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Another "Birdy Birdhouse" problem but with different numbers and set up. Using the accounts listed below, review the following transactions for Birdy Birdhouses and record any required journal entries. Birdy Birdhouses uses the periodic inventory system: Accounts Payable Merchandise Inventory Sales Accounts Receivable Purchases Sales Discounts Cash Purchase Discounts Sales Returns and Allowances Cost of Goods Sold Purchase Returns and Allowances Sales Tax Payable PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). Sep. 6: Birdy Birdhouses purchases 57 birdhouses at $46 each with cash. DR     CR     Sep. 8: Birdy Birdhouses purchases 94 birdhouses at $44 each on credit. Terms of the purchase are 2/10, n/30, invoice date September 8. DR     CR     Sep. 10: Birdy discovers 12 of the birdhouses are damaged from the Sep. 6 purchase and returns them to the supplier for a full refund. DR     CR       Sep. 10: Birdy also discovers that 11 of the birdhouses from the Sep. 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $136. DR     CR       Sep. 18: Birdy pays their account in full from the September 8 purchase. DR     DR or CR?      CR

Another "Birdy Birdhouse" problem but with different numbers and set up. Using the accounts listed below, review the following transactions for Birdy Birdhouses and record any required journal entries. Birdy Birdhouses uses the periodic inventory system: Accounts Payable Merchandise Inventory Sales Accounts Receivable Purchases Sales Discounts Cash Purchase Discounts Sales Returns and Allowances Cost of Goods Sold Purchase Returns and Allowances Sales Tax Payable PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). Sep. 6: Birdy Birdhouses purchases 57 birdhouses at $46 each with cash. DR     CR     Sep. 8: Birdy Birdhouses purchases 94 birdhouses at $44 each on credit. Terms of the purchase are 2/10, n/30, invoice date September 8. DR     CR     Sep. 10: Birdy discovers 12 of the birdhouses are damaged from the Sep. 6 purchase and returns them to the supplier for a full refund. DR     CR       Sep. 10: Birdy also discovers that 11 of the birdhouses from the Sep. 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $136. DR     CR       Sep. 18: Birdy pays their account in full from the September 8 purchase. DR     DR or CR?      CR

FINANCIAL ACCOUNTING
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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Another "Birdy Birdhouse" problem but with different numbers and set up. Using the accounts listed below, review the following transactions for Birdy Birdhouses and record any required journal entries. Birdy Birdhouses uses the periodic inventory system:

Accounts Payable Merchandise Inventory Sales
Accounts Receivable Purchases Sales Discounts
Cash Purchase Discounts Sales Returns and Allowances
Cost of Goods Sold Purchase Returns and Allowances Sales Tax Payable

PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345).

  • Sep. 6: Birdy Birdhouses purchases 57 birdhouses at $46 each with cash.
    DR    
    CR    
  • Sep. 8: Birdy Birdhouses purchases 94 birdhouses at $44 each on credit. Terms of the purchase are 2/10, n/30, invoice date September 8.
    DR    
    CR    
  • Sep. 10: Birdy discovers 12 of the birdhouses are damaged from the Sep. 6 purchase and returns them to the supplier for a full refund.
    DR    
    CR    
  •  
  • Sep. 10: Birdy also discovers that 11 of the birdhouses from the Sep. 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $136.
    DR    
    CR    
  •  
  • Sep. 18: Birdy pays their account in full from the September 8 purchase.
    DR    
    DR or CR?     
    CR    
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