Available Options Are:Accounts Payable - FristAccounts Payable - LyonAccounts Receivable - FristAccounts Receivable - Lyon Accumulated DepreciationAdditional Paid-In CapitalBond PremiumBonds PayableBuildingCashCommon StockCost of Goods SoldDepreciation ExpenseDiscount on bonds payableDividends DeclaredFinance CostsGoodwillIntrerest ExpenseInterest IncomeIntrerest PayableInterest ReceivableLandMerchandise InventoryMicellaneous ExpenseOther ExpensesSales 2 Purchased $5,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, andFOB shipping point.3 Paid $330 cash for shipping charges on the April 2 purchase.4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $650.17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.18 Purchased $10,500 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, andFOB destination.Apr.21 After negotiations, received from Frist a $500 allowance toward the $10,500 owed on the April 18 purchase.28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.View transaction listJournal entry worksheet12345 6 7>Purchased $5,600 of merchandise from Lyon Company with credit terms of2/15, n/60, invoice dated April 2, and FOB shipping point.Note: Enter debits before credits.DateGeneral JournalDebitCreditApr 02Record entryClear entryView general journal

Name: Available Options Are:Accounts Payable - FristAccounts Payable - LyonA
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Description: Available Options Are:Accounts Payable - FristAccounts Payable - LyonAccounts Receivable - FristAccounts Receivable - Lyon Accumulated DepreciationAdditional Paid-In CapitalBond PremiumBonds PayableBuildingCashCommon StockCost of Goods SoldDepreciati

Answered: 2 Purchased $5,600 of merchandise from…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Available Options Are:

Accounts Payable - Frist

Accounts Payable - Lyon

Accounts Receivable - Frist

Accounts Receivable - Lyon

Accumulated Depreciation

Additional Paid-In Capital

Bond Premium

Bonds Payable

Building

Cash

Common Stock

Cost of Goods Sold

Depreciation Expense

Discount on bonds payable

Dividends Declared

Finance Costs

Goodwill

Intrerest Expense

Interest Income

Intrerest Payable

Interest Receivable

Land

Merchandise Inventory

Micellaneous Expense

Other Expenses

Sales

2 Purchased $5,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and
FOB shipping point.
3 Paid $330 cash for shipping charges on the April 2 purchase.
4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $650.
17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.
18 Purchased $10,500 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and
FOB destination.
Apr.
21 After negotiations, received from Frist a $500 allowance toward the $10,500 owed on the April 18 purchase.
28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
View transaction list
Journal entry worksheet
1
2
3
4
5 6 7
>
Purchased $5,600 of merchandise from Lyon Company with credit terms of
2/15, n/60, invoice dated April 2, and FOB shipping point.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Apr 02
Record entry
Clear entry
View general journal

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