Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Gadget Palace is a retailer selling unique hardware. Gadget Palace uses perpetual inventor

Gadget Palace is a retailer selling unique hardware. Gadget Palace uses perpetual inventor

Gadget Palace is a retailer selling unique hardware. Gadget Palace uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of August:

(a)

On July 5th, Gadget Palace purchases inventory for sale from Turbo Tools for $11,400.00 with terms 2/10, n/30.

(b)

On July 6th, Gadget Palace pays Fast Truck Transport $75 for freight-in on the July 5th order.

(c)

Gadget Palace gets a credit memo from Turbo Tools for $215.00 for damaged merchandise on July 8th.

(d)

On July 15th, Gadget Palace pays Turbo Tools the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

219. Marshall Supplies is a janitorial supply store. Marshall Supplies uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of July:

(a)

On July 4th, Marshall purchases inventory for sale from Tidy Wholesalers for $8,500.00 with terms 1/10, n/30.

(b)

On July 5th, Marshall pays Express Transfer $45 for freight-in on the July 4th order.

(c)

On July 12th, Marshall buys an additional $11,985 in inventory from Tidy Wholesalers with terms 1/10, n/30.

(d)

On July 22nd, Marshall pays Tidy Wholesalers the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

220. Bargain Wholesalers sells pet supplies to retailers including Pet World Supplies. Bargain Wholesalers uses perpetual inventory. Use a General Journal to journalize the following three transactions during the month of May:

 

(a)

On May 4th, Bargain Wholesalers sells inventory to Pet World Supplies for $8,250.00 with terms 1/10, n/30. The cost of the merchandise is $5,755.00.

 

(b)

On May 13th, Bargain Wholesalers sells an additional $10,985 in inventory to Pet World Supplies with terms 1/10, n/30. The cost of the merchandise is $6,925.00.

 

(c)

On May 23rd, Bargain Wholesalers receives a check from Pet World Supplies paying the balance due.

 

 

 

 

                  General Journal

 

 

GJ Page 85

 

Date:

Account Title

Post
Ref:

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         

 


 


 


 

Gadget Palace is a retailer selling unique hardware. Gadget Palace uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of August:

(a)

On July 5th, Gadget Palace purchases inventory for sale from Turbo Tools for $11,400.00 with terms 2/10, n/30.

(b)

On July 6th, Gadget Palace pays Fast Truck Transport $75 for freight-in on the July 5th order.

(c)

Gadget Palace gets a credit memo from Turbo Tools for $215.00 for damaged merchandise on July 8th.

(d)

On July 15th, Gadget Palace pays Turbo Tools the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

219. Marshall Supplies is a janitorial supply store. Marshall Supplies uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of July:

(a)

On July 4th, Marshall purchases inventory for sale from Tidy Wholesalers for $8,500.00 with terms 1/10, n/30.

(b)

On July 5th, Marshall pays Express Transfer $45 for freight-in on the July 4th order.

(c)

On July 12th, Marshall buys an additional $11,985 in inventory from Tidy Wholesalers with terms 1/10, n/30.

(d)

On July 22nd, Marshall pays Tidy Wholesalers the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

220. Bargain Wholesalers sells pet supplies to retailers including Pet World Supplies. Bargain Wholesalers uses perpetual inventory. Use a General Journal to journalize the following three transactions during the month of May:

 

(a)

On May 4th, Bargain Wholesalers sells inventory to Pet World Supplies for $8,250.00 with terms 1/10, n/30. The cost of the merchandise is $5,755.00.

 

(b)

On May 13th, Bargain Wholesalers sells an additional $10,985 in inventory to Pet World Supplies with terms 1/10, n/30. The cost of the merchandise is $6,925.00.

 

(c)

On May 23rd, Bargain Wholesalers receives a check from Pet World Supplies paying the balance due.

 

 

 

 

                  General Journal

 

 

GJ Page 85

 

Date:

Account Title

Post
Ref:

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         

 


 


 


 

Gadget Palace is a retailer selling unique hardware. Gadget Palace uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of August:

(a)

On July 5th, Gadget Palace purchases inventory for sale from Turbo Tools for $11,400.00 with terms 2/10, n/30.

(b)

On July 6th, Gadget Palace pays Fast Truck Transport $75 for freight-in on the July 5th order.

(c)

Gadget Palace gets a credit memo from Turbo Tools for $215.00 for damaged merchandise on July 8th.

(d)

On July 15th, Gadget Palace pays Turbo Tools the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

219. Marshall Supplies is a janitorial supply store. Marshall Supplies uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of July:

(a)

On July 4th, Marshall purchases inventory for sale from Tidy Wholesalers for $8,500.00 with terms 1/10, n/30.

(b)

On July 5th, Marshall pays Express Transfer $45 for freight-in on the July 4th order.

(c)

On July 12th, Marshall buys an additional $11,985 in inventory from Tidy Wholesalers with terms 1/10, n/30.

(d)

On July 22nd, Marshall pays Tidy Wholesalers the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

220. Bargain Wholesalers sells pet supplies to retailers including Pet World Supplies. Bargain Wholesalers uses perpetual inventory. Use a General Journal to journalize the following three transactions during the month of May:

 

(a)

On May 4th, Bargain Wholesalers sells inventory to Pet World Supplies for $8,250.00 with terms 1/10, n/30. The cost of the merchandise is $5,755.00.

 

(b)

On May 13th, Bargain Wholesalers sells an additional $10,985 in inventory to Pet World Supplies with terms 1/10, n/30. The cost of the merchandise is $6,925.00.

 

(c)

On May 23rd, Bargain Wholesalers receives a check from Pet World Supplies paying the balance due.

 

 

 

 

                  General Journal

 

 

GJ Page 85

 

Date:

Account Title

Post
Ref:

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         

 


 


 


 

Gadget Palace is a retailer selling unique hardware. Gadget Palace uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of August:

(a)

On July 5th, Gadget Palace purchases inventory for sale from Turbo Tools for $11,400.00 with terms 2/10, n/30.

(b)

On July 6th, Gadget Palace pays Fast Truck Transport $75 for freight-in on the July 5th order.

(c)

Gadget Palace gets a credit memo from Turbo Tools for $215.00 for damaged merchandise on July 8th.

(d)

On July 15th, Gadget Palace pays Turbo Tools the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

219. Marshall Supplies is a janitorial supply store. Marshall Supplies uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of July:

(a)

On July 4th, Marshall purchases inventory for sale from Tidy Wholesalers for $8,500.00 with terms 1/10, n/30.

(b)

On July 5th, Marshall pays Express Transfer $45 for freight-in on the July 4th order.

(c)

On July 12th, Marshall buys an additional $11,985 in inventory from Tidy Wholesalers with terms 1/10, n/30.

(d)

On July 22nd, Marshall pays Tidy Wholesalers the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

220. Bargain Wholesalers sells pet supplies to retailers including Pet World Supplies. Bargain Wholesalers uses perpetual inventory. Use a General Journal to journalize the following three transactions during the month of May:

 

(a)

On May 4th, Bargain Wholesalers sells inventory to Pet World Supplies for $8,250.00 with terms 1/10, n/30. The cost of the merchandise is $5,755.00.

 

(b)

On May 13th, Bargain Wholesalers sells an additional $10,985 in inventory to Pet World Supplies with terms 1/10, n/30. The cost of the merchandise is $6,925.00.

 

(c)

On May 23rd, Bargain Wholesalers receives a check from Pet World Supplies paying the balance due.

 

 

 

 

                  General Journal

 

 

GJ Page 85

 

Date:

Account Title

Post
Ref:

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         

 


 


 


 

Gadget Palace is a retailer selling unique hardware. Gadget Palace uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of August:

(a)

On July 5th, Gadget Palace purchases inventory for sale from Turbo Tools for $11,400.00 with terms 2/10, n/30.

(b)

On July 6th, Gadget Palace pays Fast Truck Transport $75 for freight-in on the July 5th order.

(c)

Gadget Palace gets a credit memo from Turbo Tools for $215.00 for damaged merchandise on July 8th.

(d)

On July 15th, Gadget Palace pays Turbo Tools the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

219. Marshall Supplies is a janitorial supply store. Marshall Supplies uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of July:

(a)

On July 4th, Marshall purchases inventory for sale from Tidy Wholesalers for $8,500.00 with terms 1/10, n/30.

(b)

On July 5th, Marshall pays Express Transfer $45 for freight-in on the July 4th order.

(c)

On July 12th, Marshall buys an additional $11,985 in inventory from Tidy Wholesalers with terms 1/10, n/30.

(d)

On July 22nd, Marshall pays Tidy Wholesalers the balance due.

 

 

 

                  General Journal

 

 

 

Date:

Account Title

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

 


 


 


 


 

 

220. Bargain Wholesalers sells pet supplies to retailers including Pet World Supplies. Bargain Wholesalers uses perpetual inventory. Use a General Journal to journalize the following three transactions during the month of May:

 

(a)

On May 4th, Bargain Wholesalers sells inventory to Pet World Supplies for $8,250.00 with terms 1/10, n/30. The cost of the merchandise is $5,755.00.

 

(b)

On May 13th, Bargain Wholesalers sells an additional $10,985 in inventory to Pet World Supplies with terms 1/10, n/30. The cost of the merchandise is $6,925.00.

 

(c)

On May 23rd, Bargain Wholesalers receives a check from Pet World Supplies paying the balance due.

 

 

 

 

                  General Journal

 

 

GJ Page 85

 

Date:

Account Title

Post
Ref:

Debit:

Credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         

 


 


 


 

 

Dec 09 2019 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions