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    Journalizing Merchandising Transactions, Problem #13

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    Feiya Liu
    Lenore Loqueque Homewares general journal for October shows various purchases and sales on account as well as cash transactions. Purchases of merchandise for $60,000 and $90,000 including $6,000 in freight were made on credit. Sales of $30,000 and $24,000 were made on credit. The Lacson account was collected for $30,000 and payments were made to Ortiz for $96,000 and Orajada for $54,000.

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    Journalizing Merchandising Transactions, Problem #13

    Uploaded by

    Feiya Liu
    14K views2 pages
    Lenore Loqueque Homewares general journal for October shows various purchases and sales on account as well as cash transactions. Purchases of merchandise for $60,000 and $90,000 including $6,000 in freight were made on credit. Sales of $30,000 and $24,000 were made on credit. The Lacson account was collected for $30,000 and payments were made to Ortiz for $96,000 and Orajada for $54,000.

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    Lenore Loqueque Homewares general journal for October shows various purchases and sales on account as well as cash transactions. Purchases of merchandise for $60,000 and $90,000 including $6,000 in freight were made on credit. Sales of $30,000 and $24,000 were made on credit. The Lacson account was collected for $30,000 and payments were made to Ortiz for $96,000 and Orajada for $54,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    14K views2 pages

    Journalizing Merchandising Transactions, Problem #13

    Uploaded by

    Feiya Liu
    Lenore Loqueque Homewares general journal for October shows various purchases and sales on account as well as cash transactions. Purchases of merchandise for $60,000 and $90,000 including $6,000 in freight were made on credit. Sales of $30,000 and $24,000 were made on credit. The Lacson account was collected for $30,000 and payments were made to Ortiz for $96,000 and Orajada for $54,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    Lenore Loqueque Homewares

    GENERAL JOURNAL
    For the month ended: October 31
    Page 1
    Date Account Title and Explanation P.R. Debit Credit
    October 7 Accounts Receivable 30,000
    Sales 30,000
    Sold merchandise on credit

    8 Purchase 60,000
    Accounts Payable 60,000
    Purchased merchandise on credit

    9 Freight In 2,540
    Cash 2,540
    Paid shipping charges

    10 Purchase 90,000
    Freight In 6,000
    Accounts Payable 96,000
    Purchased merchandise on credit

    13 Office Supplies 24,000


    AccountsPayable 24,000
    Purchased office supplies on credit

    14 Accounts Receivable 24,000


    Sales 24,000
    Sold merchandise on credit

    Accounts Payable 6,000


    Purchase Return 6,000
    Returned damaged merchandise

    17 Cash 30,000
    Accounts Receivable 30,000
    Collected Lacson Co. Account

    18 Accounts Payable 4,000


    Office Supplies 4,000
    Returned portion of office supplies

    19 Cash 18,000
    Sales 18,000
    Sold merchandise in cash

    20 Accounts Payable 96,000


    Cash 96,000
    Paid Ortiz Co. Account

    21 Accounts Payable 54,000


    Cash 54,000
    Paid Orajada Co. Account

    24 Sales Return 2,000


    Accounts Receivable 2,000
    Return of merchandise

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