Lighting fitness equipment ~ 800 coco drive, coconut grove, fl

Lighting fitness equipment ~ 800 coco drive, coconut grove, fl

Lighting  Fitness 

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

$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

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

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.

© 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.

Memorandum No.      114

 

check           for

 

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

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.

 

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