Jayne Cobb Company has the following selected transactions during March.
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Mar. |
2 |
Purchased equipment costing $9,400 from Adam Company on account. |
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5 |
Received credit of $410 from Baldwin Company for merchandise damaged in shipment |
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to Jayne Cobb. |
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7 |
Issued credit of $400 to Cockrum Company for merchandise the customer returned. |
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The returned merchandise had a cost of $260. |
Jayne Cobb Company uses a one column purchases journal, a sales journal, the columnar cash journals used in the text, and a general journal.
Instructions
(a) Journalize the transactions in the general journal.
(b) In a brief memo to the president of Jayne Cobb Company, explain the postings to the control and subsidiary accounts from each type of journal.