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On June 10, Splish Brothers Company purchased $6,700 of merchandise from Sunland Company, on account, terms 2/10, n/30. Splish Brothers p 380 on June 11. Goods totaling $700 are returned to Sunland for credit on June 12. On June 19, Splish Brothers Company pays Sunland Compan discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Splish Brothers Compan select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do no journal entries in the order presented in the problem. List all debit entries before credit Prepare separate entries for each transaction for Sunland C purchased by Splish Brothers on June 10 cost Sunland $2,870, and the goods returned cost Sunland $240. (If no entry is required, select "No entr and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entri

On June 10, Splish Brothers Company purchased $6,700 of merchandise from Sunland Company, on account, terms 2/10, n/30. Splish Brothers p 380 on June 11. Goods totaling $700 are returned to Sunland for credit on June 12. On June 19, Splish Brothers Company pays Sunland Compan discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Splish Brothers Compan select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do no journal entries in the order presented in the problem. List all debit entries before credit Prepare separate entries for each transaction for Sunland C purchased by Splish Brothers on June 10 cost Sunland $2,870, and the goods returned cost Sunland $240. (If no entry is required, select "No entr and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entri

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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am. 116.

On June 10, Splish Brothers Company purchased $6,700 of merchandise from Sunland Company, on account, terms 2/10, n/30. Splish Brothers pays the freight costs of $ 380 on June 11. Goods totaling $700 are returned to Sunland for credit on June 12. On June 19, Splish Brothers Company pays Sunland Company in full, less the purchase discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Splish Brothers Company. (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. Record journal entries in the order presented in the problem. List all debit entries before credit Prepare separate entries for each transaction for Sunland Company. The merchandise purchased by Splish Brothers on June 10 cost Sunland $2,870, and the goods returned cost Sunland $240. (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. Record journal entries in the order presented in the problem. List all debit entries before credit eentries.)
Transcribed Image Text:On June 10, Splish Brothers Company purchased $6,700 of merchandise from Sunland Company, on account, terms 2/10, n/30. Splish Brothers pays the freight costs of $ 380 on June 11. Goods totaling $700 are returned to Sunland for credit on June 12. On June 19, Splish Brothers Company pays Sunland Company in full, less the purchase discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Splish Brothers Company. (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. Record journal entries in the order presented in the problem. List all debit entries before credit Prepare separate entries for each transaction for Sunland Company. The merchandise purchased by Splish Brothers on June 10 cost Sunland $2,870, and the goods returned cost Sunland $240. (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. Record journal entries in the order presented in the problem. List all debit entries before credit eentries.)
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