Question

The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers. Also note that the company uses a clearing house to take care of all bank as well as non-bank credit cards used by its customers. 

Answer 1

Solution Post Debit/Credit 'ref Les (6) 1122/18,90o| 18900 410 510 13,300 130 113,300 3 Date Description 1/2 Man Accoune receivable. Exco Sales To recored mercianise sold to Ex (6) 2. 2 Mar Cost of merchandise sold Merchandise investory To record the cost of merchnadise Sold). 513Mool cash Sales Sales ton payable (11,350x61) To record merchandise sold o retail customer 14.13 Mer Cost of merchandise sold merchandise inventory 110 12,031 | 410 11 350 681 218 151070ool 1130 7000 55400 1121 410 155,400 15/4 Mart Accounts receivable Exco Sales (To récored Exco) mercianise sold to Slo 33200 1130 33200 6.4 Meur Cost of merchandise sold merchandise inventory To record the cost of merchan- dise Sold)

Y 5Mcs 110 31800 410 Brool 218 Cash Sculos sales tan payable ( 30,000 67.) To record merchandise sold o retail Customer 11700 1510 19,400 130 19,400 BS Mar cost of merchandis sold merchandise inventory To record the cost of merchsn- dis sold) 9/12 May cash Accounts receivable Exco To record check received) 110 18900 410 18900 1014 Mart 110 13700 Cash Sales To record merchsnelis 410 13700 sold) sold 8500 510 1130 11.114 May Cost of merchandis Merchandis invertory ( (To record the cos of merchar- dise sold). 8500 27500 123 1410 27500 /12/16mal Accounts receivable T ca Sales To record the merchandise Sold to Tod 113 16mar Cost of merchandise sold Merchandise inventory (To record the cost of merch- sold). 510 16,000 1130 16ooo analise

114 Amar Sales & eturns 14800 Accounts receivable Toco 123 4800 4800 To record issue of credit memo) 115/isman Merchandise inventory 130 2900 cost of goods sold bio legoul To record the cost of merchandise returned) Post Desait Kredit ($) C$) Aavo Salle Description ! | 19 Mar Accounts receivable.vco Sales ICTo record mar merchandise sold) 124 410 8250 8250 15oool 15000 75 1124 130 2 egrar cost of merchandise sold 510 merchandise inventory 130 To record the cost of merchandise) Bligmay Accounts receivable u.co Cash , To record the freight cost paid and Ho be Collected from VEO) 4.26 may cash (27,500-4800 llo | Accounts receivable T.co 123 To record the check received from 75 22700 22700 110 15. /28mar Cash sales discount (21.4 8,250) Accounts receivable Ticos kio récord chock received from $T:00) 18160 165 8325 124

110 55400 121 HOC Ginwil Cash Account receivable Ex.co ( To record check received from w.co) 17 3 Mad Delivery expenses cash (To record the clelivery expenses cast increased) 1521 5600 5600 110 18 SAM Credit card expens 536 1940 110 940 Cash To receord the service fee paid) 16544 1218 19 15ne sales tax puyable. 6544 llo Cash Moreo To record sales tax paid)