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Captured with Xnip Ledger or QuickBooks Using the purchases, bash payments, and general journals The general ledger of Shiny Lake Golf Shop includes the following selected accounts, along with their account numbers: Transactions in December that affected purchases and cash payments follow: Dec. 2 Purchased merchandise inventory on credit from Tomas, $4,500. Terms were 1/10, n/30. Paid monthly rent, debiting Rent Expense for $2,300 Purchased office supplies on credit terms of 1/10, n/30 from Right Supply $440 Received and paid electricity utility bill, $580. Purchased equipment on account from Ace Equipment, $6,600. Payment terms were n30 Returned the equipment to Ace Equipment. It was damaged. Paid.Tomas the amount owed on the purchase of December 2. Purchased merchandise inventory on account from Callahan Golf, $4,000. Terms were 3/10, n/30 Purchased merchandise inventory for cash, $600. Paid a semiannual insurance premium, debiting Prepaid Insurance, $1,400. Paid its account payable to Right Supply from December 5. Received and paid gas and water utility bills, $200 Purchased merchandise inventory on credit terms of 2/10, n/45 from Dormer, Inc, $3,400 3 5 8 9 10 11 12 13 14 16 18 21 21 Paid ts account payable to Callahan Golf from December 12. 22 Purchased office supplies on account from Office World, Inc, $600. Terms were n/30 Returned to Dormer, Inc. $1,000 of the merchandise inventory purchased on December 21 26 Paid Dormer, Inc. the net amount owed from December 21 less the return on December 26. 31 Requirements 1. Shiny Lake Golf Shop records purchase returns in the general journal. Use the appropriate journal to record the transactions in a purchases journal, a cash payments journal (omit the Check No. column), and a general journal. The company uses the perpetual inventory system. 2. Total each column of the special journals. Show that total debits equal total credits in each special journal. 3. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the journals. Step-by-step solution

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