Question

Scenario

On February 2^nd, GBI purchased $800 of supplies for the marketing department (Cost Center Number is NAMK1000) to use in a trade show. Payment for the purchase was made on February 4^th.  

Your task

Enter the appropriate journal entries in the GBI ERP system to reflect the scenario described above. You will need two entries, one for the purchase and one for the payment. At the time of the purchase, the expense is recorded in the supplies expense account (740000) and the obligation is recorded in the Payables-Misc. account (300200). Payment for the full amount is made from the bank account (100000).

Record the resulting document numbers in the text field below:

FI document number 1: __________

FI document number 2: __________

Answer 1

Document Number	Date	Account Code	Particulars	Debit ($)	Credit ($)
100001	02-Feb	740000	supplies expense account …….Dr	800
		300200	to Payables-Misc. account		800
			(Being purchase of supplies for the marketing department on credit)
100002	04-Feb	300200	Payables-Misc. account ………..Dr	800
		100000	to bank account		800
			(Being purchase of supplies made on credit earlier, now paid in full)

FI document number 1: 100001

FI document number 2: 100002