xGovenment will Cancel De Information About Debt Re+ v connect newconnect.mheduc
ID: 2411907 • Letter: X
Question
xGovenment will Cancel De Information About Debt Re+ v connect newconnect.mheducation.com Help Save &Exit; ment Big Country Ski Shop is a retail store that sells ski equipment and clothing Big Country Ski Shop commenced business on Septembe payments on account during September 2019 follow firm purchases merchandise on open account The firm's purchases, purchase returns and allowances, and cash 2019 Sept. 2 Purchased ski boots for $5,280 plus a freight charge of $258 from Colorado Ski Shop, Invoice 6672, terms n/30 3 Purchased skis for $10,808 fron Alaska Supply Company, Invoice 5916; terms 2/10, n/30, 7 Received Credit Menorandum 165 for $860 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672 11 Purchased ski jackets for $3,600 from Cold Mountain Clothing Company, Invoice 4091, terms n/3 12 Issued Check 104 to Alaska Supply Company in payment of Invoice 5916, dated September 3, less the cash discount 22 Purchased ski poles for $3,360 plus a freight charge of $190 from Alaska Supply Company, Invoice 5950, terms 3/18, n/30, 23 Purchased ski pants for $1,850 fron Swenson Ski Goods, Invol 25 Received Credit Memorandum 245 for $260 from Swenson Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoic 6722, terms n/30 return of September 7. 27 Purchased ski sweaters for $4,000 plus a freight charge of $170 fron Coiorado Ski Shop, I nvoice 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the @??
Explanation / Answer
General Ledger
Accounts Payable Ldeger
3.
4.
49% of the purchases are for clothing items. ($14,650 of $28,810)
Cash Account No.101 Date Debit Credit Balance Beg.Bal. 25000 Sept.12 10584 14416 Sept.30 4590 9826 Accounts Payable Account No.201 Date Debit Credit Balance Sept.30 16510 29420 12910 Purchases Account No.501 Date Debit Credit Balance Sept.2 5200 5200 Sept.3 10800 16000 Sept.11 3600 19600 Sept.22 3360 22960 Sept.23 1850 24810 Sept.27 4000 28810 Freight in Account No.502 Date Debit Credit Balance Sept.2 250 250 Sept.22 190 440 Sept.27 170 610 Purchases Returns and Allowances Account No.503 Date Debit Credit Balance Sept.7 860 860 Sept.25 260 1120 Purchase Discounts Account No.504 Date Debit Credit Balance Sept.12 216 216Related Questions
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