1. PURCHASING MERCHANDISE ON ACCOUNT
page 239
November 2. Purchased merchandise on account from Crown Distributing, $2, Purchase Invoice No. 83.
ONLY merchandise ON ACCOUNT
Purchase Invoice #
Not supplies
Not when you pay cash
LESSON 9-1

2. November 2. Paid cash for advertising, $150.00. Check No. 292.
page 243
LESSON 9-2

3. LESSON 9-2
5/21/2018
November 5. Paid cash for office supplies, $ Check No. 293.
Paid Cash
Check #
page 243
LESSON 9-2

4. Trade Discount is deducted BEFORE transaction is recorded.
Nov 7. Purchased merchandise for cash, $1, less a 60% trade discount. Check No. 301.
Trade Discount is deducted BEFORE transaction is recorded.
Paid Cash
Check #
LESSON 9-2

5. Cash Discount is taken at time of payment.
November 8. Paid cash on account to Gulf Craft Supply, $488.04, covering Purchase Invoice No. 82 for $498.00, less 2% discount, $9.96. Check No. 302.
Cash Discount is taken at time of payment.
Terms are stated as 2/10, n/30 means 2% if paid within 10 days.
Paid Cash
Check #
page 245
LESSON 9-2

6. November 13. Paid cash on account to American Paint, $2,650
November 13. Paid cash on account to American Paint, $2,650.00, covering Purchase Invoice No. 77. No cash discount taken. Check No. 303.
Paid Cash
Check #
page 246
LESSON 9-2

7. REPLENISH PETTY CASH WITH CASH SHORT
LESSON 9-3
5/21/2018
REPLENISH PETTY CASH WITH CASH SHORT
page 248
cash short is a debit, cash over is a credit
Cash Payments Journal
General
Debit
Credit
45.34
25.00
144.22
1.59
216.15
Blue
LESSON 9-3

8. REPLENISH PETTY CASH WITH CASH OVER
LESSON 9-3
5/21/2018
REPLENISH PETTY CASH WITH CASH OVER
page 249
cash short is a debit, cash over is a credit
Blue
LESSON 9-3

9. This is NOT merchandise, so NOT Purchases
LESSON 9-4
5/21/2018
November 6. Bought store supplies on account from Gulf Craft Supply, $ Memorandum No. 52.
page 255
This is NOT merchandise, so NOT Purchases
We did not pay cash, so NOT Cash Payment M#
Blue
LESSON 9-4

10. Doesn’t fit in any other journal
November 28. Returned merchandise to Crown Distributing, $252.00, covering Purchase Invoice No. 80.
Debit Memorandum No. 78.
page 257
Doesn’t fit in any other journal
DM#
LESSON 9-4