| Apr. 2 |
|
Purchased $14,500 of merchandise on credit from Negi Company, invoice dated April 2, terms 2/10, n/60.
|
| 3 |
|
Sold merchandise on credit to Brooke Sledd, Invoice No. 760, for $4,400 (cost is $2,700). |
| 3 |
|
Purchased $1,500 of office supplies on credit from Madison, Inc. Invoice dated April 2, terms n/10 EOM.
|
| 4 |
|
Issued Check No. 587 to U.S. View for advertising expense, $864. |
| 5 |
|
Sold merchandise on credit to Paul Kohr, Invoice No. 761, for $8,700 (cost is $6,400). |
| 6 |
|
Received an $75 credit memorandum from Madison, Inc., for the return of some of the office supplies received on April 3.
|
| 9 |
|
Purchased $12,215 of store equipment on credit from Ned's Supply, invoice dated April 9, terms n/10 EOM.
|
| 11 |
|
Sold merchandise on credit to Amy Nilson, Invoice No. 762, for $13,400 (cost is $7,400). |
| 12 |
|
Issued Check No. 588 to Negi Company in payment of its April 2 invoice, less the discount. |
| 13 |
|
Received payment from Brooke Sledd for the April 3 sale, less the discount. |
| 13 |
|
Sold $10,900 of merchandise on credit to Brooke Sledd (cost is $4,200), Invoice No. 763. |
| 14 |
|
Received payment from Paul Kohr for the April 5 sale, less the discount. |
| 16 |
|
Issued Check No. 589, payable to Payroll, in payment of sales salaries expense for the first half of the month, $11,250. Cashed the check and paid employees.
|
| 16 |
|
Cash sales for the first half of the month are $55,860 (cost is $41,700). (Cash sales are recorded daily from cash register data but are recorded only twice in this problem to reduce repetitive entries.)
|
| 17 |
|
Purchased $11,800 of merchandise on credit from Price Company, invoice dated April 17, terms 2/10, n/30.
|
| 18 |
|
Borrowed $69,000 cash from First State Bank by signing a long-term note payable. |
| 20 |
|
Received payment from Amy Nilson for the April 11 sale, less the discount. |
| 20 |
|
Purchased $1,120 of store supplies on credit from Ned's Supply, invoice dated April 19, terms n/10 EOM.
|
| 23 |
|
Received a $1,100 credit memorandum from Price Company for the return of defective merchandise received on April 17.
|
| 23 |
|
Received payment from Brooke Sledd for the April 13 sale, less the discount.
|
| 25 |
|
Purchased $11,265 of merchandise on credit from Negi Company, invoice dated April 24, terms 2/10, n/60.
|
| 26 |
|
Issued Check No. 590 to Price Company in payment of its April 17 invoice, less the return and the discount.
|
| 27 |
|
Sold $3,490 of merchandise on credit to Paul Kohr, Invoice No. 764 (cost is $2,520). |
| 27 |
|
Sold $7,300 of merchandise on credit to Amy Nilson, Invoice No. 765 (cost is $4,630). |
| 30 |
|
Issued Check No. 591, payable to Payroll, in payment of the sales salaries expense for the last half of the month, $11,250.
|
| 30 |
|
Cash sales for the last half of the month are $77,600 (cost is $62,400). |