Journal Entries Under the Perpetual Inventory System Bhushan Building Supplies entered into the following transactions. June 1 Purchased merchandise on account from Brij Builder’s Materials, $500,000. 3 Purchased merchandise for cash, $400,000. 5 Sold merchandise on account to Champa Construction for $20,000. The merchandise cost $15,000. Prepare journal entries under the perpetual inventory system. Page: 1 ROW NUMBER DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT ROW NUMBER 1 20--June 1 blank blank - Select - - Select - 1 2 blank blank blank - Select - - Select - 2 3 blank blank blank blank blank blank 3 4 June 3 blank blank - Select - - Select - 4 5 blank blank blank - Select - - Select - 5 6 blank blank blank blank blank blank 6 7 June 5 blank blank - Select - - Select - 7 8 blank blank blank - Select - - Select - 8 9 blank blank blank blank blank blank 9 10 June 5 blank blank - Select - - Select - 10 11 blank blank blank - Select - - Select - 11 12 blank blank blank blank blank blank 12
Journal Entries Under the Perpetual Inventory System Bhushan Building Supplies entered into the following transactions. June 1 Purchased merchandise on account from Brij Builder’s Materials, $500,000. 3 Purchased merchandise for cash, $400,000. 5 Sold merchandise on account to Champa Construction for $20,000. The merchandise cost $15,000. Prepare journal entries under the perpetual inventory system. Page: 1 ROW NUMBER DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT ROW NUMBER 1 20--June 1 blank blank - Select - - Select - 1 2 blank blank blank - Select - - Select - 2 3 blank blank blank blank blank blank 3 4 June 3 blank blank - Select - - Select - 4 5 blank blank blank - Select - - Select - 5 6 blank blank blank blank blank blank 6 7 June 5 blank blank - Select - - Select - 7 8 blank blank blank - Select - - Select - 8 9 blank blank blank blank blank blank 9 10 June 5 blank blank - Select - - Select - 10 11 blank blank blank - Select - - Select - 11 12 blank blank blank blank blank blank 12
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter14: Adjustments For A Merchandising Business
Section: Chapter Questions
Problem 9SEB: JOURNAL ENTRIES UNDER THE PERPETUAL INVENTORY SYSTEM Sunita Computer Supplies entered into the...
Related questions
Question
Bhushan Building Supplies entered into the following transactions.
June 1 | Purchased merchandise on account from Brij Builder’s Materials, $500,000. |
3 | Purchased merchandise for cash, $400,000. |
5 | Sold merchandise on account to Champa Construction for $20,000. The merchandise cost $15,000. |
Prepare journal entries under the perpetual inventory system.
Page: 1
ROW NUMBER | DATE | ACCOUNT TITLE | DOC. NO. |
POST. REF. |
DEBIT | CREDIT | ROW NUMBER |
---|---|---|---|---|---|---|---|
1 | 20-- June 1 |
|
blank | blank | - Select - | - Select - | 1 |
2 | blank |
|
blank | blank | - Select - | - Select - | 2 |
3 | blank | blank | blank | blank | blank | blank | 3 |
4 | June 3 |
|
blank | blank | - Select - | - Select - | 4 |
5 | blank |
|
blank | blank | - Select - | - Select - | 5 |
6 | blank | blank | blank | blank | blank | blank | 6 |
7 | June 5 |
|
blank | blank | - Select - | - Select - | 7 |
8 | blank |
|
blank | blank | - Select - | - Select - | 8 |
9 | blank | blank | blank | blank | blank | blank | 9 |
10 | June 5 |
|
blank | blank | - Select - | - Select - | 10 |
11 | blank |
|
blank | blank | - Select - | - Select - | 11 |
12 | blank | blank | blank | blank | blank | blank | 12 |
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