Selected transactions for Capers Company during October of the current year are listed in Problem 6-1A.

Selected transactions for Capers Company during October of the current year are listed in Problem 6-1A.

Instructions

Journalize the entries to record the transactions of Capers Company for October using the periodic inventory system.

Answer:

Oct. 1 Purchases14,448

Accounts Payable—UK Imports Co.14,448

3 Purchases9,950

Freight In220

Accounts Payable—Hoagie Co.10,170

4 Purchases13,650

Accounts Payable—Taco Co.13,650

6 Accounts Payable—Taco Co. 4,550

Purchases Returns and Allowances4,550

13 Accounts Payable—Hoagie Co. 10,170

Cash9,971

Purchases Discounts ($9,950 × 2%) 199

14 Accounts Payable—Taco Co. 9,100

Cash8,918

Purchases Discounts182

19 Purchases27,300

Accounts Payable—Veggie Co.27,300

19 Freight In400

Cash400

20 Purchases22,000

Accounts Payable—Caesar Salad Co. 22,000

30 Accounts Payable—Caesar Salad Co. 22,000

Cash21,780

Purchases Discounts220

31 Accounts Payable—UK Imports Co. 14,448

Cash14,448

31 Accounts Payable—Veggie Co. 27,300

Cash27,300