5 4 Date 02/02/2024 Transaction Purchase 4 Advanced Agility sets from Odin Enterprises, terms net 30, for a wholesale price of $200.00 each to build 2 agility training courses indoors and 2 agility training courses outdoors in the leased facilities for onsite agility training services. Cy provides the labor to build out the agility training courses. Since the agility training sets purchased will eventually be sold to customers, record the items as Inventory. Enter as a Purchase Order. Then enter Bill and add Purchase Order to the Bill. a. What are the Accounts and Amounts Debited? Note: Answer this question in the table shown below. Round your answer to 2 decimal places. b. What are the Accounts and Amounts Credited? Note: Answer this question in the table shown below. Round your answer to 2 decimal places. Debit Credit Account Accounts Payable (A/P) Accounts Receivable (A/R) Inventory Asset Amount

5 4 Date 02/02/2024 Transaction Purchase 4 Advanced Agility sets from Odin Enterprises, terms net 30, for a wholesale price of $200.00 each to build 2 agility training courses indoors and 2 agility training courses outdoors in the leased facilities for onsite agility training services. Cy provides the labor to build out the agility training courses. Since the agility training sets purchased will eventually be sold to customers, record the items as Inventory. Enter as a Purchase Order. Then enter Bill and add Purchase Order to the Bill. a. What are the Accounts and Amounts Debited? Note: Answer this question in the table shown below. Round your answer to 2 decimal places. b. What are the Accounts and Amounts Credited? Note: Answer this question in the table shown below. Round your answer to 2 decimal places. Debit Credit Account Accounts Payable (A/P) Accounts Receivable (A/R) Inventory Asset Amount

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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