Chapter 6: Credit Sales and Credit Purchases Journals 113 Nuts had the following

Question

Chapter 6: Credit Sales and Credit Purchases Journals 113 Nuts had the following creditors as at 1 April 2005: Exercise 6.4: Nicholson's en Wholesale Nuts $1 400 and Melbourne Health Foods $580. Northern are recorded as part of the normal general ledger. The following sactions affectin firm's creditors The details of the information relates to the tran g the firm's creditors during April: Received Inv. 4194 from Northern Wholesale Nuts for $800 5 Paid Melbourne Health Foods $200 on account 9 Purchased stock on credit from Northern Wholesale Nuts for $540 (nv. 4203) Apr 3 Received Inv Received delivery of a variety of nuts from Mel 9 Paid Melbourne Health Foods $380 22 Purchased nuts from Northern Wholesale Nuts on credit for $440 (Inv.4267) 23 Paid Northern Wholsale Nuts $1 000 on account bourne Health Foods (Inv 105): total cost $130 on account the credit purchases journal for Nicholson's Nuts for the month of April 2005. a Prepare b Prepare re the stock control account and the individual creditors accounts as they would sh payments data from the appear in the general ledger of Nicholson's Nuts (including the ca April transactions).

Explanation / Answer

a) Credit purchase journal :

b) General Ledger Accounts :

Inventory Control Account :

Northern Wholesale Nuts Account :

Melbourne Health Foods Account :

Date Purchase party type of purchase Invoice no. Purchase amount Total purchase Apr 3 Northern Wholesale Nuts credit 4194 $800 $800 Apr 9 Northern Wholesale Nuts credit 4203 $540 $1340 Melbourne Health Foods credit 105 $130 $1470 Apr 22 Northern Wholesale Nuts credit 4267 $440 $1910 Total purchases during April $1910

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