Submitted by : Francis Ar-jay Lipranon
Journal Entries for March Transactions
DATE
Mar. 1 Rent Expense $2,400
Cash $2,400
3 Merchandise Inventory $21,600
Accounts Payable $21,600
4 Merchandise Inventory $500
Cash $500
6 Accounts Receivable -Hillcrest Co. $8,500
Sales $5,000
Cost of Good Sales $5,000
Merchandise Inventory $5,000
7 Cash $8,900
Accounts Receivable -Foley Co. $8,900
10 Cash $27,200
Sales $27,200
Cost of Good Sold $16,000
Merchandise Inventory $16,000
13 Accounts Payable -Huisman Co. $21,600
Cash $21,168
14 Purchase Discounts $432
Sales Return $ Allowances. $1,500
Accounts Receivable -Hillcrest Co. $1,500
Merchandise Inventory $900
Cost of Good Sold $900
15 Advertising Expense. $2,600
Cash $2,600
16 Cash $6,860
Sales Discounts $140
Accounts Receivable -Hillcrest Co. $7,000
19 Merchandise Inventory. $11,800
Cash $11,800
20 Accounts Payable -Bakke Co. $9,000
Cash $9,000
20 Accounts Receivable -Wilts Co. $22,300
Sales $22,300
Cost of Good Sold $13,200
Merchandise Inventory $13,200
21 Delivery Expense $1,100
Cash $1,100
21 Cash $17,600
Accounts Receivable -Owen Co. $17,600
21 Merchandise Inventory $19,900
Accounts Payable-Nye Co. $19,900
24 Accounts Payable -Nye Co. $2,000
Merchandise Inventory $2,000
26 Sales Return & Allowances $1,200
Cash $1,200
Merchandise Inventory $700
Cost of Good Sold $700
28 Sales Salaries Expense 7,600
Office Salaries Expense $4,800
Cash $12,400
29 Store Supplies $800
Cash $800
30 Accounts Receivable -Whitetail Co. $18,750
Sales $18,750
Cost Of Good Sold $11,250
Merchandise Inventory $11,250
30 Cash $18,600
Sales Discount $150
Accounts Receivable -Wilts Co. $18,750
31 Accounts Payable-Nye Co. $17,900
Cash $17,721
Purchase Discounts. $179