ACC205:Week3: Discussion Topic 1: Purchases, Sales, and Inventory Items.

From chapter 5, complete E5-17 and E5-19 and post to the discussion board by day 3. Complete all parts of the problems and report back to the group the results of your analysis. Do not forget to show the necessary steps and explain how you attained that outcome. Respond to at least two of your classmates' postings.

Problem E5-17: Journalize, without explanations, the following transactions of Soul Art Gift Shop during the month of February: (pp. 256-264).

Date

Account Title

Debit

Credit

Feb. 3

Inventory

2,000

    Accounts Payable

2,000

Feb. 7

Accounts Payable

300

     Inventory

300

Feb. 9

Inventory

50

      Cash

50

Feb. 10

Accounts Receivable

3,100

       Sales Revenue

...