Gome Company Uses special journals and a general journal. the following transactions occurred during September 2017.
| Sept. 2 | Sold merchandise on account to H. Drew, invoice no. 101, $620, terms n/30. The cost of the merchandise sold was $420. |
| 10 | Purchased merchandise on account from A. Pagan $650, terms 2/10, n3/0. |
| 12 | Purchased office equipment on account from R. Cairo $6,500. |
| 21 | Sold merchandise on account to G. Holliday, invoice no. 102 for $800, terms 2/10, n/30. The cost of the merchandise sold was $480. |
| 25 | Purchased merchandise on account from D. Downs $860, terms n/30. |
| 27 | Sold merchandise to S. Miller for $700 cash. The cost of the merchandise sold was $400. |
Instructions
- Prepare a sales journal and a single-column purchases journal. (Use page 1 for each journal)
- Record the transaction(s) for September that should be journalized in the sales journal and the purchases journal.
Solution
a. and b.
Gome Company
Gome Company
Note: Non-merchandise purchase on September 12 is not posted on Purchase journal and Cash sales for Merchandise on September 27 is not posted on sales journal.
