1 1 2 3 Record the cost of the sale, $3,600. eBook Hint Note: Enter debits before credits. Print Transaction General Journal Debit Credit ferences 2-b. Cost of goods sold Merchandise inventory
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Record the cost of the sale, $3,600.
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General Journal
Debit
Credit
ferences
2-b.
Cost of goods sold
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- Journalize the following merchandise transactions. The company uses the perpetual inventory system. a. Sold merchandise on account, $14,000 with terms 2/10, net 30. The cost of the goods sold was $9,100. If an amount box does not require an entry, leave it blank. b. Received payment within the discount period. If an amount box does not require an entry, leave it blank.Sales Transactions Journalize the following merchandise transactions: a. Sold merchandise on account, $14,850 with terms 2/10, n/30. The cost of the merchandise sold was $8,910. Sale Cost b. Received payment less the discount. C. Issued a credit memo for returned merchandise that was sold for $10,700 terms n/30. The cost of the merchandise returned was $6,420. Refund InventorySales-related transactions Sayers Co. sold merchandise on account to a customer for $86,000 terms 1/10, n/30. The cost of the goods sold was $66,000. a. Journalize Sayers' entries to record the sale, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it bla b. Journalize the receipt of payment within the discount period. If an amount box does not require an entry, leave it blank. c. Journalize the entry to record the receipt of payment beyond the discount period of 10 days. If an amount box does not require an entry, leave it blank. Previous Next Check My Work All work saved. Email Instructor Save and Exit Submit Assignment for Gr APR étv
- p. Using the perpetual inventory system, journalize the entries for the following selected transactions: i. Sold merchandise to customers who used MasterCard and VISA, $9,500. The cost of the merchandise sold was $5,300. ii. Paid an invoice from First National Bank for $385, representing a service fee for processing MasterCard and VISA sales. Date Description Post. Debit Credit Ref. 90269-1Question Help v 7. Hampton Computers has the following transactions in April related to purchase of merchandise inventory. A (Click the icon to view the transactions.) Journalize the purchase transactions for Hampton Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Apr. 1: Purchase of $25,000 More Info - X Date Apr. 1 April 1 Purchase of $25,000 worth of computers on account, term of 1/10, n /60. 3 Return of $2,500 of the computers to the vendor. 9 Payment made on account. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All Check Answer This course (BA2223section4) is based on Nobles/Mattison: Horngren's Accounting, 11e Global Edition ch EN A Q) acerPurchase-Related Transactions The Stationery Company purchased merchandise on account from a supplier for $17,400, terms 1/10, n/30. The Stationery Company returned merchandise with an invoice amount of $2,300 and received full credit. a. If The Stationery Company pays the invoice within the discount period, what is the amount of cash required for the payment? b. Under a perpetual inventory system, what account is credited by The Stationery Company to record the return?
- Sales Transactions Journalize the following merchandise transactions: a. Sold merchandise on account, $23,950 with terms 2/10, n/30. The cost of the merchandise sold was $14,370. If an amount box does not require an entry, leave it blank. Sale Accounts Receivable Sales Cost Cost of Merchandise Sold Merchandise Inventory b. Received payment less the discount. If an amount box does not require an entry, leave it blank. Cash Accounts Receivable c. Issued a $1,100 credit memo for damaged merchandise. The customer agreed to keep the merchandise. If an amount box does not require an entry, leave it blank. Customer Refunds Payable Accounts ReceivableNow record the cost of the putters sold on the 6th. Date Nov. 6 Accounts and Explanation Cost of Goods Sold Merchandise Inventory To record the cost of goods sold. Debit CreditSales transaction Journalize the following merchandise transaction using the net method under a perpetual inventory system. A . Sold merchandise on account $18,000 with terms 1/10, and/30. Because of the goods sold was $10,800. If an amount box does not require an entry leave it blank. B. Received payment less the discount. If an amount box does not require an entry, Leave it blank. See. Refunded $600 to customer for defective merchandise that was not returned. If an amount box does not require an entry, leave it blank.
- Journalize the following merchandise transactions. The company uses the perpetual inventory system. a. Sold merchandise on account, $14,900 with terms 2/10, net 30. The cost of the goods sold was $9,685. If an amount box does not require an entry, leave it blank. b. Received payment within the discount period. If an amount box does not require an entry, leave it blank.7 Morgan, Incorporated uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $19,600 was made on credit, 3/10, n/30. The journal entry to record this purchase is: Multiple Choice Account Title Debit Credit Merchandise Inventory 19,600 Accounts Payable 19,600 Account Title Debit Credit Purchases 19,600a. Chapters 1-7 G Traducir antaFe iriclars Sotems TB MC Qu. 6-137 Using a perpetual inventory system, how... Using a perpetual Iventory system, how should a company record the sale of Inventory costing $550 for $1,170 on account? 1. InventorY 550 Cost oE GOods Sold 550 Sales Revenue 1,170 Accounts Receivable 1,170 2. Accounts Receivable 1,170 Sales Revenue 1,170 Cost of Goods Sold 550 Inventory 550 550 3. Inventory 620 Gain 1,170 Sales Revenue 1,170 Accounts Receivable 550 Sales Revenues 620 Gain Multiple Choice Ne
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