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ENG 1141: Session 13 Discussion Board Instructions - E... Instructions 13 14 8 15 23 6 24 28 30 5 v2.cengagenow.com My Home Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $730 added to the invoice. Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. Sold merchandise on account to Quinn Co., $15,010 with terms n/15. The cost of the merchandise sold was $10,190. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. Sold merchandise on VISA, $231,570. The cost of the merchandise sold was $142,060. Paid Papoose Creek Co. on account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co. Sold merchandise on account to Rabel Co., $54,800, terms 1/10, n/30. The cost of the merchandise sold was $33,850. Paid VISA service fee of $3,580. Paid Quinn Co. a cash refund of $1,730 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise. All work saved. C CengageNOWv2 | Onli Required: Journalize the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page i used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Email Instructo

ENG 1141: Session 13 Discussion Board Instructions - E... Instructions 13 14 8 15 23 6 24 28 30 5 v2.cengagenow.com My Home Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $730 added to the invoice. Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. Sold merchandise on account to Quinn Co., $15,010 with terms n/15. The cost of the merchandise sold was $10,190. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. Sold merchandise on VISA, $231,570. The cost of the merchandise sold was $142,060. Paid Papoose Creek Co. on account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co. Sold merchandise on account to Rabel Co., $54,800, terms 1/10, n/30. The cost of the merchandise sold was $33,850. Paid VISA service fee of $3,580. Paid Quinn Co. a cash refund of $1,730 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise. All work saved. C CengageNOWv2 | Onli Required: Journalize the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page i used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Email Instructo

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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Q ENG 1141: Session 13 Discussion Board Instructions - E... Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System Instructions Chart of Accounts Journal Instructions Nov. The following were selected from among the transactions completed by Harrison Company during November of the current year: 23 3 24 28 30 4 6 13 14 15 v2.cengagenow.com 5 My Home 8 Sold merchandise on account to Quinn Co., $15,010 with terms n/15. The cost of the merchandise sold was $10,190. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. Sold merchandise on VISA, $231,570. The cost of the merchandise sold was $142,060. Paid Papoose Creek Co. on account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co. Purchased merchandise on account from Moonlight Co., list price $89,000, trade discount 30%, terms FOB destination, 2/10, n/30. Sold merchandise for cash, $38,210. The cost of the merchandise sold was $20,810. Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $730 added to the invoice. Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. Ce ma C Sold merchandise on account to Rabel Co., $54,800, terms 1/10, n/30. The cost of the merchandise sold was $33,850. Paid VISA service fee of $3,580. Paid Quinn Co. a cash refund of $1,730 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise. All work saved. + C CengageNOW Email Instruct
Transcribed Image Text:Q ENG 1141: Session 13 Discussion Board Instructions - E... Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System Instructions Chart of Accounts Journal Instructions Nov. The following were selected from among the transactions completed by Harrison Company during November of the current year: 23 3 24 28 30 4 6 13 14 15 v2.cengagenow.com 5 My Home 8 Sold merchandise on account to Quinn Co., $15,010 with terms n/15. The cost of the merchandise sold was $10,190. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. Sold merchandise on VISA, $231,570. The cost of the merchandise sold was $142,060. Paid Papoose Creek Co. on account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co. Purchased merchandise on account from Moonlight Co., list price $89,000, trade discount 30%, terms FOB destination, 2/10, n/30. Sold merchandise for cash, $38,210. The cost of the merchandise sold was $20,810. Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $730 added to the invoice. Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. Ce ma C Sold merchandise on account to Rabel Co., $54,800, terms 1/10, n/30. The cost of the merchandise sold was $33,850. Paid VISA service fee of $3,580. Paid Quinn Co. a cash refund of $1,730 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise. All work saved. + C CengageNOW Email Instruct
ENG 1141: Session 13 Discussion Board Instructions - E... Instructions 13 14 8 15 23 6 24 28 5 30 v2.cengagenow.com Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $730 added to the invoice. My Home Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. Sold merchandise on account to Quinn Co., $15,010 with terms n/15. The cost of the merchandise sold was $10,190. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. Sold merchandise on VISA, $231,570. The cost of the merchandise sold was $142,060. Paid Papoose Creek Co. on account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co. Sold merchandise on account to Rabel Co., $54,800, terms 1/10, n/30. The cost of the merchandise sold was $33,850. Paid VISA service fee of $3,580. Paid Quinn Co. a cash refund of $1,730 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise. 5700 Required: Journalize the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. All work saved. C CengageNOWv2 | Onli E X Email Instructo
Transcribed Image Text:ENG 1141: Session 13 Discussion Board Instructions - E... Instructions 13 14 8 15 23 6 24 28 5 30 v2.cengagenow.com Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $730 added to the invoice. My Home Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. Sold merchandise on account to Quinn Co., $15,010 with terms n/15. The cost of the merchandise sold was $10,190. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. Sold merchandise on VISA, $231,570. The cost of the merchandise sold was $142,060. Paid Papoose Creek Co. on account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co. Sold merchandise on account to Rabel Co., $54,800, terms 1/10, n/30. The cost of the merchandise sold was $33,850. Paid VISA service fee of $3,580. Paid Quinn Co. a cash refund of $1,730 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise. 5700 Required: Journalize the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. All work saved. C CengageNOWv2 | Onli E X Email Instructo
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