As the accountant of Trina’s Natural Food Store, (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts...

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As the accountant of Trina’s Natural Food Store, (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, be sure to put in the following balances: Antion Co., $450; Block Co., $500; Midden Co., $1,150; Rex Co., $250; Merchandise Inventory, $18,000; Accounts Payable, $2,350. Use the perpetual inventory method.
Answered Same DayApr 20, 2021

Answer To: As the accountant of Trina’s Natural Food Store, (1) journalize the following transactions into the...

Khushboo answered on Apr 21 2021
147 Votes
Solution 1
Journal entry to record the transactions
    Date
    Particulars
    Amount ($)
    Amount ($)

    
    
    
    
    Oct,8
    Merchandise inventory
    650
    
    
    Accounts payable -Antion Co.
    
    650
    
    (To record purchase of inventory, invoice no 400)
    
    
    
    
    
    
    Oct, 10
    Merchandise inventory
    1,250
    
    
    Accounts payable -Block Co.
    
    1,250
    
    (To record purchase of inventory, invoice no 420)
    
    
    
    
    
    
    Oct, 12
    Store Supplies
    700
    
    
    Accounts payable -Midden Co.
    
    700
    
    (To record sale invoice...
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