FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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.
CASH PAYMENTS JOURNAL
Other
Accounts
Date
Ck. No
Рaye
Account Debited
Cash Cr.
Inventory Cr.
Accounts Dr.
Payable Dr.
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Transcribed Image Text: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. CASH PAYMENTS JOURNAL Other Accounts Date Ck. No Рaye Account Debited Cash Cr. Inventory Cr. Accounts Dr. Payable Dr.
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