The Emery Co. uses a voucher register, a cheque register and a petty cash book.

Question

The Emery Co. uses a voucher register, a cheque register and a petty cash book. Record in general journal form, the following selected transactions for the month of June, providing an adequate explanation that includes the special register, journal, or book that normally would be used. June 3 Sent a 30-day 10% note payable to Ace Co for $1600.00 in settlement of invoice #541 June 5 Prepared a voucher payable to Mason Knowles to establish a petty cash fund of $75.00. Prepared voucher #245 June 6 Prepared a check in payment of voucher #245 dated June 5 June 8 Purchased merchandise from the Adams family for $900.00 Terms: 2/15, n/30. Prepared voucher #246 June 11 Purchased office equipment from the Wealth Office Co. for $2400.00. Terms n/30 June 15 Prepared petty cash voucher #101 for $12.35 in payment of transportation charges on goods purchased June 17 Received a credit memo from Mason Co. for $65.00 as evidence of our return of merchandise purchased on June 8 June 18 Paid voucher #246 less the return of June 17 according to the terms of June 8 June 22 Prepared petty cash voucher #102 for $22.35 in payment of various office supplies obtained today June 25 Issued voucher in payment of note due today that was dated June 3. Sent check in payment of voucher. June 27 Prepared a voucher and issued a check to reimburse the petty cash fund

Explanation / Answer

Journal Entries Date Particulars Debit Credit Jun-03 Account payable 1600 Note payable 1600 Jun-05 Petty cash 75 Mason Payable 75 Jun-06 Mason Payable 75 Cash 75 Jun-08 Merchandise 900 Account payable 900 Jun-11 Office Equipment 2400 Account payable 2400 Jun-15 Transportation charges 12.35 Petty cash 12.35 Jun-17 Account payable 65 Merchandise 65 Jun-18 Account payable 835 Cash 818.3 Discount 16.7 Jun-22 Office supplies 22.35 Petty cash 22.35 Jun-25 Note payable 1600 Interest expense 9.64 Cash 1609.64 Jun-27 Petty cash 34.7 Cash 34.7

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