 Accounts Payable

CR A/C #10100 Checking

4. DR A/C #50100 Cost of Goods Sold

CR A/C #10100 Checking

d. An invoice was received and processed, but not paid for from Cal

Gas & Electric.

1. DR A/C #65100 Utilities

CR A/C #10100 Checking

2. DR A/C #65100 Utilities

CR A/C #54300 Job Materials

3. DR A/C #65100 Utilities

CR A/C #20600 CalOil Credit Card

4. DR A/C #65100 Utilities

CR A/C #20000 Accounts Payable