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Chapter 7 p. 514 Problem Set A PA3 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, $4,000

Chapter 7 p. 514 Problem Set A PA3

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, $4,000 on July 1, and issued invoice #12 on account number #312
Jul. 5 Sold 20 thing-a-jigs to Miami Inc. for $2,150 cash on July 5, and issued invoice #13
Jul. 8 Sold 30 what-is to Smith Mfg. for $5,000 and offered terms of 2/10, n/30; issued invoice #14 on account number #178
Jul. 9 Received payment from Palm Springs Inc.
Jul. 22 Received payment from Smith Mfg. after expiration of the discount period

  1. Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger.

SALES JOURNAL

Page 22

Date

Account

Invoice No.

Ref.

DR Accts. Receivable

CR Sales

DR COGS

CR Merchandise Inventory

2019

 

 

 

 

 

Jul. 1

Palm Springs Inc. (312)

12

 

     ????

2,000.00

Jul. 8

Smith Mfg (178)

14

 

  ????

2,500.00

Date

Account

Invoice No.

Ref.

Cash DR

Sales Discounts DR

Accounts Receivable, Sales, or other accounts CR

2018

 

 

 

 

 

 

Jul. 5

Miami Inc.

13

 

???

 

????

Jul. 9

Palm Springs (312)

 

 

???    ???    ????

Jul. 22

Smith Mfg (178)

 

 

  ???

 

   ????

NAME

 Palm Spring Inc.

 

 312

 

 

DATE

DESCRIPTION

POST
REF.

DEBIT

CREDIT

BALANCE

 

 

 2019

 

 

 

 

 

 

 

 

 July

 1 SJ22

 Sale

 ???

  

???

  

 

 

 

 9 CR24

 Payment

 

????

  ????

  

 

 

 

 

 

 

 

 

 

 

               

 

NAME

 Smith Mfg.

 

178

 

 

DATE

DESCRIPTION

POST
REF.

DEBIT

CREDIT

BALANCE

 

 

 2019

 

 

 

 

 

 

 

 

 July

 8 SJ22

 Sale

 ???

  

???

  

 

 

 

 9  CR24

 Payment

 

???

  ????

  

 

 

 

 

 

 

 

 

 

 

Aug 23 2020 View more View Less

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