QUESTION 5 1. Record journal entries for the following sales transactions of Flower Company. Oct. 12 Sold 25 bushels of flowers to a customer for $1,000 cash; cost of sale $700. Oct. 21 Sold 40 bushels of flowers for $30 per bushel on credit. Terms of the sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $20 to Flower Company. Oct. 31 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I US Paragraph Arial H Received payment in full from the October 21 sale. == 三三 BAXE v X² X₂ 国王图 <> † } 10pt ¶ ¶< V - Ku 田く +₁ 1 v ay Av V ¶ "" Ω 7
QUESTION 5 1. Record journal entries for the following sales transactions of Flower Company. Oct. 12 Sold 25 bushels of flowers to a customer for $1,000 cash; cost of sale $700. Oct. 21 Sold 40 bushels of flowers for $30 per bushel on credit. Terms of the sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $20 to Flower Company. Oct. 31 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I US Paragraph Arial H Received payment in full from the October 21 sale. == 三三 BAXE v X² X₂ 国王图 <> † } 10pt ¶ ¶< V - Ku 田く +₁ 1 v ay Av V ¶ "" Ω 7
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 16EA: Record journal entries for the following purchase transactions of Flower Company. A. On October 13,...
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![QUESTION 6
1. Review the following situations and record any necessary journal entries for Mequon's Boutique.
May 10
Mequon's Boutique purchases $2,400 worth of merchandise with cash
from a manufacturer. Shipping charges are an extra $130 cash. Terms of
the purchase are FOB Shipping Point.
Mequon's Boutique sells $3,000 worth of merchandise to a customer who
pays with cash. The merchandise has a cost to Mequon's of $1,750.
Shipping charges are an extra $150 cash. Terms of the sale are FOB
Shipping Point.
D
May 14
For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
B IUS Paragraph v Arial
二 三 三 三 EE
S
2
88
+8
10pt
X² X₂¶¶
+8 8 3 <> † {}
O
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+
E v
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A
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Transcribed Image Text:QUESTION 6
1. Review the following situations and record any necessary journal entries for Mequon's Boutique.
May 10
Mequon's Boutique purchases $2,400 worth of merchandise with cash
from a manufacturer. Shipping charges are an extra $130 cash. Terms of
the purchase are FOB Shipping Point.
Mequon's Boutique sells $3,000 worth of merchandise to a customer who
pays with cash. The merchandise has a cost to Mequon's of $1,750.
Shipping charges are an extra $150 cash. Terms of the sale are FOB
Shipping Point.
D
May 14
For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
B IUS Paragraph v Arial
二 三 三 三 EE
S
2
88
+8
10pt
X² X₂¶¶
+8 8 3 <> † {}
O
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
[+
+
E v
>
A
<
F
S
![QUESTION 5
1. Record journal entries for the following sales transactions of Flower Company.
Oct. 12
Sold 25 bushels of flowers to a customer for $1,000 cash; cost of sale
$700.
Oct. 21
Oct. 31
For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
B IUS Paragraph
Arial
HH
p
Sold 40 bushels of flowers for $30 per bushel on credit. Terms of the
sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $20 to
Flower Company.
Received payment in full from the October 21 sale.
8.8
I
E 三三 EE X² X₂
田田日
+88
= a
10pt
&¶¶<
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
a
V
<> † {} O
M
V
-
田く 描く
+]
+
M
g
>
A V
¶ ""
V Ix 26
Ω e
C₁
K
Save All](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F86c60640-3038-4526-a866-134df4c76531%2F0d7366ce-f774-45a8-9255-7b4338108276%2F537a46d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 5
1. Record journal entries for the following sales transactions of Flower Company.
Oct. 12
Sold 25 bushels of flowers to a customer for $1,000 cash; cost of sale
$700.
Oct. 21
Oct. 31
For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
B IUS Paragraph
Arial
HH
p
Sold 40 bushels of flowers for $30 per bushel on credit. Terms of the
sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $20 to
Flower Company.
Received payment in full from the October 21 sale.
8.8
I
E 三三 EE X² X₂
田田日
+88
= a
10pt
&¶¶<
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
a
V
<> † {} O
M
V
-
田く 描く
+]
+
M
g
>
A V
¶ ""
V Ix 26
Ω e
C₁
K
Save All
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