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nevsk [136]
3 years ago
8

Transactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc. during the month of May 20Y5 a

re as follows:
May 1. Issued Check No. 57 to Bio Safe Supplies Inc. in payment of account, $345.
May 3. Purchased cleaning supplies on account from Brite N’ Shine Products Inc., $200.
May 8. Issued Check No. 58 to purchase equipment from Carson Equipment Sales, $2,860.
May 12. Purchased cleaning supplies on account from Porter Products Inc., $360.
May 15. Issued Check No. 59 to Bowman Electrical Service in payment of account, $145.
May 18. Purchased supplies on account from Bio Safe Supplies Inc., $240.
May 20. Purchased electrical repair services from Bowman Electrical Service on account, $110.
May 26. Issued Check No. 60 to Brite N’ Shine Products Inc. in payment of May 3 invoice.
May 31. Issued Check No. 61 in payment of salaries, $5,600.
Prepare a purchases journal and a cash payments journal to record these transactions. The forms of the journals are similar to those illustrated in the text. Place a check mark (✓) in the Post. Ref. column to indicate when the accounts payable subsidiary ledger should be posted. Wisk Away Cleaning Services Inc. uses the following accounts:
Cash 11
Cleaning Supplies 14
Equipment 18
Accounts Payable 21
Salary Expense 51
Electrical Service Expense 53
Business
1 answer:
yKpoI14uk [10]3 years ago
6 0

Answer:

Wisk Away Cleaning Services Inc.

a) Purchases Journal

Date         Description                                  Debit                    Credit

May 3       Cleaning Supplies    14                  $200

                Accounts Payable (Brite N’ Shine Products Inc.) 2`1  $200

To record the purchase of cleaning supplies on account.

May 18     Cleaning Supplies   14                    $240

                Accounts Payable (Bio Safe Supplies Inc.)          21      $240

To record the purchase of cleaning supplies on account.

May 20    Electrical Service Expense 53       $110

                Accounts Payable (Bowman Electrical Service)  21      $110

To record the purchase of electrical repair service on account.

b) Cash Payments Journal

Date      Description                                                  Debit         Credit

May 1     Accounts Payable (Safe Supplies Inc.) 21  $345

             Cash Account      11                                                       $345

To record the issue of Check No. 57 in payment.

May 15  Accounts Payable (Bowman Electrical Service)  21  $145

             Cash       11                                                                               $145

To record the issue of Check No. 59 in payment.

May 26 Accounts Payable (Brite N' Shine Products Inc.) 21 $200

           Cash       11                                                                               $200

To record the issue of Check No. 60 in payment.

May 31 Salaries Expense    51                             $5,600

           Cash      11                                                                         $5,600

To record the issue of Check No. 61 in payment of salaries.

Explanation:

Journals are prepared to record transactions.  There are many types of journal.  They are classified according to the type of transactions.  There are purchases journal, sales journal, general journal, cash journal, etc.

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