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Weygandt, Accounting Principles, 12e OURCESExercise Hawk Cempeny uses a single-c

ID: 2556808 • Letter: W

Question

Weygandt, Accounting Principles, 12e OURCESExercise Hawk Cempeny uses a single-colume purchases yournal, a cash payments youmal, and a general journal to recond transactions with its suppliers and others Oct. 5 Purchased merchandise on account for $19,000 from Harreison Company,Terma: 2/10, n/3o; FOB shipping poine oct. & Paid 95,600 to en's Insurance Company for a two-year fire insurance policy Oct.? Purhesed stero supples on account for tsoo-om Stone Supply Company, 2rao, nao. Oct. 11 Parchased menchandise on account for $15,000 from Steve Corporation. Tem:2/10, n/30; FO shipping point O 13 Gated a ebuction of $3,000 from steve Corporation for merchandse purchased on October 11 and neturned because of damage. Oct. 15 Paid Harrelson Campany for merthandise purchesed on October 5,less discount Oct. 16 Pvhesed merchandisn ror s9.000 cash from wisarms Company. Oct. 21 Paid Steve Corporation for merchandise purchased on Octeber 11, less menthendise returned an October 13,less discount Oct. 2S Purchased merchandue on account for ?21,000 from Ozzle Camoany. Terms: 2/10, nr30: F08 shipping pone Oct. 3t Purchased equipment for $27,000 cash from Guilen Office Supply Company Recond the above transactions in the appropane yumals(Record entries in the onder displayed in the probiem statement Ref. Acceunts Payable (Credit account titles are automsatically indented when amount is entered. De not indent manually. Record journal entries in the ander presented in the problem.j D Type here to search b/n Home 2 4 6 W E

Explanation / Answer

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1. Purchse Journal Inventory Debit Date Amount Credited Ref Account Payable Credit Oct 5 Harrison Company 19000 Oct 11 Steve Corportion 15000 Oct 25 Ozzole 21000 2. General Journal Date Account Title Debit Credit Oct 8 Store Supplies 600 Pony Store 600 Oct 13 Accounts Payable-Steve 3000 Inventory 3000 3 Cash Payment Journal Date Account Debited Ref Other Account dr Accounts Payable dr Inventory cr Cash Cr Oct 6 Prepaid Insurance 6000 6000 Oct 15 Harrison Company 19000 380 18620 Oct 16 Inventory 9000 9000 Oct 21 Steve Corp 12000 240 11760 Oct 31 Office Equipment 27000 27000
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