Oct. 1. Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30.
3. Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice.
4. Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30.
6. Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase on October 4.
13. Paid Hoagie Co. for invoice of October 3, less discount.
14. Paid Taco Co. for invoice of October 4, less debit memo of October 6 and discount.
19. Purchased merchandise from Veggie Co., $27,300, terms FOB shipping point, n/eom.
19. Paid freight of $400 on October 19 purchase from Veggie Co.
20. Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10, n/30.
30. Paid Caesar Salad Co. for invoice of October 20, less discount.
31. Paid UK Imports Co. for invoice of October 1.
31. Paid Veggie Co. for invoice of October 19.
Instructions
Journalize the entries to record the transactions of Capers Company for October.
Answer:
Oct. 1 Merchandise Inventory 14,448
Accounts Payable—UK Imports Co. 14,448
3 Merchandise Inventory 10,170
Accounts Payable—Hoagie Co. 10,170
4 Merchandise Inventory 13,650
Accounts Payable—Taco Co. 13,650
6 Accounts Payable—Taco Co. 4,550
Merchandise Inventory 4,550
13 Accounts Payable—Hoagie Co. 10,170
Cash 9,971
Merchandise Inventory 199
14 Accounts Payable—Taco Co. 9,100
Cash 8,918
Merchandise Inventory 182
19 Merchandise Inventory 27,300
Accounts Payable—Veggie Co. 27,300
19 Merchandise Inventory 400
Cash 400
20 Merchandise Inventory 22,000
Accounts Payable—Caesar Salad Co. 22,000
30 Accounts Payable—Caesar Salad Co. 22,000
Cash 21,780
Merchandise Inventory 220
31 Accounts Payable—UK Imports Co. 14,448
Cash 14,448
31 Accounts Payable—Veggie Co. 27,300
Cash 27,300
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