The following are transactions for Bill for the month of October. Indicate how the following transactions would be recorded by completing the necessary journal entries as appropriate (omit explanations). Also post to the General Journal, General Ledger, and Subsidiary Ledgers as appropriate.
Nov. 1 Bill invested $20,000 in his business.
Nov. 3 Sold $2,500 of merchandise on account to H. Baxter, sales invoice No. 1, terms 1/10, n/30.
Nov. 5 Sold $1,200 of merchandise on account to T. Toms, sales invoice No. 2, terms 1/10, n/30.
Nov. 13 Received cash from H. Baxter in payment for November 3 transaction, less the discount.
Nov. 14 Issued credit memorandum No. 1 to T. Toms for $100 for merchandise returned from
November 5 sale on account.
Nov. 15 Received cash from T. Toms for the amount due, less the discount.
GENERAL JOURNAL

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The Answer of The following are transactions for Bill for the month of October. Indicate how the following transactions would be recorded by completing the necessary journal entries as appropriate (omit explanations). Also post to the General Journal, General Ledger, and Subsidiary Ledgers as appropriate.
Nov. 1 Bill invested $20,000 in his business.
Nov. 3 Sold $2,500 of merchandise on account to H. Baxter, sales invoice No. 1, terms 1/10, n/30.
Nov. 5 Sold $1,200 of merchandise on account to T. Toms, sales invoice No. 2, terms 1/10, n/30.
Nov. 13 Received cash from H. Baxter in payment for November 3 transaction, less the discount.
Nov. 14 Issued credit memorandum No. 1 to T. Toms for $100 for merchandise returned from
November 5 sale on account.
Nov. 15 Received cash from T. Toms for the amount due, less the discount.
GENERAL JOURNAL

The Following Are Transactions for Bill for the Month of October