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ACG 2021E Spg2022 E Homework: C5A4 Question 1, P5-42B (book/sta Part 11 of 19 Journalize the following transactions that occurred in January 2018 for Sylvia's Amusements, assuming the perpetual inventory system ist vendor or customer name. Sylvia estimates sales returns at the end of each month (Record debits first, then credits. Exclude explanations Click the icon to view the transactions.) Date Jan 4Purchased merchandise inventory on account from Vanderbilt Company, $7,000. Terms 1/10, n/EOM, FOB shipping point. Accounts Debit Credit Merchandise Inventory 7,000 Accounts Payablo—Vanderbilt Company 7,000 Jan. 4 Jan. 6: Paid freight bill of $100 on January 4 purchase. Dato Accounts Jan. 6 Merchandise Inventory Cash Debit Credit 100 100 Jan. 8: Returned half of the inventory purchased on January 4 from Vanderbilt Company. Date Accounts Debit Jan. 8 Accounts Payable-- Vanderbilt Company 3,500 Merchandise Inventory Credit 3,500 Help me solve this Demodocs eyamnla L.
stem is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the anations from journal entries. Assume the company records sales at the net amount.) More info Jan. 6 Jan. 11 Jan. 12 Purchased merchandise inventory on account from Vanderbilt Company, $7,000 Jan. 4 Terms 1/10,n/EOM, FOB shipping point Paid freight bill of $100 on January 4 purchase. Jan. 8 Returned half of the inventory purchased on January 4 from Vanderbilt Company, Sold merchandise inventory for cash, $1,600. Cost of goods, $640. FOB Jan. 10 destination. Sold merchandise inventory to Graceland Corporation, $10,800, on account, terms 1/10,n/EOM. Cost of goods, $5,400. FOB shipping point. Paid freight bill of $60 on January 10 sale. Sold merchandise inventory to Cabbell Company, $9,500 on account, terms of Jan. 13 n/45. Cost of goods, $5,225. FOB shipping point Jan. 14 Paid the amount owed on account from Anuary 4, less return and discount. Received defective inventory as a sales return from the January 13 sale, $600. Jan. 17 Cost of goods, $300. Purchased inventory of $4,600 on account from Roberts Corporation. Payment Jan. 18 terms were 3/10, n/30, FOB destination. Jan. 20 Received cash from Graceland Corporation, less discount. Paid amount owed on account from January 18, less discount Jan. 28 Received cash from Cabbell Company, less return. Purchased inventory from Sandra Corporation for cash $11,600. FOB shipping Jan. 29 point. Freight in paid to shipping company, $240. Jan. 26 Print Done
Journalize the following transactions that occurred in January 2018 for Sylvia's Amusements, assuming the perpetual inventory system is bell vendor or customer name. Sylvia estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from Click the icon to view the transactions.) Jan. 10: Sold merchandise inventory for cash, $1,600. Cost of goods, $640. FOB destination Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that Debit Credit Date Accounts Cash 1,600 Jan. 10 1,600 Sales Revenue Cadit Now journalize the expense related to the January 10 sale--Cost of goods, $640. Date Accounts Debit 640 Jan 10 Cost of Goods Sold Merchandise inventory 640 Jan. 11: Sold merchandise inventory to Graceland Corporation, $10,800, on account. Terms 1/10, NEOM. Cost of goods, $5,400. FOB sh Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do thay Date Accounts Credit Accounts Receivable-Graceland Corporation 10,692 Sales Revenue 10,692 Debit Jan. 11 Help me solve this Demodocs example Get more help
Question 1, Part 11 of Homework: C5A4 Journalize the following transactions that occurred in January 2018 for Sylvia's Amusements, assuming the perpetual invente vendor or customer name. Sylvia estimates sales returns at the end of each month. (Record debits first, then credits. Exclud Click the icon to view the transactions.) Debit Credit Date Accounts 5,400 Jan. 11 Cost of Goods Sold Merchandise Inventory 5,400 Jan 12: Paid freight bill of $60 on January 10 sale. Date Accounts Debit Credit Jan. 12 Delivery Expense 60 Cash 60 Jan. 13: Sold merchandise inventory to Cabbell Company for $9,500 on account, terms of n/45. Cost of goods. $5,225. FO Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale Date Accounts Debit Credit Accounts Receivable-Cabbell Company 9,500 Sales Revenue 9,500 Jan. 13 Now journalize the expense related to the January 13 sale--Cost of goods. $5.225. Help me solve this Demodocs example Get more help
Jan. 13: Sold me Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related Accounts Debit Date Credit 9,500 Jan. 13 Accounts Receivable-Cabbell Company Sales Revenue 9,500 Now journalize the expense' related to the January 13 sale--Cost of goods, $5,225. Date Accounts Debit Credit Jan. 13 5,225 Cost of Goods Sold Merchandise Inventory 5,225 Jan. 14: Paid the amount owed on account from January 4, less return and discount. Date Accounts Debit Credit Jan. 14 Help me solve this Demodocs example Get more help