Prepare the journal entries to record the following transactions on Carla Vista Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O 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 entries.) (a) (b) (c) On March 2, Carla Vista Company sold $931,800 of merchandise to Tamarisk Company on account, terms 2/10, n/30. The cost of the merchandise sold was $565.700. On March 6, Tamarisk Company returned $119,500 of the merchandise purchased on March 2. The cost of the merchandise returned was $63,600. On March 12, Carla Vista Company received the balance due from Tamarisk Company. Date 11 Account Titles and Explanation (To record sale of merchandise on account) (To record cost of goods sold) (To record return of merchandise) (To record cost of goods returned) Debit 111000 Credit

Prepare the journal entries to record the following transactions on Carla Vista Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O 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 entries.) (a) (b) (c) On March 2, Carla Vista Company sold $931,800 of merchandise to Tamarisk Company on account, terms 2/10, n/30. The cost of the merchandise sold was $565.700. On March 6, Tamarisk Company returned $119,500 of the merchandise purchased on March 2. The cost of the merchandise returned was $63,600. On March 12, Carla Vista Company received the balance due from Tamarisk Company. Date 11 Account Titles and Explanation (To record sale of merchandise on account) (To record cost of goods sold) (To record return of merchandise) (To record cost of goods returned) Debit 111000 Credit

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Description: Prepare the journal entries to record the following transactions on Carla Vista Company's books using a perpetual inventory system.(If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles

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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