You are the controller at Star Wars, Inc. you must Create Journal Entries for th

Question

You are the controller at Star Wars, Inc. you must Create Journal Entries for the following transactions:

1. On December 1, Star Wars, Inc. paid off a blance of 45,800 owed to Ewok Inc. No discount applies

2. On December 2, Star Wars, Inc. Received a check in the amount of $23,569 from Jango Fett Inc. In full payment of an invoice dated November 27 in the amount of $24,050..

3. On December 3, Star Wars, Inc. Sold 200 units to Vader enterprises on account for $805 each.

4.On December 6, Star Wars, Inc. purchaed 500 units from Calrisian's Components on accout for $360 each, terms net/45.

5. On December 7, Star Wars, Inc. received a check in the amount of $45,000 from R2D2 Computers in partial payment of the balance they owe (no discounts apply) form a Nov. 15 sale of $95,900

Explanation / Answer

Date Particulars Debit Credit 01-Dec Accounts payable                  45,800.00 Cash            45,800.00 02-Dec Cash                  23,569.00 Discount                  481.00 Accounts receivables            24,050.00 03-Dec Accounts receivables          1,61,000.00 Sales      1,61,000.00 06-Dec Inventory              1,80,000.00 Accounts payable      1,80,000.00 05-Dec Cash             45,000.00 Accounts receivables         45,000.00

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