im so confused, a little help for question 1 and 2
Im So Confused A Little Help For Question 1 And 2 1 (22.89 KiB) Viewed 11 times
Im So Confused A Little Help For Question 1 And 2 2 (34.08 KiB) Viewed 11 times
Chapter 4A (Purchase JEs-hi 2 45 park 40 H 4 QS 4-6 Recording purchases and discounts taken LO PI Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and perpetual inventory system Aug 1Purchased merchandise with an invoice price of $185,000 and credit terms of 1/16, 3 Aug. 11 Pald supplier the amounted from the August 1 purchase. Journal entry worksheet Purchased merchandise with an invoice price of $105,000 and credit terms of 2/10, 1/30 De De Aug 01 Recondary General Journal Dite Craf Vw general jou Help Seve & Exit Subm Check my work
45 1 QS 4-5 Recording purchases, returns, and discounts taken LO P1 Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual Inventory system and the gross method Nov. 5 Purchased 1,450 units of product at a cost of 140 per unit. Terms of the sale are 3/10, n/60; the invoice is dated November Nov. 7 Returned 30 defective units from the November 5 purchase and received full credit. Nov. 15 Paid the amount due from the November 5 purchase, minus the return on November 7. No 1 2 3 Date Nov 05 Nov 07 Nov 15 Answer is complete but not entirely correct. General Journal Merchandise inventory Accounts payable Accounts payable Merchandise inventory Accounts payable Merchandise inventory Cash 00 O Ⓒ 00 000 Dett 58,000 150 57 850 Credit 58,000 150 1.157 Ⓒ 56.000 Return to question
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