Purchases and Cash Payments

Topics: Accounts receivable, Invoice, Accounts payable Pages: 28 (539 words) Published: December 4, 2013
Problem #1 - Purchases and Cash Payments
PURCHASES JOURNAL
Invoice
From Whom
Date
No.
Purchased
Oct
1
1235 Belk Suppliers
Oct
7
7438 Greene, Inc
Oct
12
5139 Harris Co.

Date
Oct
Oct
Oct
Oct
Oct

1
5
11
22
27

Check
No.
142
143
144
145
146

Hollie Creech
Post
Ref.




Purchases Dr Freight In
Debit
Debit
4,552.00
2,658.00
3,877.00
11,087.00
(501)

CASH PAYMENTS JOURNAL
Account Debited
Post.
General
Ref.
Debit
Rent Expense

1,235.00

Acct Pay
Debit

Belk Suppliers
Greene Inc.
Harris Co.




4,552.00
2,158.00
3,877.00
10,587.00
(202)

GENERAL JOURNAL

Oct

Oct

10

17

Purchases
Debit

Purch Disc
Credit

1,995.00

1,235.00
(√)

Date

Page 3
Acct Pay
Credit
4,552.00
2,658.00
3,877.00
11,087.00
(202)

Description
Accounts Payable
Purchases Returns & Allowances
Office Supplies
Accounts Payable/Doyle Co.

1,995.00
(501)
Page 1

Post
Ref
202
502
142
202

Debit
500.00

Credit
500.00

550.00
550.00

91.04
21.58
116.31
228.93
(503)

page 4
Cash
Credit
1,235.00
1,995.00
4,460.96
2,136.42
3,760.69
13,588.07
(101)

GENERAL LEDGER
CASH

Acct no.
Date

Oct.
Oct.

Item
1 Balance
31

Post
Ref.
x
CP4

Balance
Debit

Credit
13,588.07

OFFICE SUPPLIES
Date
Oct

17

Post
Ref.
J1

Debit
550.00

Credit

Item

Post
Ref.
J1
J1
P3
CP4

Debit
550.00

Credit

202
Balance

Debit
500.00

Credit

Debit
500.00

550.00
11,087.00

Credit
50.00
11,137.00
550.00

10,587.00

PURCHASES

Acct no.

Date

Item
31
31

Post
Ref.
P3
CP4

Debit
11,087.00
1,995.00

Credit

PURCHASES RETURNS & ALLOWANCES
Date
Oct

142

Acct no.

10
17
31
31

Oct
Oct

Credit

Balance

ACCOUNTS PAYABLE

Oct
Oct
Oct
Oct

Debit
20,000.00
6,411.93

Acct no.
Item

Date

101

Item
10

501

Balance
Debit
Credit
11,087.00
1,995.00
Acct no.

Post
Ref.
J1

502
Balance

Debit

Credit
500.00

Debit

Credit
500.00

PURCHASES DISCOUNTS
Date
Oct

Acct no.
Item

31

Post
Ref.
CP4

Balance
Debit

Credit
228.93

FREIGHT-IN

Debit

Credit
228.93

Acct no.

Date

Item

Post
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