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  • Exercise 4

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    Edgardo Baula Balauag Jr.
    5 views2 pages
    The document shows accounting transactions between October 1-31 for various accounts including merchandise inventory, accounts payable, accounts receivable, sales, cost of goods sold, cash, and freight out. Transactions include purchases and sales of inventory, payments to suppliers, collection of payments from customers, returns and allowances, and payment of freight.

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    The document shows accounting transactions between October 1-31 for various accounts including merchandise inventory, accounts payable, accounts receivable, sales, cost of goods sold, cash, and freight out. Transactions include purchases and sales of inventory, payments to suppliers, collection of payments from customers, returns and allowances, and payment of freight.

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    © All Rights Reserved
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    5 views2 pages

    Exercise 4

    Uploaded by

    Edgardo Baula Balauag Jr.
    The document shows accounting transactions between October 1-31 for various accounts including merchandise inventory, accounts payable, accounts receivable, sales, cost of goods sold, cash, and freight out. Transactions include purchases and sales of inventory, payments to suppliers, collection of payments from customers, returns and allowances, and payment of freight.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Date Account Titles Debit Credit

    Oct 1 Merchandise Inventory 1,400.00


    Accounts Payable 1,400.00

    Merchandise Inventory 200.00


    Cash 200.00

    Oct 5 Accounts Receivable 600.00


    Sales 600.00

    Cost of Good Sold 420.00


    Merchandise Inventory 420.00

    Oct 7 Accounts Payable 500.00


    Merchandise Inventory 500.00

    Oct 10 Accounts Payable 900.00


    Cash 900.00

    Oct 14 Sales Returns and allowances 100.00


    Accounts Receivable 100.00

    Merchandise Inventory 70.00


    Cost of Goods Sold 70.00

    Oct 22 Cash 500.00


    Accounts Receivable 500.00
    Oct 23 Merchandise Inventory 2,000.00
    Accounts Payable 2,000.00

    Merchandise Inventory 300.00


    Cash 300.00

    Oct 25 Accounts Receivable 1,000.00


    Sales 1,000.00

    Cost of Good Sold 700.00


    Merchandise Inventory 700.00

    Freight Out 150.00


    Cash 150.00

    Oct 26 Accounts Payable 2,000.00


    Cash 2,000.00

    Oct 31 Cash 1,000.00


    Accounts Receivable 1,000.00

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