Please do not give solution in image format ? And Fast answering please and explain proper steps by Step. please need it asap and in the correct format thank youMaypole Industries Imports goods from Talwan and resells them to domestic Canadian markets. Maypole uses a perpetual Inventorysystem. A typical transaction stream follows:18 July24 August10 September22 NovemberRequired:1. Prepare Journal entries assuming that the revenue is recognised the following critical events: (If no entry is required for atransaction/event, select "No Journal entry required" in the first account field.)Purchased goods for $448,000.Goods repackaged and ready for sale. Cost incurred, $58,900.Goods delivered to customer. Agreed-on price, $699,000.Customer paid.Show Transcribed Text1-a. Delivery to customer.View transaction list1 Record the purchase of goods.2 Record the repackaging of good.3 Record the delivery of goods.4 Record the change in inventory.s Record the payment received.Notejournal entry has been enteredShow Transcribed Text1-b. Cash receipt.View transaction et1 Record the purchase of goods.2 Record the repackaging of good.3 Record the delivery of goods.4 Record the payment received.s Record the deferred gross margin.Note: journal entry has been enteredShow Transcribed Text1-c. Preparation of goods for resale.View transaction list1 Record the purchase of goods.2 Record the repackaging of good.3 Record the sale and change in inventory.4 Record the payment received.Note: journal entry has been enteredJ3ccXXXCreditCreditCredit

Journal entry recording is first step in accounting cycle process. Under this, atleast one account…

please need it asap and in the correct format thank you Maypole Industries Imports goods from Talwan and resells them to domestic Canadian markets. Maypole uses a perpetual Inventory system. A typical transaction stream follows: 18 July 24 Auber 10 22 November C Purchased goods for $448,000. Goods r Goods detaged and ready for sale. Cost incurred, $58,900. to customer. Agreed-on price, $699,000. Customer paid. Required: 1. Prepare journal entries assuming that the revenue is recognised the following critical events: (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.)

please need it asap and in the correct format thank you Maypole Industries Imports goods from Talwan and resells them to domestic Canadian markets. Maypole uses a perpetual Inventory system. A typical transaction stream follows: 18 July 24 Auber 10 22 November C Purchased goods for $448,000. Goods r Goods detaged and ready for sale. Cost incurred, $58,900. to customer. Agreed-on price, $699,000. Customer paid. Required: 1. Prepare journal entries assuming that the revenue is recognised the following critical events: (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.)

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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