Debbie Mueller owns a small retail business called Debbie's Doll House. The cash account has a balance of $20,000 on July 1. The following transactions occurred during July: July Transactions: Issued Check No. 314 for July rent, $1,400. Purchased merchandise on account from Topper's Toys, Invoice No. 211, $2,500, July 1 1 terms 2/10, n/30. Purchased merchandise on account from Jones & Company, Invoice No. 812, $2,800, terms 1/10, n/30. Returned merchandise purchased from Topper's Toys receiving a credit memo on the amount owed, $400. Purchased merchandise on account from Downtown Merchants, Invoice No. 159, $1,600, terms 2/10, n/30. 11 Issued Check No. 315 to Topper's Toys for merchandise purchased on account, less return of July 5 and less 2% discount. 13 Issued Check No. 316 to Jones & Company for merchandise purchased on account, less 1% discount. 15 Returned merchandise purchased from Downtown Merchants receiving a credit memo on the amount owed, $600. Issued Check No. 317 to Downtown Merchants for merchandise purchased on account, less return of July 15 and less 2% discount. 18 25 Purchased merchandise on account from Columbia Products, Invoice No. 468, $3,200, terms n/30.
Debbie Mueller owns a small retail business called Debbie's Doll House. The cash account has a balance of $20,000 on July 1. The following transactions occurred during July: July Transactions: Issued Check No. 314 for July rent, $1,400. Purchased merchandise on account from Topper's Toys, Invoice No. 211, $2,500, July 1 1 terms 2/10, n/30. Purchased merchandise on account from Jones & Company, Invoice No. 812, $2,800, terms 1/10, n/30. Returned merchandise purchased from Topper's Toys receiving a credit memo on the amount owed, $400. Purchased merchandise on account from Downtown Merchants, Invoice No. 159, $1,600, terms 2/10, n/30. 11 Issued Check No. 315 to Topper's Toys for merchandise purchased on account, less return of July 5 and less 2% discount. 13 Issued Check No. 316 to Jones & Company for merchandise purchased on account, less 1% discount. 15 Returned merchandise purchased from Downtown Merchants receiving a credit memo on the amount owed, $600. Issued Check No. 317 to Downtown Merchants for merchandise purchased on account, less return of July 15 and less 2% discount. 18 25 Purchased merchandise on account from Columbia Products, Invoice No. 468, $3,200, terms n/30.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter12: Special Journals
Section: Chapter Questions
Problem 12SPB: PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND GENERAL JOURNAL Debbie Mueller owns a small retail...
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