ACCT 100 Chapters 7/8: Sales/Purchase/Cash Receipts Transactions
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ACCT 100 Chapters 7/8: Sales/Purchase/Cash Receipts Transactions Mr. Moloney
March. 2. Purchased merchandise from Earl Miller Company on account, $4,000, invoice No. 410, dated March 2, terms 2/10, n/30.
March 3 Sold merchandise to Bill Burton on account, $1,000, invoice No. 1, terms 2/10, n/30.
March 6 Sold merchandise to Jim Rex on account, $700, invoice No. 2, terms 2/10, n/30.
March 9 Purchased merchandise from Earl Miller Co. on account, $1,200, invoice No. 415, dated March 9, terms 2/10, n/30.
March 9 Sold merchandise to Bill Burton on account, $600, invoice No. 3, terms 2/10, n/30.
March 10 Jim Rex returned $300 in merchandise to us.
March 10 Purchased merchandise from Minnie Katz on account, $4,000, invoice No. 311, dated March 10, terms 1/15, n/60.
March 12 Paid Earl Miller Co. invoice No. 410, dated March 2, check no.3
March 13 Sold $1,300 of toy merchandise for cash.
March 13 Paid salaries, $600, check no. 4.
March 14 Returned merchandise to Minnie Katz in the amount of $1,000.
March 16 Received payment from Jim Rex, invoice No 2 (less returned merchandise) less discount.
March 16 Received payment, in full, from Burton for sale of March 3.
March 23 Paid Minnie Katz balance owed, check no. 5.