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Record the transactions for piedmont inc

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Reference no: EM133113962

Question - Piedmont Inc. has the following transactions for the month of July.

Jul. 1 Sold merchandise for $4,000 to Pinetop Inc. (account number PT152) and offered terms of 1/10, n/30, on July 1, invoice # 1101

Jul. 5 Sold merchandise to Sherwood Inc. (account number SH 224), Invoice # 1102 for $2,450 cash on July 5

Jul. 9 Sold merchandise, invoice #1103, to Cardinal Inc. (account number CA 118) for $5,000, and offered terms of 3/10, n/30

Jul. 9 Received payment from Pinetop Inc.

Jul. 22 Received payment from Cardinal Inc. after expiration of the discount period

Jul. 30 Received a refund check in the amount of $120 from the insurance company (credit Insurance Expense, account number 504)

Required -

A. Record the transactions for Piedmont Inc. in the proper special journal, and post them to the subsidiary ledger and general ledger account.

B. Record the same transactions using QuickBooks, and print the special journals and subsidiary and general ledger. Your solution done manually should match your solution using QuickBooks.

Reference no: EM133113962

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