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ools Help trilreturnU rl=https\" (110% ? search apter 8 Saved Help Sa Problem 8.5A Posting purchases and cash payment transactions.L O 8-3, 8-4, 8-5 NewTech Medical Devices is a medical devices wholesaler that commenced business on June 1, 2019. New Tech Med purchases merchandise for cash and on open purchasing and cash payment activities: account.In June 2019, NewTech Medical Devices engaged in the follow DATE TRANSACTIONS 2019 June 1 Issued Check 101 to parchase merchandise, $2,700. 3 Purchased merchandise for 82,100 trom BicCenter Inc., Invoice 606: term 3/10, n/30, Purchased merchandise tor 4,050, plus Ereight charge of s100, rom Paid anount due to BioCenter Ine. for purchase of June 3, less discount 10 Received Czedit Memorandum 227 from New Concepts Corporatsos for danaged seu concepts Corporation, Invoice 1011, terms 2/10, n/30 Check 102 merchandsae totaling 8350 that was returneds the goods veze purchased orn Invoice 1012, dated June 5 1 Purchazed merchandise to 81,500 from BioCenter Ino., Tnvoice 612 14 Faid anount due to New Concepta Corporation foz Isvoice 1021 of June s 2/10, n/30 lesa the retarn of Tune 10 and leaa the cash dssccant, check 103. 15 Purehased merchandsse with 11et price oE $7.400 and tzade discoants of earch 0

Solution

Answer 1. Journal Entry Date Particulars Dr. Amt. Cr. Amt. 1-Jun-19 Purchases      2,700.00    Cash      2,700.00 (To record purchase) 3-Jun-19 Purchases      2,100.00    Accounts Payable - BioCenter Inc..      2,100.00 (To record purchase wide Invoice No. 606) 5-Jun-19 Purchases      4,050.00 Freight-in          100.00    Accounts Payable - New Concepts Corporation      4,150.00 (To record purchase wide Invoice No. 1011) 9-Jun-19 Accounts Payable - BioCenter Inc..      2,100.00    Cash ($10,800 X 97%)      2,037.00    Purchases Discount ($10,800 x 3%)            63.00 (to record the cash paid) 10-Jun-19 Accounts Payable - New Concepts Corporation          350.00    Purchase return & Allowances          350.00 (To record the credit Note 227 for defective goods returned) 11-Jun-19 Purchases      1,500.00    Accounts Payable - BioCenter Inc..      1,500.00 (To record purchase wide Invoice No. 612) 14-Jun-19 Accounts Payable - New Concepts Corporation      3,800.00    Cash ($3,800 X 98%)      3,724.00    Purcahses Discount ($3,800 x 2%)            76.00 (to record the cash paid) 15-Jun-19 Purchases      7,400.00    Accounts Payable - Park Research      7,400.00 (To record purchase) 20-Jun-19 Purchases      1,200.00    Cash      1,200.00 (To record purchase) 25-Jun-19 Cash          260.00    Purchase return & Allowances          260.00 (To record the credit Note for defective goods returned) 30-Jun-19 Purchases      1,400.00 Freight-in Not showing    Accounts Payable - New Concepts Corporation      1,400.00 (To record purchase wide Invoice No. 1080) Freight In - figure is not readable in the question attached Answer 2. Cash Accounts Payable Purchases Date Dr. Amt. Cr. Amt. Balance Date Dr. Amt. Cr. Amt. Balance Date Dr. Amt. Cr. Amt. Balance 01-Jun-19    35,600.00 Dr. 3-Jun-19      2,100.00      2,100.00 Cr. 1-Jun-19      2,700.00        2,700.00 Dr. 1-Jun-19      2,700.00    32,900.00 Dr. 5-Jun-19      4,150.00      6,250.00 Cr. 3-Jun-19      2,100.00        4,800.00 Dr. 9-Jun-19      2,037.00    30,863.00 Dr. 9-Jun-19      2,100.00      4,150.00 Cr. 5-Jun-19      4,050.00        8,850.00 Dr. 14-Jun-19      3,724.00    27,139.00 Dr. 10-Jun-19          350.00      3,800.00 Cr. 11-Jun-19      1,500.00      10,350.00 Dr. 20-Jun-19      1,200.00    25,939.00 Dr. 11-Jun-19      1,500.00      5,300.00 Cr. 15-Jun-19      7,400.00      17,750.00 Dr. 25-Jun-19          260.00    26,199.00 Dr. 14-Jun-19      3,800.00      1,500.00 Cr. 20-Jun-19      1,200.00      18,950.00 Dr. 15-Jun-19      7,400.00      8,900.00 Cr. 30-Jun-19      1,400.00      20,350.00 Dr. 30-Jun-19      1,400.00    10,300.00 Cr. Freight In Purchases Return and Allowances Purchases Discounts Date Dr. Amt. Cr. Amt. Balance Date Dr. Amt. Cr. Amt. Balance Date Dr. Amt. Cr. Amt. Balance 5-Jun-19          100.00          100.00 Dr. 10-Jun-19          350.00          350.00 Cr. 9-Jun-19          63.00              63.00 Cr. 30-Jun-19                   -            100.00 Dr. 25-Jun-19          260.00          610.00 Cr. 14-Jun-19          76.00            139.00 Cr. BioCenter Inc Terms: 2/10, n/30 New Concepts Corporation Terms: 2/10, n/30 Park Research Terms: n/30 Date Dr. Amt. Cr. Amt. Balance Date Dr. Amt. Cr. Amt. Balance Date Dr. Amt. Cr. Amt. Balance 3-Jun-19      2,100.00      2,100.00 Cr. 5-Jun-19      4,150.00      4,150.00 Cr. 15-Jun-19    7,400.00        7,400.00 Cr. 9-Jun-19      2,100.00                   -   Cr. 10-Jun-19          350.00      3,800.00 Cr. 11-Jun-19      1,500.00      1,500.00 Cr. 14-Jun-19      3,800.00                   -   Cr. 30-Jun-19      1,400.00      1,400.00 Cr. Answer 3. NEWTECH MEDICAL DEVICES Schedule of Accounts Payable Jun 30, 2019 BioCenter Inc      1,500.00 New Concepts Corporation      1,400.00 Park research      7,400.00 Total    10,300.00