Country Ski Shop is a retail store that sells ski 1. 2019. The firm purchases pa
ID: 2333624 • Letter: C
Question
Country Ski Shop is a retail store that sells ski 1. 2019. The firm purchases payments on account during September 2019 follovw and dlothing. Big Country Ski Shop commenced business on September DATE TRANSACTIONS 2019 6672, terms n/30 3 Purchased skia tor s10,700 from Alaska Supplyc 7 Received Credit Memorandum 165 for $850 from Colorado Ski Shop for return of danaged ski boots: Y, Invoice 5916; terms 1/10, n/30 the boots were originally purchased September 2 on Invoice 6672 11 Purchased ski jackets for $3,500 from Cold Mountain Clothing Company, Invoice 4091. tens n/30 12 Issued Check 104 to Alaska Supply Company in payment of Invoice 5916, dated September 3. less the cash discount. 22 Purchased ski poles for $3, 260 plus a freight chazge of s195 fron Alaska Supply Company, Invoice 5950, terms 3/10, n/30. 23 Purchased sxi pants tor s1.750 tron Suenson ski Gooda, Invoice S28, cerne n/30. Ski Goods for return of defective ski 30 Tanued Check 110 to Colorado Ski Shop in payment of Iavoace 6672, dated return of September 7. Required: 1. Open the general ledger accounts and accounts payable ledger accounts indicated below Enter the baiance of Cash as of September 1 2019 2. Post the entries trom the general journal to the approoriate accounts in the general ledger and in the accounts payable ledger GENERAL LEDGER ACCOUNTSExplanation / Answer
$107
Journal Entry 02.09.2019 Purchases $5,100 Freight In $260 To Colorado Ski Shop $5,360 03.09.2019 Purchases $10,700 To Alaska Supply Company $10,700 07.09.2019 Colorado Ski Shop $850 To Purchases Returns and Allowance $850 11.09.2019 Purchases $3,500 To Cold Mountain Clothing Company $3,500 12.09.2019 Alaska Supply Company $10,700 To Purchases Discounts $107 To Cash $10,593 22.09.2019 Purchases $3,260 Freight In $195 To Alaska Supply Company $3,455 23.09.2019 Purchases $1,750 To Swenson Ski Goods $1,750 25.09.2019 Swenson Ski Goods $250 To Purchases Returns and Allowance $250 27.09.2019 Purchases $4,100 Freight In $175 To Colorado Ski Shop $4,275 30.09.2019 Colorado Ski Shop $4,510 To Cash $4,510