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

Step-by-step 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