Montalvo Company uses special journals and a general journal. The following transactions occurred during September 2010.
|
Sept. 2 |
Sold merchandise on account to T. Hossfeld, invoice no. 101, $720, terms n/30.The cost of the merchandise sold was $420. |
|
10 |
Purchased merchandise on account from L. Rincon $600, terms 2/10, n/30. |
|
12 |
Purchased office equipment on account from R. Press $6,500. |
|
21 |
Sold merchandise on account to P. Lowther, invoice no. 102 for $800, terms 2/10, n/30. The cost of the merchandise sold was $480. |
|
25 |
Purchased merchandise on account from W. Barone $860, terms n/30. |
|
27 |
Sold merchandise to S. Miller for $700 cash.The cost of the merchandise sold was $400. |
Instructions
(a) Prepare a sales journal and a single column purchase journal.
(b) Record the transaction(s) for September that should be journalized in the sales journal and the purchases journal.