Carla Vista Company buys merchandise on account from Tamarisk Company. The selling price of the goods is $1,230 and the cost of the goods sold is $710. Both companies use perpetual inventory systems.Journalize the transactions on the books of both companies. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Carla Vista Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Tamarisk Enter an account title to record sale of merchandise Enter a debit amount Enter a credit amount Enter an account title to record sale of merchandise Enter a debit amount Enter a credit amount (To record sale of merchandise) Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount
Carla Vista Company buys merchandise on account from Tamarisk Company. The selling price of the goods is $1,230 and the cost of the goods sold is $710. Both companies use perpetual inventory systems.Journalize the transactions on the books of both companies. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Carla Vista Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Tamarisk Enter an account title to record sale of merchandise Enter a debit amount Enter a credit amount Enter an account title to record sale of merchandise Enter a debit amount Enter a credit amount (To record sale of merchandise) Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Carla Vista Company buys merchandise on account from Tamarisk Company. The selling price of the goods is $1,230 and the cost of the goods sold is $710. Both companies use perpetual inventory systems.
Journalize the transactions on the books of both companies. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
|
Account Titles and Explanation
|
Debit
|
Credit
|
|---|---|---|
|
Carla Vista
|
||
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
|
Tamarisk
|
||
|
Enter an account title to record sale of merchandise
|
Enter a debit amount
|
Enter a credit amount
|
|
Enter an account title to record sale of merchandise
|
Enter a debit amount
|
Enter a credit amount
|
|
(To record sale of merchandise)
|
||
|
Enter an account title
|
Enter a debit amount
|
Enter a credit amount
|
|
Enter an account title
|
Enter a debit amount
|
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