Answer Happy

Sheridan Company uses special journals and a general journal. The following transactions occurred during September 2022. Sold merchandise on account to H. Drew, invoice no. 101, $695, terms /30. The cost of the merchandise sold was $375. Sept. 2 10 12 21 Purchased merchandise on account from A. Pagan $570, terms 2/10,n/30. Purchased office equipment on account from R. Cairo $6,200. Sold merchandise on account to G. Holliday, invoice no. 102 for $815, terms 2/10,1/30. The cost of the merchandise sold was $465 Purchased merchandise on account from D. Downs $860, terms 1/30. Sold merchandise to 5. Miller for $730 cash. The cost of the merchandise sold was $355. 25 27 (a) Prepare a sales journal and record the transactions for September that should be journalized. (Record entries in the order presented in the problem statement.) SHERIDAN COMPANY Sales Journal si Account Debited Invoice No. Date Ref. Accounts Receivable Dr. Sales Revenue Cr. Cost of Goods Sold Dr. Inventory Cr. 2022 C
Prepare a single-column purchases journal and record the transactions for September that should be journalized. (Record entries in the order presented in the problem statement.) SHERIDAN COMPANY Purchases Journal P1 Date Account Credited Inventory Dr. Accounts Payable Cr. Terms Ref. 2022 V