Instructions
Journalize the entries to record the transactions of Capers Company for October using the periodic inventory system.
Answer:
Oct. 1 Purchases14,448
Accounts Payable—UK Imports Co.14,448
3 Purchases9,950
Freight In220
Accounts Payable—Hoagie Co.10,170
4 Purchases13,650
Accounts Payable—Taco Co.13,650
6 Accounts Payable—Taco Co. 4,550
Purchases Returns and Allowances4,550
13 Accounts Payable—Hoagie Co. 10,170
Cash9,971
Purchases Discounts ($9,950 × 2%) 199
14 Accounts Payable—Taco Co. 9,100
Cash8,918
Purchases Discounts182
19 Purchases27,300
Accounts Payable—Veggie Co.27,300
19 Freight In400
Cash400
20 Purchases22,000
Accounts Payable—Caesar Salad Co. 22,000
30 Accounts Payable—Caesar Salad Co. 22,000
Cash21,780
Purchases Discounts220
31 Accounts Payable—UK Imports Co. 14,448
Cash14,448
31 Accounts Payable—Veggie Co. 27,300
Cash27,300