Record the following transactions on the books of Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On July 1, Cullumber Co. sold merchandise on account to Stacey Inc. for $23,400, terms 2/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,400 to Cullumber Co. (c) On July 11, Stacey Inc. paid for the merchandise. Date Account Titles and Explanation Debit Credit Choose a transaction date July 1July 8July 11 Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Choose a transaction date July 1July 8July 11 Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Choose a transaction date July 1July 8July 11 Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

Name: Record the following transactions on the books of Cullumber Co. (Omit
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Description: Record the following transactions on the books of Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the

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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Record the following transactions on the books of Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

(a)		On July 1, Cullumber Co. sold merchandise on account to Stacey Inc. for $23,400, terms 2/10, n/30.
(b)		On July 8, Stacey Inc. returned merchandise worth $2,400 to Cullumber Co.
(c)		On July 11, Stacey Inc. paid for the merchandise.

Date

Account Titles and Explanation

Debit

Credit

Choose a transaction date July 1July 8July 11

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

Choose a transaction date July 1July 8July 11

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

Choose a transaction date July 1July 8July 11

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

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