Accounting Information Systems

1. Made a refund to a customer as an allowance for damaged goods
2. Received collection from customer within the 3% discount period.
3. Purchased merchandise for cash.
4. Paid a creditor within the 3% discount period.
5. received collection from customer after the 3% discount period had expried
6. Paid freight on merchandise purchased.
7. Paid cash for office equipment.
8. Received cash refund from supplier for merchandise returned
9. Withdrew cash for personal use for owner.
10. Made cash sales.

Instructions

Indicate (a) the journal, and (b) the columns in the journal that should be used in recording each transaction.

Solution