The company paid cash to Lyn Addie for five days’ work at the rate of $175 per day. Four of the five days relate to wages payable that were accrued in the prior year.
Adria Lopez invested an additional $23,100 cash in the company in exchange for more common stock.
The company purchased $7,200 of merchandise from Kansas Corp. with terms of 1/10, n/30, FOB shipping point, invoice dated January 7.
The company received $2,748 cash from Gomez Co. as full payment on its account.
The company completed a five-day project for Alex’s Engineering Co. and billed it $5,470, which is the total price of $6,850 less the advance payment of $1,380.
The company sold merchandise with a retail value of $4,000 and a cost of $3,480 to Liu Corp., invoice dated January 13.
The company paid $640 cash for freight charges on the merchandise purchased on January 7.
The company received $4,060 cash from Delta Co. for computer services provided.
The company paid Kansas Corp. for the invoice dated January 7, net of the discount.
Liu Corp. returned $700 of defective merchandise from its invoice dated January 13. The returned merchandise, which had a $270 cost, is discarded. (The policy of Success Systems is to leave the cost of defective products in cost of goods sold.)
The company received the balance due from Liu Corp., net of both the discount and the credit for the returned merchandise.
The company returned defective merchandise to Kansas Corp. and accepted a credit against future purchases. The defective merchandise invoice cost, net of the discount, was $486.
The company purchased $9,900 of merchandise from Kansas Corp. with terms of 1/10, n/30, FOB destination, invoice dated January 26.
The company sold merchandise with a $4,550 cost for $5,900 on credit to KC, Inc., invoice dated January 26.
The company received a $486 credit memorandum from Kansas Corp. concerning the merchandise returned on January 24.
The company paid cash to Lyn Addie for 10 days’ work at $175 per day.
The company paid $2,745 cash to Hillside Mall for another three months’ rent in advance.
The company paid Kansas Corp. for the balance due, net of the cash discount, less the $486 amount in the credit memorandum.
The company paid $580 cash to the local newspaper for an advertising insert in today’s paper.
The company received the balance due from Alex’s Engineering Co. for fees billed on January 11.
The company paid $4,630 cash for dividends.
The company sold merchandise with a $2,480 cost for $3,340 on credit to Delta Co., invoice dated February 23.
The company paid cash to Lyn Addie for eight days’ work at $175 per day.
The company reimbursed Adria Lopez for business automobile mileage (800 miles at $0.21 per mile).
The company purchased $2,880 of computer supplies from Harris Office Products on credit, invoice dated March 8.
The company received the balance due from Delta Co. for merchandise sold on February 23.
The company paid $910 cash for minor repairs to the company’s computer.
The company received $5,370 cash from Dream, Inc., for computing services provided.
The company paid the full amount due to Harris Office Products, consisting of amounts created on December 15 (of $1,210) and March 8.
The company billed Easy Leasing for $9,227 of computing services provided.
The company sold merchandise with a $2,102 cost for $2,830 on credit to Wildcat Services, invoice dated March 25.
The company sold merchandise with a $1,158 cost for $2,400 on credit to IFM Company, invoice dated March 30.
The company reimbursed Adria Lopez for business automobile mileage (300 miles at $0.21 per mile).
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