Journalize the following merchandise 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 Journal : Mar. 1 Sold merchandise on account, $76.550 with terms 2/10, n/30. The cost of the merchandise sold was $44.950 Received payment less the discount. Issued a $2.400 credit memo for damaged merchandise. The customer agreed to keep the merchandise. Journalize the merchandise 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 2 3 9 13 DATE DESCRIPTION JOURNAL POST. REF. DEBIT CREDIT PAGE 10 ACCOUNTING EQUATION ASSETS LIABILITIES EQUITY

Journalize the following merchandise 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 Journal : Mar. 1 Sold merchandise on account, $76.550 with terms 2/10, n/30. The cost of the merchandise sold was $44.950 Received payment less the discount. Issued a $2.400 credit memo for damaged merchandise. The customer agreed to keep the merchandise. Journalize the merchandise 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 2 3 9 13 DATE DESCRIPTION JOURNAL POST. REF. DEBIT CREDIT PAGE 10 ACCOUNTING EQUATION ASSETS LIABILITIES EQUITY

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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Record the following transactions in general journal form for Ford Education Outfitters and Romero Textbooks, Inc. Ford Educational Outfitters bought merchandise on account from Romero Textbooks, Inc., invoice no. 10594, $1,888.13; terms net 30 days; FOB destination. Romero Textbooks, Inc., paid $90.31 for shipping. Ford Education Outfitters received credit memo no. 513A from Romero Textbooks, Inc., for merchandise returned, $149.93. Required: 1. For Ford Education Outfitters. Round your answers to the nearest cent. GENERAL JOURNAL PAGE DATE DESCRIPTION DOC. NO. POST. REF. DEBIT CREDIT (a) Purchased merchandise from Romero Textbooks, Inc., invoice no. 10594, terms n/30. (b) Credit memo no. 513A for return of merchandise. 2. For Romero Textbooks, Inc. Round your answers to the nearest cent.…
answer in text form please (without image), Note: .Every entry should have narration please
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