I need Auguest 18 and Auguest 29 please
- I Need Auguest 18 And Auguest 29 Please 1 (64.66 KiB) Viewed 10 times
- I Need Auguest 18 And Auguest 29 Please 2 (45.71 KiB) Viewed 10 times
- I Need Auguest 18 And Auguest 29 Please 3 (55.19 KiB) Viewed 10 times
Problem 4-2A (Static) Preparing journal entries for merchandising activities LO P1, P2 Prepare journal entries to record the following merchandising transactions of Lowe's, which uses the perpetual inventory system and the gross method, August 1 Purchared nerchandise from Aron
Company for $7.500 under credit teras of 1/10, n/30, FOB destination, invoice dated August August 5 Sold nerchandise to Baird Corporation for $5, 200 under credit terms of 2/10./60. FOB destination. invoice dated August 5. The merchandise had cost $4.000. August 8 Purchased serchandise from Waters Corporation for $5.400 under credit een of 1/10. 45, POB shipping point, invoice dated Augurt 8. August 9 Pead $125 cash for shipping charger related to the August 5 sale to Baird Corporation August 10 Baird returned serchandise from the August 5 sale that had cost Love $400 and was sold for $500. The serchandise vas restored to inventory. August 12 After negotiations with Vaters Corporation concerning problems with the purchases on August 3. Love received a price reduction from Waters of $400 off the 15.400 of goods purchased. Love debited accounts payable for $400. August 14 At Aron request. Love's paid $200 cash for freight charges on the August 1 purchase, reducing the amount owed (accounts payable) to Aron. August 15 Receaved balance due fron Baird Corporation for the August 5 sale less the return on August 20. August 18 Paid the amount due Vaters Corporation for the August 8 purchase lege the price allowance from August 12. August 19 Sold merchandise to Tux
Company for $4,800 under credit terns of /10, FOB shippine poant, anveide dated August 19. The nerchandise bad cost $2,400. price reduction on the August 19 sale because the merchandise did not weet specifications. Love cave (allowance) of 1500 to Tux and credited Tux accounts receivable for that amount. cash payment for the amount due con the August 19 sale less the price allowance gron August 22. purchase. August 22 Tux requested price reduction August 29 Received Tux August 30 Paid Aron
Company the amount due fron the August View transaction list
eBook Print References price reduction (allowance) of $500 to Tux and credited Tur's accounts receivable for that amount. August 29 Received Tux cash payment for the amount due from the August 19 sale less the price allowance from August 22. August 30 Paid Aron
Company the amount due from the Augurt I purchase. View transaction list Journal entry worksheet < 10 Note: Enter debits before credits. Date Aug 18 Record entry 11 Accounts payable-Waters Cash Merchandise Inventory Paid the amount due Waters Corporation for the August 8 purchase less the price allowance from August 12. General Journal 12 Clear entry 13 Debit 15 16 4.840 Credit 4,792 48 View general journal
Journal entry worksheet < .... 9 Note: Enter debits before credits. Date Aug 29 10 Cash Sales discounts 11 12 Received Tux's cash payment for the amount due from the August 19 sale less the price allowance from August 22. Record entry General Journal Accounts receivable-Tux 13 Clear entry 14 Debit 15 4,257 43 Credit 16 4,300 View general journal