Izzy Trading Transaction Entries Special Journals SOLUTIONS
Izzy Trading Transaction Entries Special Journals SOLUTIONS
Izzy Trading Transaction Entries Special Journals SOLUTIONS
INVOICE #
DATE ACCOUNT (CUSTOMER) PR Terms
TOTAL
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Accounts
Sales
Receivable Output
Dr. Cr. Tax (Cr)
100,800.00 90,000.00 10,800.00
120,960.00 108,000.00 12,960.00
89,600.00 80,000.00 9,600.00
67,200.00 60,000.00 7,200.00
0.00
PURCHASE JOURNAL
DATE ACCOUNT PR INVOICE # Terms Purchases
(Payee) Dr.
Dec. 05 Hyzel Trading SL-AP 1324 2/10, n/30 60,000.00
Dec. 12 Nicanor Trading SL-AP 8988 2/10, n/30 60,000.00
Dec. 25 Hyzel Trading SL-AP 1398 2/10, n/30 50,000.00
TOTAL 170,000.00
(501)
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Input Tax Accounts Payable
Dr. Cr.
7,200.00 67,200.00
7,200.00 67,200.00
6,000.00 56,000.00
20,400.00 190,400.00
(109) (201)
CASH RECEIPTS JOURNAL
DATE ACCOUNT COLLECTION Dr. Dr.
PR RECEIPT # Cash Sales Discount
Dec. 03 Princess Trading 0001 28,000.00
Dec. 12 Angel Trading 402 0002 96,588.80 1,760.00
Dec. 17 Yvone Trading 402 0003 115,248.00 2,100.00
Dec. 27 Angel Trading 402 0004 85,612.80 1,560.00
TOTAL 129,920.00
(201)
Total Debit
Total Credit
Dr. Dr. Cr. Cr.
Purchases Input VAT Cash Purchase Discount
15,000.00
10,000.00
8,000.00
15,000.00
8,000.00
2,000.00
1,000.00
1,800.00
1,500.00
40,000.00 4,800.00 44,800.00
1,000.00
(136.80) 62,563.20 1,140.00
25,000.00
1,000.00
(141.60) 64,758.40 1,180.00
34,000.00
303,741.60
303,741.60
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Freight - In 1,000.00
129,300.00 6,000.00