The baking supplies were purchased on account and not paid for
on this date. This will look like your
entry for the purchase of baking supplies on July 1
13-Sep
Accounts payable
5,000.00
Cash
5,000.00
15-Sep
Salary and wages
expense
456.00
salary and wages payable
456.00
15-Sep
Rent expense
1,500.00
Cash
1,500.00
15-Sep
Cash (8 x $8.50)
68.00
Merchandise Sales Revenue
68.00
Cost of goods sold
48.00
Merchandise inventory
48.00
20-Sep
Salary and wages
payable
456.00
Cash
456.00
20-Sep
Merchandise Inventory
122.00
Cash
122.00
24-Sep
Cash 1(8 x $8.50)
153.00
Merchandise Sales Revenue
153.00
Cost of goods sold
109.80
Merchandise inventory
109.80
30-Sep
Merchandise inventory
151.25
Cash
151.25
30-Sep
Salary and wages
expense
480.00
salary and wages payable
480.00
30-Sep
Cash
19,000.00
Accounts receivable
6,000.00
Bakery Revenue
25,000.00
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