Question

Purchase-Related Transactions Using Perpetual Inventory System

The following selected transactions were completed by Capers Company during October of the current year:

Oct. 1.	Purchased merchandise from UK Imports Co., $15,347, terms FOB destination, n/30.
3.	Purchased merchandise from Hoagie Co., $9,900, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $235 was added to the invoice.
4.	Purchased merchandise from Taco Co., $13,150, terms FOB destination, 2/10, n/30.
6.	Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase on October 4.
13.	Paid Hoagie Co. for invoice of October 3.
14.	Paid Taco Co. for invoice of October 4, less debit memo of October 6 and discount.
19.	Purchased merchandise from Veggie Co., $24,650, terms FOB shipping point, n/eom.
19.	Paid freight of $410 on October 19 purchase from Veggie Co.
20.	Purchased merchandise from Caesar Salad Co., $20,800, terms FOB destination, 1/10, n/30.
30.	Paid Caesar Salad Co. for invoice of October 20.
31.	Paid UK Imports Co. for invoice of October 1.
31.	Paid Veggie Co. for invoice of October 19.

Required:

Journalize the entries to record the transactions of Capers Company for October.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Answer 1

Journal entries for the capers company for october month

Date	Particulars	Dr	CR
Oct 1	Purchase	15,347
	To Accounts Payable- UK Imports Co		15,347
Oct 3	Purchase	9,665
	Freight	235
	To Cash		235
	To Accounts Payable-Hoagie co.		9,665
Oct 4	Purchase	13,150
	To Accounts Payable-Tabo Co.		13,150
Oct 6	Accounts Payable-Tabo Co.	4,550
	To Purchase Return		4,550
Oct 13	Accounts Payable-Hoagie co	9,665
	To Cash		9,665
Oct 14	Accounts Payable-- Taco Co.	8,600
	To Cash		8,600
Oct 19	Purchase	24,650
	Accounts Payable-Veggie Co		24,650
Oct 19	Freight	410
	To Cash		410
Oct 20	Purchase	20,800
	To Accounts Payable-Caesar Salad Co		20,800
Oct 30	Accounts Payable-Caesar Salad Co	20,800
	To Cash		20,800
Oct 31	Accounts Payable-UK imports Co	15,347
	To Cash		15,347
Oct 31	Accounts Payable-Veggie Co	24,650
	To Cash		24,650