Question

If you have multiple Debit and/or Credit entries, place them in the order of the Account #. For example if you are using account 20000, 23400 and 39003, you would do the 39003 as the first journal entry, 23400 on the second and then 20000 last.

Put them in order first for Debits and then for Credits. (ie, do not put all of the accounts in order.) First do the Debits in Account order and then start the order again for Credits.

Question 1

For the following transaction that was performed in Chapter 2, answer the following questions.

Invoice No. H788 was received from Office Supplies Plus for the purchase of five boxes of letter-size file folders, $10.95 each.

1. Date of Transaction is:  Use 00/00/00 format.

2. Journal used:  xxxxxxx journal

3. Journal Entry:

a. Debit - Account #:  , Account Name: and Amount of Entry:  (Use format $xx.xx)
b. Credit - Account #:  , Account Name: and Amount of Entry:  (Use format $xx.xx)

Question 2

For the following transaction that was performed in Chapter 2, answer the following questions.

Pay Office Supplies Plus for Invoice H788, $53.65

Date of Transaction is:  Use 00/00/00 format.

Journal used:  xxxxxxx journal

Journal Entry:

a. Debit - Account #:  , Account Name: and Amount of Entry:  (Use format $xx.xx)
b. Credit - Account #:  , Account Name: and Amount of Entry:  (Use format $xx.xx)
c. Credit - Account #:  , Account Name: and Amount of Entry:  (Use format $xx.xx)

Answer 1

Journal Book

Date	Particulars	LF	Debit	Credit
00/00/0000	Office Supplies Dr. [$10.95X 5]		54.75
	To Accounts Payable			54.75
	(Being Invoice No. H788 was received from Office Supplies Plus for the purchase of five boxes of letter-size file folders, $10.95 each.)
00/00/0000	Accounts Payable Dr.		54.75
	To Cash/Bank			53.65
	To Discount			1.10
	(Being Pay Office Supplies Plus for Invoice H788, $53.65)

Solution to the problems:

Question 1)

		Account	Account Name	Amount of Entry
a.	Debit	N/A	Office Expense	54.75
b.	Credit	N/A	Accounts Payable	54.75

Question 2)

		Account	Account Name	Amount of Entry
a.	Debit	N/A	Accounts Payable	54.75
b.	Credit	N/A	Cash/Bank	53.65
c.	Credit	N/A	Discount	1.10

Note: In the given question, account numbers have not been mentioned. Therefore, under the heading Account, N/A has been written.