alize Materials Purchases The following are the transactions of Dolphin Company for the month of November 2021: Nov.4 :Purchase Requisition 100 for 9,600 units of MaterialA-44 is prepared by the storeroom clerk. The material is to be ordered from the Toddlers Corporation for P 21.50 per unit. Tems 1/10, n/30. 5 : Purchase order 148 is prepared for materials requisitioned on Requisition 100. 21 : Materials ordered from ToddlersCorporation on Purchase Order 148 are received. Of the 4,800 units, all are rejected for imperfections and retumed at once. Receiving Report 001 is prepared. The purchase invoice is included in the carton, 21 :A debit memorandum to the Toddlers Corporation for materials returned is prepared. : Materials received today from Toddlers Corporation are transferred to the storeroom and entered in the materials ledger. : Disbursement Voucher 014 to Toddlers Corporation is prepared for the amount owned on the firm's invoice. :A check to ToddlersCorporation for the amount due, less discount, is prepared and 21 24 25 mailed. Record in general journal for the transactions needing entries.
alize Materials Purchases The following are the transactions of Dolphin Company for the month of November 2021: Nov.4 :Purchase Requisition 100 for 9,600 units of MaterialA-44 is prepared by the storeroom clerk. The material is to be ordered from the Toddlers Corporation for P 21.50 per unit. Tems 1/10, n/30. 5 : Purchase order 148 is prepared for materials requisitioned on Requisition 100. 21 : Materials ordered from ToddlersCorporation on Purchase Order 148 are received. Of the 4,800 units, all are rejected for imperfections and retumed at once. Receiving Report 001 is prepared. The purchase invoice is included in the carton, 21 :A debit memorandum to the Toddlers Corporation for materials returned is prepared. : Materials received today from Toddlers Corporation are transferred to the storeroom and entered in the materials ledger. : Disbursement Voucher 014 to Toddlers Corporation is prepared for the amount owned on the firm's invoice. :A check to ToddlersCorporation for the amount due, less discount, is prepared and 21 24 25 mailed. Record in general journal for the transactions needing entries.
Chapter7: Budgeting
Section: Chapter Questions
Problem 12EB: Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the...
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