Recording Purchases and Cash Payment Transactions. Cycle Tech had the following
ID: 2401528 • Letter: R
Question
Recording Purchases and Cash Payment Transactions.
Cycle Tech had the following purchases and cash payment transactions for the month of March:
Instruction:
Prepare the following reports: Purchases Journal and Cash Disbursements Journal
Cash Disbursements Journal
Date
Description
Document #
Post. Ref.
General Debit
Cash Credit
Purchases Journal
Date
Description
Document #
Post. Ref.
Purchases Debit
Accounts Payable Credit
Cash Disbursements Journal
Date
Description
Document #
Post. Ref.
General Debit
Cash Credit
Explanation / Answer
Journal Enteries 1-Mar Purchase $8,200 To Donald $8,200 5-Mar Freight Charges A/c $98 To Cash $98 7-Mar Supplies $230 To Win supply $230 9-Mar Insurance Premium $2,500 To Cash $2,500 11-Mar Donald $8,036 To Cash $8,036 15-Mar Purchase $6,200 To MFK Wholesales $6,200 18-Mar Win Supply $25 To Supplies return $25 21-Mar Win supply $205 To cash $205 25-Mar MFK Wholesalers $6,200 To Purchase return $6,200 Cash Disbursements Journal Date Description Document # Post. Ref. General Debit Cash Credit 5-Mar Freight Charges Check 887 98 98 9-Mar Insurance Premium Check 88 2500 2500 11-Mar Payment to Donald for goods purchased Check 889 Invoice No TC202 8036 8036 21-Mar Payment to Win supply for Supplies Check 890 Invoice No SM101 205 205 10839 10839 Purchases Journal Date Description Document # Post. Ref. Purchases Debit Accounts Payable Credit 1-Mar Purchase of Goods from Donald Invoice No TC202 8200 8200 15-Mar Purchase of Goods from MFK Wholesales Invoice No 45332 6200 6200 14400 14400
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