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ID: 2567287 • Letter: S
Question
Secure | https// ss, place your bookmarks here on the bookmarkes bar. Import bookmarks now. Help Bowden Company (buyer) and Song, Inc. (seller), engaged in the following transactions during January 2019 Bowden Company DATE TRANSACTION'S 2019 an. 8 Issued Check 211 for $2,352 on account to Song, Inc., in payment of Invoice 1885 dated December 3e, 2018, less cash discount of $48. 2/10, n30 totaling $200 that was returned; the goods were purchased on Invoice 18 Purchased merchandise for $1,780 from Song, Inc., Invoice 1920; terms 15 Received Credit Hemor andun 320 from Song, Inc., for damaged nerchandise 19 Paid amount due to Song, Inc., for Invoice 1928 of January 1e, less the 38 Purchased merchandise for $3,600 from Song, Inc., Invoice 1950; terms 1920, dated January 1e return of January 15 and less the cash discount, Check 2130 2/18, n/30. GENERAL LEDGER ACCOUNTS-BOWDEN COMPANY 201 Accounts Payable. $2.400 Cr ACCOUNTS PAYABLE LEDGER ACCOUNT-BOWDEN COMPANY Song. Inc, $2.400 Song, Inc. DATE TRANSACTIONS 2019 2an. 8 Received paysent of $2,352 onaccount fron Bowden Company in payment of ,700 on account to Bouden Company, Invoice 1920, for damaged merchandise invoice 1885 dated December 30, 2018, less cash discount of $48 terms 2/10, n/30 totaling s2e0 that was returned; the goods vere purchased on Ievoice 10 sold merchandise for s1, 15 Issued Credit Hemorandun 320 to Bowden Company f 1e. 1920, dated January 18 less the return of January 15 and less the cash discount n/30 0, 19 Received payment from Bouden Company for invoice 1920 of anuary 1 30 Sold merchandise for $3,600 to Bouden Company, Invoice 1950; terns 2/30 GENERAL LEDGER ACCOUNTS-SONG, INC.Explanation / Answer
1. Bowden Journal
2. Song Journal
3. Bowden Ledgers
4. Song Ledgers
5. Analyze
Balance of accounts payable for Song, Inc. in Bowden Company accounts payable subsidiary ledger: $3600 Cr.
Balance of accounts receivable for Bowden Company in Song, Inc. accounts receivable subsidiary ledger: $3600 Dr.
Date General Journal Debit Credit Jan. 08, 2019 Accounts payable-Song Inc. 2400 Purchase discount 48 Cash 2352 (To record payment on account) Jan. 10, 2019 Purchases 1700 Accounts payable-Song Inc. 1700 (To record merchandise purchased on account) Jan. 15, 2019 Accounts payable-Song Inc. 200 Purchase returns 200 (To record credit memorandum received) Jan. 19, 2019 Accounts payable-Song Inc. 1500 Purchase discount [2% x ($1700 - $200)] 30 Cash 1470 (To record payment on account) Jan. 30, 2019 Purchases 3600 Accounts payable-Song Inc. 3600 (To record merchandise purchased on account)