The following transactions occurred for Donaldson Inc. during the month of July. Jul. 1 Sold 50 items to Palm Springs Inc. and offered terms of 2/10, n/30, $6,500 on July 1, and issued invoice #12 on account #312. Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,650 cash on July 5, and issued invoice #13. Jul. 8 Sold 30 what-is to Smith Mfg. for $8,000 and offered terms of 2/10, n/30; issued invoice #14 on account #178. Jul. 9 Received payment from Palm Springs Inc. Jul. 22 Received payment from Smith Mfg. after expiration of the discount period. Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger. If an amount box does not require an entry, leave it blank.
The following transactions occurred for Donaldson Inc. during the month of July. Jul. 1 Sold 50 items to Palm Springs Inc. and offered terms of 2/10, n/30, $6,500 on July 1, and issued invoice #12 on account #312. Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,650 cash on July 5, and issued invoice #13. Jul. 8 Sold 30 what-is to Smith Mfg. for $8,000 and offered terms of 2/10, n/30; issued invoice #14 on account #178. Jul. 9 Received payment from Palm Springs Inc. Jul. 22 Received payment from Smith Mfg. after expiration of the discount period. Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger. If an amount box does not require an entry, leave it blank.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter18: Acquiring Capital For Growth And Development
Section: Chapter Questions
Problem 2AP
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The following transactions occurred for Donaldson Inc. during the month of July.
Jul. 1 Sold 50 items to Palm Springs Inc. and offered terms of 2/10, n/30, $6,500 on July 1, and issued invoice #12 on account #312. Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,650 cash on July 5, and issued invoice #13. Jul. 8 Sold 30 what-is to Smith Mfg. for $8,000 and offered terms of 2/10, n/30; issued invoice #14 on account #178. Jul. 9 Received payment from Palm Springs Inc. Jul. 22 Received payment from Smith Mfg. after expiration of the discount period. Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger. If an amount box does not require an entry, leave it blank.
SALES JOURNAL Page: 22 Date Account Invoice
No.Ref. DR Accts.
Receivable
CR SalesDR COGS
CR Merchandise
Inventory2019 Jul. 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 fill in the blank 5 Jul. 8 fill in the blank 7 fill in the blank 8 fill in the blank 9 fill in the blank 10
CASH RECEIPTS JOURNAL Page: 24 Date Account Invoice
No.Ref. Cash
DRSales
Discounts
DRAccounts
Receivable,
Sales, or other
accounts CR2019 Jul. 5 fill in the blank 12 fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Jul. 9 fill in the blank 18 fill in the blank 19 fill in the blank 20 fill in the blank 21 fill in the blank 22 Jul. 22 fill in the blank 24 fill in the blank 25 fill in the blank 26 fill in the blank 27 fill in the blank 28
Accounts Receivable Subsidiary Ledger Account: Palm Springs Inc. Account #312 DATE ITEM POST. REF. TRANSACTION BALANCE DEBIT CREDIT DEBIT 2019 Beginning Balance Jul. 1 Sale fill in the blank 30 fill in the blank 31 fill in the blank 32 Jul. 9 Payment fill in the blank 34 fill in the blank 35 fill in the blank 36
Account: Smith Mfg. Account #178 DATE ITEM POST. REF. TRANSACTION BALANCE DEBIT CREDIT DEBIT 2019 Beginning Balance Jul. 8 Sale fill in the blank 38 fill in the blank 39 fill in the blank 40 Jul. 22 Payment fill in the blank 42 fill in the blank 43 fill in the blank 44
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