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Accounting Final 2

QuestionAnswer
Purchases Journal - Purchases Debit, Acct. Pay Credit Purchased merchandise on account from Crown Distributing, $2,039.00. Purchase Invoice No. 83
Cash Payments Journal - General Debit (Advertising Expense), Cash Credit Paid cash for advertising, $150. Check No. 292
Cash Payments Journal - General Debit (Supplies-Office), Cash Credit. Paid cash for office supplies, $94.0. Check No. 293.
Cash Payments Journal - General Debit (Purchases), Cash Credit Purchased Merchandise for cash, $600.00. Check No. 301
Cash Payments Journal - Account Payable Debit (498), Purchases discount Credit (9.96), Cash Credit (488.04) Paid cash on account to Gulf Craft Supply, $488.04, covering Purchase Invoice No 82 for $498.00, less 2% discount, $9.96. Check No. 302
Cash Payments Journal - Accounts Payable Debit, Cash Credit Paid Cash on account to American Paint, $2,650, covering Purch. Invoice No 77. Check No. 303
Cash payments journal - General Debits: Supplies-Office (32.33), Advertising Expense (50), Misc. Expense (128.50); General Credit : Cash Short and Over (2.17); Cash Credit (208.66) Paid cash to replensih the petty cash fund, $208.66: office supplies, $32.33; advertising, $50; misc., $128.50; cash over, Over by $2.17. Check No. 310
General Journal - Debit: Supplies Store; Credit: Acct Pay/Gulf Craft Supply (/ in Post Ref) Bought store supplies on account from Gulf Craft Supply, $210. Memo. No 52
General Journal - Debit: Acct Pay/Crown Distributing (/ in Post Ref); Credit: Purchases Returns and Allow. Returned merchandise to Crown Distributing, $252, covering Purchase Invoice No. 80. Debit Memo No. 78
Sales Journal - Acct Rec Debit (572.40), Sales Credit (540), Sales Tax Payable Credit (32.40) Sold Merchandise on account to Village Crafts, $540, plus sales tax. $32.40; total, $572.40. Sales Invoice No. 76
Cash Receipts Journal- (Check Mark Account Title & Post Ref). Sales Credit (5460); Sales Tax Payable Credit (327.60); Cash Debit (5787.60) Recorded Cash and credit card sales, $5,460, plus sales tax, $327.60; total, $5,787.60. Term. Summary 32.
Cash Receipts Journal - Accounts Rec Credit; Cash Debit Received cash on account from Country Crafters, $2,162.40, covering S69. Receipt. No. 90
Cash Receipts Journal - Acct Rec Credit (1200); Sales Discount Debit (24); Cash Debit (1176) Received cash on account from Cumberland Center, $1,176, covering Sales invoice No. 74 for $1,200 less 2% discount, $24. Receipt No. 91
General Journal - Debit: Sales Returns and Allow. (58.50) and Sales Tax Payable (3.51); Credit: Acct. Rec/Village Craft (62.01) (/ in Post Ref) Granted credit to Village Crafts for merchandise returned, $58.50, plus sales tax, $3.51, from S160; total, $62.01. Credit Memo No. 41
 

 



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