During the month of October 20-, The Pink Petal flower shop engaged in following

Question

During the month of October 20-, The Pink Petal flower shop engaged in following transactions: eivable Cr Sold merchandise on account to Elizabeth Shoemaker, $1,000, plus tax of Oct. 1 $50. Sale No. 222 2 Issued Check No. 190 to Jill Hand in payment of October 1 balance of less 2% discount. 2 Purchased merchandise on account from Flower Wholesalers, $4,000. $500, Invoice No. 500, dated October 2, terms 2/10, n/30. 4 Purchased merchandise on account from Seidl Enterprises, $700. Invoice No. 527, dated October 4, terms 2/15, n/30. 5 Issued Check No. 191 in payment of phone expense for the month of September, $150. 7 Sold merchandise for cash, $3,500, plus tax of $175. 9 Received payment from Leigh Summers in full settlement of account, $2,000. 11 Issued Check No. 192 to Flower Wholesalers in payment of October 1 bal- ance of $1,500. 12 Sold merchandise on account to Leigh Summers, $2,000, plus tax of $100. Sale No. 223. 12 Received payment from Meg Johnson on account, $3,100. 13 Issued Check No. 193 to Seidl Enterprises in payment of October 4 purchase. Invoice No. 527, less 2% discount. 14 Meg Johnson returned merchandise for a credit, $300, plus sales tax of $15. 17 Returned merchandise to Vases Etc. for credit, $900. 24 Received payment from David's Decorating on account, $2,135 27 Sold merchandise on account to David's Decorating, $3,000,plus tax of $150. Sale No. 224. 29 Issued Check No. 194 in payment of wages (Wages Exp week period ending October 30, $900 Selected account balances as of October 1 were as follows: Account Cash Accounts Receivable Accounts Payable Credit Account No. 101 122 202 Debit $18,225 9,619 $5,120 The Pink Petal also had the following subsidiary ledger balanc Accounts Receivable: Customer David's Decorating 12 Jude Lane Hartford, CT 06117 lances as of October 1: Accounts Receivable Balance $3,340

Explanation / Answer

Cash Receipts Journal Date Account Cash Dr Cash Accounts Sales Cr Sales Tax Other Cost of goods SALES JOURNAL Credited Discount Dr Receivable Cr Payable Account Cr sold Dr Date Account Invoice Accounts Sales tax Cost of goods Cr Inventory Cr Debited Number Receivable Dr Sales Cr Payable Sold Dr Oct.7 Sales 3675 3500 175 Dr. Inventory Cr Oct.9 Leigh Summers 2000 2000 Oct.1 Elizabeth Shoemaker 222 1050 1000 50 Oct.24 Davids Decorating 2135 2135 Oct.12 Leigh Summers 223 2100 2000 100 Oct.27 David's Decorating 224 3150 3000 150 PURCHASE JOURNAL Cash Disbursement Journal Journal Date Account Date of Terms Accounts Inventory Office Other Date Ck No. Payee Account Cash Cr Inventory Other Accounts Invoice Payable Cr Dr Supplies Dr Accounts Dr Debited Cr Accounts Dr Payable Oct.2 Flower Wholesalers Oct.2 2/10 n/30 4000 4000 Dr Oct.4 Seidl Enterprises Oct.4 2/15 n/30 700 700 Oct.2 190 Jil Hand Jil Hand 490 10 500 Oct.5 191 Accrued expenses 150 150 Oct.11 192 Flower wholesalers Flower wholesalers 1500 1500 Oct.13 193 Seidl Enterprises Seidl Enterprises 686 14 700 General Journal Date Account Debit Credit Oct.14 Sales returnsand allowances 300 Sales tax payable 15 Accounts Receivable 315 Oct.17 Accounts payable 900 Inventory 900 Cash Inventory Accounts receivable Date Debit Credit Balance Date Debit Credit Balance Date Debit Credit Balance Beg.Bal. 18225 18225 Oct.2 10 -10 Beg.Bal. 9619 9619 Oct.2 490 17735 Oct.2 4000 3990 Oct.1 1050 10669 Oct.7 3675 21410 Oct.4 700 4690 Oct.9 2000 8669 Oct.9 2000 23410 Oct.13 14 4676 Oct.12 2100 10769 Oct.11 1500 21910 Oct.17 900 3776 Oct.14 315 10454 Oct.13 786 21124 3776 Oct.27 3150 13604 Oct.24 2135 23259 13604 23259 Accrued expenses Date Debit Credit Balance Accounts payable Oct.5 150 150 Sales tax payable Date Debit Credit Balance 150 Date Debit Credit Balance Beg.Bal. 0 5120 5120 Oct.1 50 50 Oct.2 500 4620 Oct.7 175 225 Oct.2 4000 8620 Wages expense Oct.12 100 325 Oct.4 700 9320 Date Debit Credit Balance Oct.14 15 310 Oct.11 1500 7820 Oct.30 900 900 Oct.27 150 460 Oct.13 700 7120 900 7120 900 Leigh Summers Date Debit Credit Balance Sales Elizabeth Shoemaker Beg.Bal. 2000 0 2000 Date Debit Credit Balance Date Debit Credit Balance Oct.9 2000 0 Oct.1 1000 1000 Beg.Bal. 279 279 Oct.12 2100 2100 Oct.7 3500 4500 Oct.2 1050 1329 2100 Oct.12 2000 6500 1329 Oct.27 3000 9500 Jil Hand 9500 Date Debit Credit Balance Beg.Bal. 0 500 500 Meg Johnson David's Decorating Oct.2 500 0 Date Debit Credit Balance Date Debit Credit Balance 0 Beg.Bal. 4000 4000 Beg.Bal. 3340 3340 0 Oct.14 315 3685 Oct.24 2135 1205 1205 Flowe Wholesalers 1205 Vases Etc Date Debit Credit Balance Date Debit Credit Balance Beg.Bal. 1500 1500 Seidl Enterprises Beg.Bal. 3120 3120 Oct.2 4000 5500 Date Debit Credit Balance Oct.17 900 2220 Oct.11 1500 4000 Oct.4 700 700 2220 4000 Oct.13 700 0 2220 0 0

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