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Posted: **Wed Jul 06, 2022 6:01 am**

: 36 Nts 01 27 50 Ac Raw Im Tb Problem 6 195 Algo Two Different Companies Two Different Companies Vogel Corporation 1 (43.29 KiB) Viewed 13 times

: 36 Nts 01 27 50 Ac Raw Im Tb Problem 6 195 Algo Two Different Companies Two Different Companies Vogel Corporation 2 (31.35 KiB) Viewed 13 times

: 36 Nts 01 27 50 Ac Raw Im Tb Problem 6 195 Algo Two Different Companies Two Different Companies Vogel Corporation 3 (33.55 KiB) Viewed 13 times

: 36 Nts 01 27 50 Ac Raw Im Tb Problem 6 195 Algo Two Different Companies Two Different Companies Vogel Corporation 4 (41.27 KiB) Viewed 13 times

: 36 Nts 01 27 50 Ac Raw Im Tb Problem 6 195 Algo Two Different Companies Two Different Companies Vogel Corporation 5 (38.49 KiB) Viewed 13 times

: 36 Nts 01 27 50 Ac Raw Im Tb Problem 6 195 Algo Two Different Companies Two Different Companies Vogel Corporation 6 (40.25 KiB) Viewed 13 times

36 nts 01:27:50 Ac raw im TB Problem 6-195 (Algo) Two different companies,... Two different companies, Vogel Corporation and Hatcher Corporation, entered into the following inventory transactions during December. Both companies use a perpetual inventory system using the gross method of recording sales discounts. • December 3- Vogel Corporation sold inventory on account to Hatcher Corporation for $497,000, terms 1/10, n/30. This inventory originally cost Vogel $309,000. December 8-Hatcher Corporation returned inventory to Vogel Corporation for a credit of $4,100. Vogel returned this inventory to inventory at its original cost of $2,549. December 12-Hatcher Corporation paid Vogel Corporation for the amount owed. Required: a. Prepare the journal entries to record these transactions on the books of Vogel Corporation. b. What is the amount of net sales to be reported on Vogel Corporation's income statement? c. What is the Vogel Corporation's gross profit percentage? Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the journal entries to record these transactions on the books of Vogel Corporation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Saved Journal entry worksheet 2 5 Record the entry for sale of inventory on account. Help
Journal entry worksheet < 1 2 Date December 03 3 Note: Enter debits before credits. Record the entry for sale of inventory on account. Record entry 4 5 General Journal Clear entry Required A Debit Credit View general Journal Required B >
< 1 entry 2 旬 Date December 03 3 Record the entry for cost of inventory sold on account. Note: Enter debits before credits. Record entry 4 5 General Journal Clear entry Required A Debit Credit View general journal Required B >
:18 Journal entry worksheet < 1 2 Record the entry for return of inventory sold on account. Note: Enter debits before credits. Date December 08 5 Record entry General Journal Clear entry < Required A Debit Credit View general journal Required B > >
7:07 Journal entry worksheet < 1 2 3 Record the entry for the cost of inventory returned. Note: Enter debits before credits. Date December 08 Record entry 5 General Journal Clear entry < Required A Debit Credit View general journal Required B > >
Journal entry worksheet < 1 2 3 4 Record the entry for the receipt of payment on account. Note: Enter debits before credits. Date December 12 Record entry General Journal Clear entry Required A Debit Credit View general journal Required B >