Week 3 15 Purchased 13 sets of Sting Ray Golf Clubs from Sport Borders for $376
ID: 2521803 • Letter: W
Question
Week 3
15
Purchased 13 sets of Sting Ray Golf Clubs from Sport Borders for $376 each, terms net 30.
17
Purchased 11 Specialist Tennis Raquets from Hike for $280 each, terms 2/10, n/30.
17
Sold 3 Quidditch Snitches to Jump Around for $752 each, Invoice No. 384.
18
Paid sales staff wages of $1,530 for the week up to and including yesterday, Check No. 877.
19
Received a purchase order from Balls 'n All. Created a corresponding sales order to deliver 40 Quidditch Snitches to this customer for $752 each, Invoice No. 386.
20
Balls 'n All paid $3,700 in partial payment of their account.
20
Made cash sale of 24 MJO Basketball Sets for a list price of $576 each. A trade discount of 25% applies.
20
The Locker Room returned 8 pairs of Football Boots that were originally sold for $336 each on 11 June. These items cost $192 each and were not faulty or damaged. Issued a Credit Memorandum for $2,688.
GENERAL JOURNAL
Date
Account and Explanation
Post
Ref.
Debit
Credit
Jun
(select)
(select)
Jun
(select)
(select)
Jun
(select)
(select)
Week 3
15
Purchased 13 sets of Sting Ray Golf Clubs from Sport Borders for $376 each, terms net 30.
17
Purchased 11 Specialist Tennis Raquets from Hike for $280 each, terms 2/10, n/30.
17
Sold 3 Quidditch Snitches to Jump Around for $752 each, Invoice No. 384.
18
Paid sales staff wages of $1,530 for the week up to and including yesterday, Check No. 877.
19
Received a purchase order from Balls 'n All. Created a corresponding sales order to deliver 40 Quidditch Snitches to this customer for $752 each, Invoice No. 386.
20
Balls 'n All paid $3,700 in partial payment of their account.
20
Made cash sale of 24 MJO Basketball Sets for a list price of $576 each. A trade discount of 25% applies.
20
The Locker Room returned 8 pairs of Football Boots that were originally sold for $336 each on 11 June. These items cost $192 each and were not faulty or damaged. Issued a Credit Memorandum for $2,688.
Explanation / Answer
Note:
line number 19. I am not able to get a clear view as to if the sale is done or not as it says that only sales order is created. But since invoice Number is mentioned I am giving the entry below if required.
Debit Credit 1 Purchases 4888 Sport Borders 4888 2 Purchases 3080 Hike 3080 3 Jump Around 2256 To sales 2256 4 Wages 1530 To cash 1530 5 Cash 3700 Balls 'n All 3700 6 Cash 432.00 To Sales 432.00 7 Sales Return 2688 The Locker Room 2688Related Questions
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