Marx Supply uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash payments journal. April 3 Purchased merchandise for $2,800 on credit from Seth, Inc., terms 2/10, n/30. 9 Issued check no. 210 to Kitt Corp. to buy store supplies for $448. 12 Sold merchandise costing $498 to C. Myrs for $837 on credit, terms n/30. 17 Issued check no. 211 for $1,500 to pay off a note payable to City Bank. 20 Purchased merchandise for $3,400 on credit from Lite, terms 2/10, n/30. 28 Issued check no. 212 to Lite to pay the amount due for the purchase of April 20 less the discount of $68. 29 Paid salary of $1,750 to B. Dock by issuing check no. 213. 30 Issued check no. 214 to Seth, Inc., $2,800 to pay for the April 3 purchase.

Marx Supply uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash payments journal. April 3 Purchased merchandise for $2,800 on credit from Seth, Inc., terms 2/10, n/30. 9 Issued check no. 210 to Kitt Corp. to buy store supplies for $448. 12 Sold merchandise costing $498 to C. Myrs for $837 on credit, terms n/30. 17 Issued check no. 211 for $1,500 to pay off a note payable to City Bank. 20 Purchased merchandise for $3,400 on credit from Lite, terms 2/10, n/30. 28 Issued check no. 212 to Lite to pay the amount due for the purchase of April 20 less the discount of $68. 29 Paid salary of $1,750 to B. Dock by issuing check no. 213. 30 Issued check no. 214 to Seth, Inc., $2,800 to pay for the April 3 purchase.

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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