10B-2. As the accountant of Trina's Natural Food Store, (1) journalize the following transactions into...

60.1K

Verified Solution

Question

Accounting

image
10B-2. As the accountant of Trina's Natural Food Store, (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, be sure to put in the following balances: Antion Co., S450; Block Co., $500; Midden Co., 51,150; Rex Co., 5250; Merchandise Inventory, $18,000; Accounts Payable, $2,350. Use the perpetual inventory method. 2017 Oct 8 Purchased $650 of merchandise on account from Antion Co., invoice no. 400, dated October 9; terms 9/10, 1/60. 10 Purchased $1,250 of merchandise on account from Block Co., invoice no. 420, dated October 11; terms 9/10, 1/60. 12 Purchased $700 of store supplies on account from Midden Co., invoice no. 510, dated October 13. 14 Issued debit memo no. 8 to Antion Co. for merchandise returned, 5500, from invoice no. 400. 17 Purchased $620 of office equipment on account from Rex Co., invoice no. 810, dated October 18 24 Purchased $400 of additional store supplies on account from Midden Co., invoice no. 516, dated October 25; terms 9/10. n/30

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students