College Accounting: Chapter 12 Mastery Problem Pink Petal Flower Shop (Special Journals)

College Accounting
Chapter 12 Mastery Problem
During the month of October, 20--, The Pink Petal flower shop engaged in the following transactions:
Oct 1. Sold merchandise on account to Elizabeth Shoemaker, $1,000, plus tax of $50, Sale no. 222.
Oct 2. Issued check no. 190 to Jill Hand in payment of October 1 balance of $500, less 2% discount.
Oct 2. Purchased merchandise on account from Flower Wholesalers, $4,000. Invoice no. 500, dated October 2, terms 2/10, n/30.
Oct 4. Purchased merchandise on account from Seidl Enterprises, $700. Invoice no. 527, dated October 4, terms 2/15, n/30.
Oct 5. Issued check no. 191 in payment of telephone expense for the month of September, $150.
Oct 7. Sold merchandise for cash, $3,500, plus tax of $175.
Oct 9. Received payment from Leigh Summers in full settlement of account, $2,000.
Oct 11. Issued check no. 192 to Flower Wholesalers in payment of October 1 balance of $1,500.

Required:
1. Record the transactions in a sales journal (page 7), cash receipts journal (page 10), purchases journal (page 6), cash payments journal (page 11), and general journal (page 5). Total, verify and rule the columns where appropriate at the end of the month.
2. Post from the journals to the general ledger, accounts receivable ledger, and accounts payable ledger accounts. Use account numbers as show in the chapter.
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