A. Rita Lopez has opened Food on the Go, a wholesale grocery and pizza company,in Edmonton. The following transactions occurred in June:2022June1 Sold merchandise to Joe Kase Co. on account, $400,invoice No. 702. Cost of inventory was $280.4 Sold merchandise to Sue Moore Co. on account, $600,invoice No. 703. Cost of inventory was $420.8 Sold merchandise to Long Co. on account, $700, invoice No. 704.Cost of inventory was $490.Issued credit memorandum No. 34 to Joe Kase Co. for $150worth of grocery merchandise returned because of spoilage.Cost of inventory was $105.000, 15 Sold merchandise to Sue Moore Co. on account, $180, invoiceNo. 705. Cost of inventory was $126. modoSold merchandise to Long Co. on account, $300, invoice No. 706.Cost of inventory was $210.25 Sold merchandise to Joe Kase Co. on account, $1,200, invoiceNo. 707. Cost of inventory was $840.18 56789101112131415161718192021222324252627282930313233343536EFOOD ON THE GOPARTIAL GENERAL LEDGERACCOUNTS RECEIVABLEExplanationINVENTORYExplanationSALESPostRef.ExplanationDebit CreditPost Debit CreditRefPost Debit CreditRef.COST OF GOODS SOLDExplanationPR DebitCreditGHACCOUNT NO. 12(DriCr BalanceACCOUNT NO. 115DriCr BalanceACCOUNT NO. 401DriCr BalanceACCOUNT NO. 50DriCr BalanceKLMA

Name: A. Rita Lopez has opened Food on the Go, a wholesale grocery and pizz
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Description: A. Rita Lopez has opened Food on the Go, a wholesale grocery and pizza company,in Edmonton. The following transactions occurred in June:2022June1 Sold merchandise to Joe Kase Co. on account, $400,invoice No. 702. Cost of inventory was $280.4 Sold me

1. Journal entry: When a transaction is made a journal entry is passed to record it. we are…

Business

Accounting

FOOD ON THE GO PARTIAL GENERAL LEDGER ACCOUNTS RECEIVABLE Explanation INVENTORY Explanation SALES Post Ref. Explanation Debit Credit Post Debit Credit Ref. Post Debit Credit Ref. COST OF GOODS SOLD Explanation PR Debit Credit G ACCOUNT NO. 120 DrCr Balance ACCOUNT NO. 115 DriCr Balance ACCOUNT NO. 400 DriCr Balance ACCOUNT NO. 502 DriCr Balance K M

FOOD ON THE GO PARTIAL GENERAL LEDGER ACCOUNTS RECEIVABLE Explanation INVENTORY Explanation SALES Post Ref. Explanation Debit Credit Post Debit Credit Ref. Post Debit Credit Ref. COST OF GOODS SOLD Explanation PR Debit Credit G ACCOUNT NO. 120 DrCr Balance ACCOUNT NO. 115 DriCr Balance ACCOUNT NO. 400 DriCr Balance ACCOUNT NO. 502 DriCr Balance K M

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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