Lighting Fitness Equipment ~ 800 Coco Drive, Coconut Grove, FL 33133
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Lighting Fitness
~. EquiplHent i ~
800 Coco Drive, Coconut Grove, FL 33133
NARRATIVE OF TRANSACTIONS
Record the following transactions in the appropriate joumals.
Purchased ·merchandise
account
Issued Check No. 2204 for $14,000.00
to Iker Enterprises in payment of its
$18,260.00. Terms are nJ30.
March 28 (no discount).
Sold merchandise on account, Invoice
Received a
check for
$6,174.00 from
Connections,
Gyms in payment of our invoice of
$5,850.00. The Cost of Merchandise
March 28 for $6,300.00, less discount.
Sold is $3,744.00.
Sold merchandise on account, Invoice
Credit terms for all sales on account
303, to Ultra Fitoess Boxing Gym
Lighting
$30,109.50. The Cost of Merchandise
Equipment uses a pelpetual invento/)'
$19,270.08
system and therefore records the cost
merchandise sold as well as the sale.
account
from Sports A-Z Depot, $51,650.00.
Issued Check No. 2201 for $14,268.80to A + Flex Fitness Center in payment
Terms are nJ30. EO.B. Shipping Point.
of March
$14,560.00,. less a 2% discount.
$26,600.00. The Cost of Merchandise
Sol<l is $17,024.00.
Received a check for $14,406.00 from
Extreme Fitoess Club in payment of
Reminder: Record the following sep-
deposits
$14,700.00, less discount.
register: the $26,600.00 of cash sales
and the total of the checks received as
Issued Check No.
2202 for
$6,720.00
payments on account this week.
to Harvey Insurance Company as a
prepayment of insurance
month policy.
Received a check for $8,232.00 from
Ultra Fitness Boxing Gym in payment
invoice of March
Issued Check No.
2203 for
$46,480.00
$8,400.00, less discount.
to Fitoess Network in payment of its
March 27 (no discount).
account
from Fit &Health Products, $5,360.00,
Sold merchandise on account, Invoice
terms 211 0, nJ30.
302, to
Centers for $12,162.50. The Cost of
Merchandise Sold is $7,784.00.
Sold merchandise on account, Invoice
No. 304, to SF Gyms, $24,462.50. The
Merchandise
Received a check from Ana's Gym in
$15,656.00.
the Grove for $12,348.00 in payment
invoice of March
$12,600.00, less discount.
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole orin part
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Received a check for $10,976.00 from
Reminder: Record the following sep-
Miami Beach Fitness Club in payment
deposits
checkbook
of our
of March
register: the $36,120.00 of cash sales
$11,200.00, less discount.
and the total of the checks received as
Purchased the following on account
payments on account this week.
from Fitness Network: display (charge
Received a
check for $29,507.31 from
Supplies),
$2,100.00;
Ultra Fitness Boxing Gym in payment
merchandise,
$9,600.00.
ofInvoice No. 303
$30,109.50,
$11,700.00. Terms are n130.
discount.
Issued Credit Memorandum No. 107 to
Purchased
following
SF Gyms for merchandise returned on
account from A+ Flex Fitness Center:
Invoice No. 304 of April 8, $937.50.
merchandise
inventory,
$9,180.00;
The Cost of Merchandise
miscellaneous selling expense (display
$600.00.
$575.00;
supplies
Issued Check No. 2205 for
Jordi Puyol for customer entertainment
(promotion
$10,005.00. Terms are n130.
Miscellaneous
merchandise on account, Invoice
Expense).
Connections,
Sold merchandise on account, Invoice
No. 305, to Gables Gym, $15,237.50.
$6,117.50. The Cost of Merchandise
Sold is $3,915.20.
The Cost of Merchandise
Issued Check No. 2207 for
$4,200.00
$9,752.00.
for personal use.
Received
Memorandum
Issued Check No. 2208 for
$441.00
432 from Fit & Health Products for
US. Health &Fitness Magazine for an
merchandise returned, $840.00.
advertisement.
Received a check for $300.00 from
Purchased
merchaudise
account
SupplyMax Supply for return of store
from Sports A-Z Depot, $17,800.00.
supplies that were originally purchased
Terms are n130.
Shipping
for cash.
Issued Check No. 2209 for $4,429.60
Received a check for $5,733.00 from
to Fit &Health Products in payment of
Miami Connections in payment of
the net amount of its invoice of
Invoice No. 301
for $5,850.00, less
for $5,360.00, less the return of April
discount.
$840.00,
less discount.
Received a check for $11 ,919.25 from
Issued Check No. 2210 for
$53,200.00
Day &
to Lucas Distributors in payment of its
payment of Invoice
invoice of March 21, no discount.
$12,162.50, less discount.
Issued Check No. 2211 for $185.00 to
Issued Check No. 2206 for $13,000.00
Sunshine Gazette for an advertisement
to Payroll for biweekly salaries: sales
in the April 15 edition.
salaries, $8,000.00;
$5,000.00.
salaries,
Received a check for $23,054.50 from
SF Gyms in payment of Invoice No.
304 for $24,462.50, less the rehlrn of
$36,120.00. The Cost of Merchandise
April 9 for $937.50, less discount.
Sold is $23,116.80.
© 2014 Cengage Leaming. All Rights Reserved. May not be sCimned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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Memorandum No. 108 to
Sold merchandise on account, Invoice
Miami Connections for
merchandise
No. 308, to Ana's Gym in the Grove,
re-turned
our April
16 invoice,
$9,262.50. The Cost of Merchandise
$600.00. The
of Merchandise
Sold is $5,928.00.
Sold is $384.00.
No. 2214 for
$13,000.00
Received a
check for $14,932.75 from
for biweekly salaries: sales
Gables Gym in payment of Invoice No.
salaries,
$8,000.00; office
salaries,
305 for $15,237.50, less discount.
$5,000.00.
No. 2212 for
$231.00 to
Sold merchandise on account, Invoice
Jordi Puyol for customer entertainment
No. 309, to
Extreme Fitness
Miscellaneous
$4,125.00. The Cost of Merchandise
Expense).
$2,640.00.
Purchased
the following
account
2215 to
Fitness Network:
merchandise,
Water Supply Department for
$340.00
$5,280.00; store
supplies,
$250.00.
in payment of the water bill for the
Total, $5,530.00; tenns are 2110, n/30.
Miscellaneous
15-20 were
Administrative Expense).
$27,020.00. The Cost of Merchandise
No. 2216 for
$5,419.40
Sold is $17,292.80.
to Fitness Network in payment of its
Reminder: Record the following sep-
checkbook
discount.
received
register: the $27,020.00 of cash sales
No. 2217 for
$2,500.00
and the total of the checks received as
to Jordi Puyol for personal use.
payments on account this week.
29 Issued Check No. 2218 to Florida Tele-
Purchased
merchandise
account
phone for $612.00 in payment of the
Enterprises,
$3,400.00.
telephone bill for the month (charge
Terms are, n/30.
$204.00 to Miscellaneous Administra-
Purchased
merchandise
Network,
account
$10,800.00.
tive Expense and $408.00 to Miscella-
neous Selling Expense).
Terms are 2110, n/30.
No. 2219 to MIA Gas &
Sold merchandise on account,
Night Fitness
Centers for $16,156.25. The Cost of
Merchandise Sold is $10,340.00.
Electric for $360.00 in payment of the
gas and electric bill for the month
Miscellaneous
Administrative Expense).
Purchased
from Spotts A-Z Depot,
Terms are n/30.
account
$2,400.00.
30 Issued Check No. 2220 for $700.00 to
South Miami Bank in payment of
interest on a note payable for April.
No. 2213 for
Miami Cleaning Services for cleaning
Miscellaneous
Administrative Expense).
Received a
Blue Water Enterprises in payment of a
$3,000.00 note receivable plus $60.00
interest earned.
Received
from iker Enterprises for merchandise
returned, $400.00.
22-30 were
$28,280.00. The Cost of Merchandise
Sold is $18,099.20.
C 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly aceessibJe website, in whole or in part.
deposits
checkbook
payments on account this week.
register: the $28,280.00 of cash sales
Note: After all the transactions are recorded in the appropriate journals,
continue with the instructions on page 2 of Booklet l.
11 years ago
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journal_-_lighting_fitness_equipment.xlsx
