don't give answer in image format On June 10, Tamarisk Company purchased $6,800 of merchandise from Carla Vista Company, on account, terms 4/10, n/30.Tamarisk pays the freight costs of $430 on June 11. Goods totaling $300 are returned to Carla Vista for credit on June 12. OnJune 19, Tamarisk Company pays Carla Vista Company in full, less the purchase discount. Both companies use a perpetualinventory system. Prepare separate entries for each transaction for Carla Vista Company. The merchandise purchased by Tamarisk on June10 cost Carla Vista $2,700, and the goods returned cost Carla Vista $230. (If no entry is required, select "No entry" for theaccount titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indentmanually. Record journal entries in the order presented in the problem.)Account Titles and ExplanationDateV(To record credit sale)(To record cost of goods sold)(To record credit sale)(To record cost of goods returned)DebitCredit

JOURNAL ENTRIESJournal Entry is the First stage of Accounting Process. Journal Entry is the Process…

On June 10, Tamarisk Company purchased $6,800 of merchandise from Carla Vista Company, on account, terms 4/10, n/30. Tamarisk pays the freight costs of $430 on June 11. Goods totaling $300 are returned to Carla Vista for credit on June 12. On June 19, Tamarisk Company pays Carla Vista Company in full, less the purchase discount. Both companies use a perpetual inventory system.

On June 10, Tamarisk Company purchased $6,800 of merchandise from Carla Vista Company, on account, terms 4/10, n/30. Tamarisk pays the freight costs of $430 on June 11. Goods totaling $300 are returned to Carla Vista for credit on June 12. On June 19, Tamarisk Company pays Carla Vista Company in full, less the purchase discount. Both companies use a perpetual inventory system.

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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