Nolasco Company has the following selected transactions during March Mar 2 Nolasco Company has the..

 
   

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Nolasco Company has the following selected transactions during March Mar 2
Nolasco Company has the following selected transactions during March.

Mar. 2 Purchased equipment costing $9,400 from Brantly Company on account.

5 Received credit of $410 from Dumont Company for merchandise damaged in shipment to Nolasco.

7 Issued credit of $390 to Horst Company for merchandise the customer returned. The returned merchandise had a cost of $240.

Nolasco Company uses a one-column purchases journal, a sales journal, the columnar cash journals used in the text, and a general journal.

Instructions

(a) Journalize the transactions in the general journal.

(b) In a brief memo to the president of Nolasco Company, explain the postings to the control and subsidiary accounts from each type of journal.

Nolasco Company has the following selected transactions during March Mar 2