Journalizing Sales and Purchase-Related Transactions

PROBLEM 16
Agnes Ramos Distributors Journal Entries Cammayo Retailer
May-04 Accounts Receivables 162,000 May-04 Purchases
Sales 162,000
May-05 Accounts Receivables 710,000 May-05 Purchases
Sales 710,000
May-06 No Entry May-06 Transportation In

May-07 Sales Returns and Allowances 12,000 May-07 Accounts Payable

Accounts Receivable 12,000
May-09 Cash 147000 May-09 Accounts Payable
Sales Discount 3000
Accounts Receivable 150,000
May-10 Transportation Out 2,000 May-10 No Entry
Cash 2,000
May-12 Cash 695800 May-12 Accounts Payable
Sales Discount 14200
Accounts Receivable 710,000
May-18 Accounts Receivable 150000 May-18 Purchases
Sales 150000
May-21 No entry May-21 Transportation In

May-23 Cash 147000 May-23 Accounts Payable

Sales Discount 3000
Accounts Receivable 150000
 Cammayo Retailers Journal Entries
162,000
Accounts Payable 162,000
710,000
Accounts Payable 710,000
Transportation In 8,000
Cash 8,000
Accounts Payable 12,000
Purchase Returns and Allowances 12,000
Accounts Payable 150,000
Purchase Discounts 3000
Cash 147,000

Accounts Payable 710,000

Purchase Discounts 14200
Cash 695800
150000
Accounts Payable 150000
Transportation In 3,000
Cash 3,000
Accounts Payable 150000
Purchase Discounts 3000
Cash 147000