Question

Blue Company, a sole proprietorship owned by V. Blue, reports under ASPE. It uses special journals and a general journal. The company uses a perpetual inventory system and had the following transactions:

Sept. 2		Sold merchandise on account to T. Lu, $2,040, invoice #321, terms n/30. The cost of the merchandise sold was $1,320.
3		Purchased supplies on account from Berko Co., $175.
10		Purchased merchandise on account from Leonard Co., $820, FOB shipping point, terms n/30.
11		Paid freight of $90 to A&F Shippers.
11		Returned unsatisfactory merchandise to Leonard Co., $160, for credit on account.
12		Purchased equipment on account from Wells Co., $8,900.
16		Sold merchandise for cash to L. Maille for $920. The cost of the merchandise sold was $580.
18		Purchased merchandise for cash from Leonard Co., $570, FOB destination.
20		Accepted returned merchandise from customer L. Maille, $920 (see Sept. 16 transaction). Gave full cash refund. Restored the merchandise to inventory.
24		Paid the correct amount owing for the merchandise purchased from Leonard earlier in the month.
25		Received payment from T. Lu for Sept. 2 sale.
26		Sold merchandise on account to M. Gafney, $940, invoice #322, terms n/30, FOB destination. The cost of the merchandise was $560. The appropriate party paid $50 to Freight Co. for shipping charges.
30		Paid September salaries, $2,720.
30		Withdrew cash for owner’s personal use, $1,000.
30		Paid for supplies purchased on September 3.

Record the transaction(s) for September that should be recorded in the sales journal. (Post entries in the order presented in the problem statement.)

BLUE COMPANY Sales Journal										S1
Date		Account Debited		Invoice No.		Ref.		Accounts Receivable Dr. Sales Cr.		Cost of Goods Sold Dr. Merchandise Inventory Cr.
choose a transaction date                                                                      Sept. 2Sept. 3Sept. 10Sept. 11Sept. 12Sept. 16Sept. 18Sept. 20Sept. 24Sept. 25Sept. 26Sept. 30		select an Account Debited                                                                      T. LuLeonard Co.Berko Co.A&F ShippersL. MailleM. GafneyWells Co.		select a number                                                                      321322		√		enter a dollar amount		enter a dollar amount
choose a transaction date                                                                      Sept. 2Sept. 3Sept. 10Sept. 11Sept. 12Sept. 16Sept. 18Sept. 20Sept. 24Sept. 25Sept. 26Sept. 30		select an Account Debited                                                                      T. LuLeonard Co.Wells Co.A&F ShippersM. GafneyBerko Co.L. Maille		select a number                                                                      322321		√		enter a dollar amount		enter a dollar amount

Record the transaction(s) for September that should be recorded in the purchases journal. (Post entries in the order presented in the problem statement.)

Purchases Journal														P1
Date		Account Credited		Ref.		Accounts Payable Cr.		Merchandise Inventory Dr.		Supplies Dr.		Other Accounts
												Account Debited		Amount
choose a transaction date                                                                      Sept. 2Sept. 3Sept. 10Sept. 11Sept. 12Sept. 16Sept. 18Sept. 20Sept. 24Sept. 25Sept. 26Sept. 30		select an Account Credited                                                                      Berko Co.A&F ShippersL. MailleWells Co.M. GafneyT. LuLeonard Co.		√		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an Account Debited                                                                      LandSalaries ExpenseFreight InFreight OutAdvertisingEquipmentBuildings		enter a dollar amount
choose a transaction date                                                                      Sept. 2Sept. 3Sept. 10Sept. 11Sept. 12Sept. 16Sept. 18Sept. 20Sept. 24Sept. 25Sept. 26Sept. 30		select an Account Credited                                                                      L. MailleA&F ShippersLeonard Co.Berko Co.M. GafneyT. LuWells Co.		√		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an Account Debited                                                                      LandSalaries ExpenseAdvertisingFreight InFreight OutBuildingsEquipment		enter a dollar amount
choose a transaction date                                                                      Sept. 2Sept. 3Sept. 10Sept. 11Sept. 12Sept. 16Sept. 18Sept. 20Sept. 24Sept. 25Sept. 26Sept. 30		select an Account Credited                                                                      Berko Co.M. GafneyA&F ShippersT. LuLeonard Co.L. MailleWells Co.		√		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an Account Debited                                                                      Salaries ExpenseAdvertisingLandEquipmentFreight OutBuildingsFreight In		enter a dollar amount

Answer 1