CHAPTER 19 Recording Purchases and Cash Payments Using Special Journals.
Purchased merchandise for cash. Debit Purchases Credit Cash.
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Transcript of Purchased merchandise for cash. Debit Purchases Credit Cash.
Purchased merchandise from Accounts Payable-Bob Bennet
Debit Purchases
Credit
Acct. Pay. &
Bob Bennet
Paid cash on account to Bob Bennett less purchase discount
Debit
Acct. Pay. and Bob Bennett
Credit
Cash
Purchase Discount
Returned merchandise on account to Bob Bennett
Debit
Acct. Pay. and Bob Bennett
Credit
Purchases Returns & Allowances
Sold merchandise on account to Ann Adams plus tax
Debit
Acct. Rec. &
Ann Adams
Credit
Sales
Sales Tax Payable
Received cash on account from Accounts Receivable-Gina
Gates; no discount
Debit
Cash
Credit
Acct. Rec. & Gina Gates
Received cash from Ann Adams less sales discount
Debit Cash
Sales Discount
Credit
Acct. Rec. and Ann Adams
Granted credit to Ann Adams for merchandise returned plus tax
Debit
Sales Ret. & Allow.
Sales Tax Payable
Credit
Credit
Acct. Rec. and Ann Adams
Paid cash to replenish petty cash: supplies, advertising expense,
cash is short.
Debit
Supplies
Advertising Exp.
Cash Short and Over
Credit
Cash