Question : 133. The Woodview Company uses a sales journal, purchases journal, cash : 1256302

 

133. The Woodview Company uses a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. They use the periodic inventory method. The following transactions occurred during the month of December: 

Dec.

4

Sold merchandise on credit for $3,300 to the A&B Co., invoice no. 313.

 

8

Purchased merchandise on credit for $1,800 from the Dexter Co., terms 2/10, n/30. Invoice dated December 8.

 

10

Sold merchandise for $500 cash to RAC Corp., invoice 314.

 

13

Collected $3,300 from the A&B Co. for merchandise sold on December 4.

 

17

Paid amount owed to Dexter Co. from December 8 purchase, check no. 1011.

 

24

Sold merchandise on credit for $4,500 to Dunn Corp., invoice no. 315.

 

27

Paid $400 cash for monthly rent to Dayton Properties, check no. 1012.

 

31

Purchased equipment for $3,055 from Fort Corp., check no. 1013.

 Record the above transactions using the journals below.

Sales Journal                                                                                                                                             Page 15

 

Date

Account Debited

 

Invoice Number

 

PR

 

Accounts Receivable Dr. Sales Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases Journal                                                                                                                                   Page 20

 

 

Date

 

 

Account

 

Date of Invoice

 

 

Terms

 

 

PR

 

Accounts Payable Cr.

 

Purchases Dr.

Office Supplies Dr.

Other Accounts Dr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Receipts Journal                                                                                                                   Page 17

 

 

 

Date

 

 

Account Credited

 

 

 

Explanation

 

 

 

PR

 

 

Cash Dr.

 

Sales Discount Dr.

 

Accounts Receivable Cr.

 

 

Sales Cr.

 

 

Other Accounts Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Disbursements Journal

 

 

Date

 

Ck. No.

 

 

Payee

 

Account Debited

 

 

PR

 

Cash Cr.

Purchase Discounts Cr.

Other Accounts Dr.

Accounts Payable Dr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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