ross method. Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dat FOB shipping point. April 2 April 3 Paid $300 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned mer Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice 18, and FOB destination. April 18 April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,- the April 18 purchase. April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
ross method. Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dat FOB shipping point. April 2 April 3 Paid $300 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned mer Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice 18, and FOB destination. April 18 April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,- the April 18 purchase. April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter10: Cash Receipts And Cash Payments
Section: Chapter Questions
Problem 5PA: The following transactions were completed by Nelsons Boutique, a retailer, during July. Terms of...
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 alt="gross method,.
n a Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated Apr
FOB shipping point.
April 3 Paid $300 cash for shipping charges on the April 2 purchase.
April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600.
April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandi
April 18 Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated
18, and FOB destination.
After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owe
April 21 the April 18 purchase.
April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
View transaction list
Journal entry worksheet
int
2 3
4
7
ferences
Purchased $4,600 of merchandise from Lyon Company with credit terms of
2/15, n/60, invoice dated April 2, and FOB shipping point.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Apr 02
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Transcribed Image Text:gross method,.
n a Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated Apr
FOB shipping point.
April 3 Paid $300 cash for shipping charges on the April 2 purchase.
April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600.
April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandi
April 18 Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated
18, and FOB destination.
After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owe
April 21 the April 18 purchase.
April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
View transaction list
Journal entry worksheet
int
2 3
4
7
ferences
Purchased $4,600 of merchandise from Lyon Company with credit terms of
2/15, n/60, invoice dated April 2, and FOB shipping point.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Apr 02
Prev
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 alt="gross method.
Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2
FOB shipping point.
April 2
April 3 Paid $300 cash for shipping charges on the April 2 purchase.
April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600.
April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.
Anril 19 Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated Apri
18, and FOB destination.
April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owed on
the April 18 purchase.
April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
View transaction list
Journal entry worksheet
3
4
6
<>
ences
Paid $300 cash for shipping charges on the April 2 purchase.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Apr 03
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Transcribed Image Text:gross method.
Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2
FOB shipping point.
April 2
April 3 Paid $300 cash for shipping charges on the April 2 purchase.
April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600.
April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.
Anril 19 Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated Apri
18, and FOB destination.
April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owed on
the April 18 purchase.
April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
View transaction list
Journal entry worksheet
3
4
6
<>
ences
Paid $300 cash for shipping charges on the April 2 purchase.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Apr 03
Mc
Graw
Hill
1 of 5
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