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	Reinforcement Problems
	LG   20-1.
	June 11       Purchases       15,000                  Accounts Payable           15,000               12       Purchases     9,000             Freight-in            200                   Accounts Payable         9,200               15       Accounts Payable       1,000                  Purchase Returns and Allowances         1,000               15       Office Supplies       2,000                  Accounts Payable         2,000               17       Purchases       5,000                  Accounts Payable         5,000               20       Accounts Payable       14,000                  Purchase Discounts         280                Cash         13,720           ($14,000 × .98 = 13,720)                 22       Accounts Payable       9,200                  Purchase Discounts         90                Cash         9,110           [($9,000 × .99) + $200 = $9,110]                 27       Accounts Payable       4,000                  Purchase Discounts         80                Cash         3,920           ($3,920/.98 = $4,000 invoice amount)                 29       Freight-in       150                  Cash         150

S2

Section III  ·  Merchandising Operations

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