3 of 2 Required information [The following information applies to the questions displayed below.] Littleton Books has th

[answerhappygod]

3 Of 2 Required Information The Following Information Applies To The Questions Displayed Below Littleton Books Has Th 1 (37.73 KiB) Viewed 11 times

3 Of 2 Required Information The Following Information Applies To The Questions Displayed Below Littleton Books Has Th 2 (35.32 KiB) Viewed 11 times

3 Of 2 Required Information The Following Information Applies To The Questions Displayed Below Littleton Books Has Th 3 (30.96 KiB) Viewed 11 times

3 Of 2 Required Information The Following Information Applies To The Questions Displayed Below Littleton Books Has Th 4 (30.31 KiB) Viewed 11 times

3 Of 2 Required Information The Following Information Applies To The Questions Displayed Below Littleton Books Has Th 5 (30.89 KiB) Viewed 11 times

3 of 2 Required information [The following information applies to the questions displayed below.] Littleton Books has the following transactions during May. May 2 Purchases books on account from Readers Wholesale for $3,700, terms 2/10, n/38. May 3 Pays cash for freight costs of $240 on books purchased from Readers. 1 May 5 Returns books May 10 Pays the full May 30 Sells all books purchased on May 2 (less those returned on May 5) for $4,400 on account. Required: 1. Record the transactions of Littleton Books, assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No 2 3 Date May 02 with a cost of $350 to Readers because part of the order is incorrect. amount due to Readers. May 03 May 05 Inventory Accounts Payable Inventory Cash Accounts Payable Inventory Answer is not complete. General Journal ›› O ✪ ›› 00 Debit 3,700 240 350 Credit 3,700 240 350 3
No 1 2 3 4 5 6 Date May 02 May 03 May 05 May 10 May 30 May 30 Inventory Accounts Payable Inventory Cash Accounts Payable Inventory Accounts Payable Inventory Cash Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Answer is not complete. General Journal 33 ›› >> 000 00 O 00 • Debit 3,700 240 350 3,350 S Credit 3,700 240 350 110 x 3,240
View transaction list Journal entry worksheet < Note: Enter debits before credits. Date May 10 Record payment of the full amount due to Readers. 4 Accounts Payable Inventory Cash Record entry General Journal 6 Clear entry Debit 3,350 Credit 110 3,240 View general journal
Journal entry worksheet < 1 2 3 Record the sale of inventory on account. Note: Enter debits before credits. Date May 30 Accounts Receivable Sales Revenue Record entry General Journal Clear entry 6 Debit Credit View general journal
Journal entry worksheet < 1 2 3 Record cost of inventory sold. Note: Enter debits before credits. Date May 30 Cost of Goods Sold Inventory Record entry 5 General Journal Clear entry Debit Credit View general journal