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Annette’s Photo Shop is a retail store that sells cameras and photography supplies. Annette’s Photo Shop began operations April 1, 2019. The firm purchases its merchandise for cash and on open account. During April, Annette’s Photo Shop engaged in the following transactions: DATE TRANSACTIONS 2019 April 1 Purchased camera film on credit from Camera & Film Products, Invoice 825, $1,015, terms n/30; freight of $21 prepaid by Camera & Film Products and added to the invoice (total amount due, $1,036). 3 Purchased lenses on credit for $860 from Vision Supplies, Inc., Invoice 998, terms n/30. 11 Purchased DVD camcorders on credit for $5,700 from Optical Products, Invoice 4101, terms n/30. 15 Recorded various purchases of merchandise for cash from April 1 to April 15, $2,600. 26 Purchased lighting equipment on credit from Myers Brothers Camera Supplies, Invoice 9288, $6,500, terms n/30; freight of $228 prepaid by Myers Brothers Camera Supplies and added to the invoice (total amount due, $6,728). 27 Issued Check 102 for $590 to Vision Supplies, Inc., in partial payment of Invoice 998 dated April 3. 30 Recorded various purchases of merchandise for cash from April 16 to April 30, $3,070. 30 Issued Check 103 to Camera & Film Products in payment of the total amount due on Invoice 825 dated April 1. INSTRUCTIONS 1. Open the general ledger accounts indicated below. Enter the balance of cash as of April 1, 2019. 2. Record the transactions in a general journal. Use 1 as the journal page number. 3. Post the entries from the general journal to the appropriate general ledger accounts. GENERAL LEDGER ACCOUNTS 101 Cash, $11,000 Dr. 205 Accounts Payable 501 Purchases 502 Freight In Analyze: What were the total cash payments on account during April? View Solution:Annette s Photo Shop is a retail store that sells cameras”Do you need a similar assignment done for you from scratch? We have qualified writers to help you with a guaranteed plagiarism-free A+ quality paper.
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