Question

Purchases and Cash Payments Journals Happy Tails Inc. has a September 1, 20Y4, accounts payable balance of $620, which consists of $320 due Labradore Inc. and $300 due Meow Mart Inc. Transactions related to purchases and cash payments completed by Happy Tails Inc. during the month of September 20Y4 are as follows: Sept. 4. Purchased pet supplies from Best Friend Supplies Inc. on account, $295. Sept. 6. Issued Check No. 345 to Labradore Inc. in payment of account, $320. Sept. 13. Purchased pet supplies from Poodle Pals Inc. on account, $790. Sept. 18. Issued Check No. 346 to Meow Mart Inc. in payment of account, $300. Sept. 19. Purchased office equipment from Office Helper Inc. on account, $2,510. Sept. 23. Issued Check No. 347 to Best Friend Supplies Inc. in payment of account from purchase made on September 4. Sept. 27. Purchased pet supplies from Meow Mart Inc. on account, $450. Sept. 30. Issued Check No. 348 to Jennings Inc. for cleaning expenses, $80. Happy Tails Inc. uses the following accounts: Cash 11 Pet Supplies 14 Office Equipment 18 Accounts Payable 21 Cleaning Expense 54 a. Prepare a purchases journal and a cash payments journal to record these transactions in chronological order. If an amount box does not require an entry, leave it blank. If no entry is required in "Other Accounts Dr." then select "No entry required".

Answer 1

Answer:

Explanation:

                                                  (21)         (14/18)      (11)

                                              Payable    Purchase  Cash/ Bank

Date    Particulars         Dr        Cr          Dr    Cr   Dr    Cr

Sept.1   Labradore                      320

Sept.1       Meow                         300

Sept 4  Best friend                     295       295

Sept 6  Labradore          320                                           320

Sept 13  poodle                           790       790

Sept 18   Meow               300                                          300

Sept 19 Helper                           2510       2510

Sept 23 Best friend       295                                             295

Sept 27  Meow                           450         450

Total                                 915    4665       4045               915

In recording purchase transaction ,purchase account is debited , payable account credited and the bank or cash account credited with corresponding payment