Presented below are transactions related to Tamarisk, Inc.. 1 2 3. (a) (b) On December 3, Tamarisk, Inc. sold $670,800 of merchandise on account to Culver Co., terms 3/10, n/30, FOB shipping point. The cost of the merchandise sold was $373,300. On December 8, Culver Co. was granted an allowance of $29,200 for merchandise purchased on December 3. On December 13, Tamarisk, Inc. received the balance due from Culver Co. Assume that Tamarisk, Inc. received the balance due from Culver Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Date Jan. 2 Debit

Presented below are transactions related to Tamarisk, Inc.. 1 2 3. (a) (b) On December 3, Tamarisk, Inc. sold $670,800 of merchandise on account to Culver Co., terms 3/10, n/30, FOB shipping point. The cost of the merchandise sold was $373,300. On December 8, Culver Co. was granted an allowance of $29,200 for merchandise purchased on December 3. On December 13, Tamarisk, Inc. received the balance due from Culver Co. Assume that Tamarisk, Inc. received the balance due from Culver Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Date Jan. 2 Debit

Name: Sd Presented below are transactions related to Tamarisk, Inc...1.23.(a
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Description: Sd Presented below are transactions related to Tamarisk, Inc...1.23.(a)(b)On December 3, Tamarisk, Inc. sold $670,800 of merchandise on account to Culver Co., terms 3/10, n/30, FOBshipping point. The cost of the merchandise sold was $373,300.On Decem

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 8E: Toby Company had the following sales transactions for March: Mar. 6Sold merchandise on account to...

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Toby Company had the following sales transactions for March: Mar. 6Sold merchandise on account to Osbourne, Inc., invoice no. 1128, 563.17. 14Sold merchandise on account to Ortiz Company, invoice no. 1129, 823.50. 20Sold merchandise on account to Bailey Corporation, invoice no. 1130, 2,350.98. 24Sold merchandise on account to Shannon Corporation, invoice no. 1131, 1,547.07. Assume that Toby Company had beginning balances on March 1 of 3,569.80 (Sales 411) and 2,450.39 (Accounts Receivable 113). Record the sales of merchandise on account in the sales journal (page 24) and then post to the general ledger.
Presented below are transactions related to Splish Brothers Inc.. 1. On December 3, Splish Brothers Inc. sold $586,700 of merchandise on account to Sheffield Co., terms 4/10, n/30, FOB shipping point. The cost of the merchandise sold was $391,300. 2. On December 8, Sheffield Co. was granted an allowance of $28,000 for merchandise purchased on December 3. 3. On December 13, Splish Brothers Inc. received the balance due from Sheffield Co. Prepare the journal entries to record these transactions on the books of Splish Brothers Inc. using a perpetual inventory system.
The following transactions are for Kingbird Company. 1. On December 3, Kingbird Company sold $521,300 of merchandise to Blossom Co., on account, terms 3/10, n/30. The cost of the merchandise sold was $313,500. 2. On December 8, Blossom Co. was granted an allowance of $23,400 for merchandise purchased on December 3. 3. On December 13, Kingbird Company received the balance due from Blossom Co. (a)Prepare the journal entries to record these transactions on the books of Kingbird. Kingbird uses a perpetual inventory system. (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.) No. Date Account Titles and Explanation Debit Credit 1. Choose a transaction date for number 1 Dec. 3Dec. 8Dec. 13Jan. 2 Enter an account title for journal entry 1 to record credit…
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The following transactions are for Windsor Company. 1. On December 3, Windsor Company sold $475,800 of merchandise to Wildhorse Co., on account, terms 2/10, n/30. The cost of the merchandise sold was $326,400. 2. On December 8, Wildhorse Co. was granted an allowance of $22,200 for merchandise purchased on December 3. 3. On December 13, Windsor Company received the balance due from Wildhorse Co. (a) Prepare the journal entries to record these transactions on the books of Windsor. Windsor uses 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) No. Date 1 く Account Titles and Explanation (To record sale of merchandise on account) 2. (To record cost of merchandise sold on account) 3. く Debit Credit (b) Assume that Windsor Company received the balance due from Wildhorse Co. on January 2 of the following year instead of…
Presented below are transactions related to Star Company. On June 4, Star Company sold OMR670,000 of merchandise to Ahmed Co., terms 2/10, n/30, FOB shipping point. The cost of the merchandise sold was OMR450,000. On June 9, Ahmed Co. was granted an allowance of OMR30,000 for merchandise purchased on June 4. On June 14, Star Company received the balance due from Ahmed Co. Instructions: Prepare the journal entries to record these transactions on Star Company’ records. using a perpetual inventory system. Assume that Star Company received the balance due from Ahmed Co. on July 2 of the following year instead of June 14. Prepare the journal entry to record the receipt of payment on July 2.
The following transactions are for Skysong Company. 1. On December 3, Skysong Company sold $513,500 of merchandise to Sheridan Co., on account, terms 3/10, n/30. The cost of the merchandise sold was $318,300. 2. On December 8, Sheridan Co. was granted an allowance of $24,700 for merchandise purchased on December 3. 3. On December 13, Skysong Company received the balance due from Sheridan Co. (a)Prepare the journal entries to record these transactions on the books of Skysong. Skysong uses a perpetual inventory system. (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.) No. Date Account Titles and Explanation Debit Credit 1. Choose a transaction date for number 1 Dec. 3Dec. 8Dec. 13Jan. 2 Enter an account title for journal entry 1 to record credit sale enter a debit amount enter a credit amount…
^ Presented below are transactions related to Concord Corporation. 1. 2. 3. (a) On December 3, Concord Corporation sold $662,200 of merchandise on account to Sarasota Co., terms 4/10, n/30, FOB shipping point. The cost of the merchandise sold was $351,200. On December 8, Sarasota Co. was granted an allowance of $26,600 for merchandise purchased on December 3. On December 13, Concord Corporation received the balance due from Sarasota Co. Prepare the journal entries to record these transactions on the books of Concord Corporation using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Dec. 3 Dec. 8 > Account Titles and Explanation (To record credit sale) norcal_archives_20....zip W QCA 5.docx W Debit response essay.docx 1 Credit
Presented below are transactions related to Oriole Company. 1. On December 3, Oriole Company sold $ 576,200 of merchandise on account to Sheffield Co., terms 4/10, n/30, FOB destination. Oriole paid $ 490 for freight charges. The cost of the merchandise sold was $ 385,100. 2. On December 8, Sheffield Co. was granted an allowance of $ 24,900 for merchandise purchased on December 3. 3. On December 13, Oriole Company received the balance due from Sheffield Co.
The following transactions are for Blossom Company. 1. On December 3, Blossom Company sold $499,800 of merchandise to Sunland Co., terms 2/10, n/30. The cost of the merchandise sold was $317,400. 2. On December 8, Sunland Co. was granted an allowance of $23,300 for merchandise purchased on December 3. 3. On December 13, Blossom Company received the balance due from Sunland Co. (a)Prepare the journal entries to record these transactions on the books of Blossom Company. Blossom Company uses a perpetual inventory system. (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.) No. Date Account Titles and Explanation Debit Credit 1. Choose a transaction date for number 1 Enter an account title for journal entry 1 to record credit sale enter a debit amount…
The following transactions are for Carla Vista Company. 1. On December 3, Carla Vista Company sold $552,200 of merchandise to Kingbird Co., on account, terms 3/10, n/30. The cost of the merchandise sold was $352,100. 2. On December 8, Kingbird Co. was granted an allowance of $25,300 for merchandise purchased on December 3. 3. On December 13, Carla Vista Company received the balance due from Kingbird Co. (a) Prepare the journal entries to record these transactions on the books of Carla Vista Company using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. choose a transaction date enter an account title to record credit sale enter a…
Current Attempt in Progress Presented below are transactions related to Concord Corporation. On December 3, Concord Corporation sold $662,200 of merchandise on account to Sarasota Co., terms 4/10, n/30, FOB shipping point. The cost of the merchandise sold was $351,200. On December 8, Sarasota Co. was granted an allowance of $26,600 for merchandise purchased on December 3. 3. On December 13, Concord Corporation received the balance due from Sarasota Co. 1. 2. (a) ✓ Your answer is correct. Prepare the journal entries to record these transactions on the books of Concord Corporation using a perpetual inventory system (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Dec. 3 Account Titles and Explanation Accounts Receivable norcal_archives_20....zip W QCA 5.docx W Debit 662,200 response essay.docx Credit