W PRINTER VERSEON BACK Exercise 122 Hawk Company uses a single-column purchases
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W PRINTER VERSEON BACK Exercise 122 Hawk Company uses a single-column purchases journal, a cash payments journal, and a general journal to record transactions with its suppliers and others. Oct. 5 Purchased merchandise on account for $19,000 from Harrelson Company. Terms: 2/10, n/30; FOB shipping point Oct. 6 Paid $6,600 to Ken's Insurance Company for a two-year fire insurance policy Oct 8 Purchased store supplies on account for $600 from Stone Pony Supply Company. Terms: 2/10, n/30. Oct. 11 Purchased merchandise on account for $15,000 from Steve Corporation. Terms: 2/10, n/30; FOB shipping point Oct. 13 Granted a reduction of $3,000 from Steve Corporation for merchandise purchased on October 11 and returned because of damage Oct. 15 Paid Harrelson Company for merchandise purchased on October 5, less discount Oct. 16 Purchased merchandise for $9,000 cash from Williams Company. Oct. 21 Paid Steve Corporation for merchandise purchased on October 11, less merchandise returned on October 13, less Oct. 25 Purchased merchandise on account for $21,000 from Ozzle Company. Terms: 2/10, n/30; FOB shipping point. Oct. 31 Purchased equipment for $27,000 cash from Guillen Office Supply Company its by Study Record the above transactions in the appropriate jounals. (Record entries in the order displayed in the problem HAWK cOMPANY Purchases Journal Inventory De. Date Account Credited ed when amount is entered. Do pnot indent man (Credit account titles are automatically indent journal entries in the order presented in the problem) Account Titles and Explanation MPANY Cash Payments Inventory Cr- Cash Cr. Ref. Other Accounts Payable Dr. O Type here to search Prt F6 F4 FS F3 F2Explanation / Answer
Date Particulars Dr Cr Oct-05 Marchandise 19000 Herrelson Company (Accounts Payable) 19000 ( Marchandise Purchased) Oct-06 Insurance 3300 Prepaid Insurance 3300 Bank 6600 ( two year fire insurance paid to Ken Insurance Company) Oct-08 Store Supplies Expense 600 Stone ponny Supply Company (Accounts Payable) 600 ( Store supplies purchase) Oct-11 Marchandise 15000 Steve Corporation (Accounts Payable) 15000 ( Marchandise Purchased) Oct-13 Steve Corporation (Accounts Payable) 3000 Marchandise 3000 ( Damange marchandise returned & reductio grant received) Oct-15 Herrelson Company (Accounts Payable) 19000 Purchase Discount 380 Bank & Cash 18620 ( Paid Herelson company with 2% discount as paid with in 10 days) Oct-16 Marchandise 9000 Bank & Cash 9000 ( Marchandise Purchased in cash from Williams Company) Oct-21 Steve Corporation (Accounts Payable) 12000 Purchase Discount 240 Bank & Cash 11760 ( Paid Steve Corporation less returns with 2% discount as paid with in 10 days) Oct-25 Marchandise 21000 Ozzle Comany (Accounts Payable) 21000 ( Marchandise Purchased) Oct-21 Office Supplies 27000 Bank & Cash 27000 (Equipment purchase from Gullen Office Supply Company)
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