Please don't give image format and no chatgpt answer Some of the transactions of Oriole Company during August are listed below. Oriole uses the periodic inventory method.Purchased merchandise on account, $9,600, terms 2/10, n/30.Returned part of the purchase of August 10, $1,100, and received credit on account.Purchased merchandise on account, $13,500, terms 1/10, n/60.Purchased merchandise on account, $16,900, terms 2/10, n/30.Paid invoice of August 15 in full.August 101315(a1)2528Assuming that purchases are recorded at gross amounts and that discounts are to be recorded when taken:Prepare general journal entries to record the transactions. (If no entry is required, select "No entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entriesbefore credit entries)

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Description: Please don't give image format and no chatgpt answer Some of the transactions of Oriole Company during August are listed below. Oriole uses the periodic inventory method.Purchased merchandise on account, $9,600, terms 2/10, n/30.Returned part of the

Journal entry is the method of recording day to day business transactions in to the accounting…

Business

Accounting

Some of the transactions of Oriole Company during August are listed below. Oriole uses the periodic inventory method. August 10 Purchased merchandise on account, $9,600, terms 2/10, n/30. 13 Returned part of the purchase of August 10, $1,100, and received credit on account. Purchased merchandise on account, $13.500, terms 1/10, n/60. Purchased merchandise on account, $16,900, terms 2/10, n/30. Paid invoice of August 15 in full. (a1) 15 25 28 Assuming that purchases are recorded at gross amounts and that discounts are to be recorded when taken: Prepare general journal entries to record the transactions. (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. List all debit entries before credit entries)

Some of the transactions of Oriole Company during August are listed below. Oriole uses the periodic inventory method. August 10 Purchased merchandise on account, $9,600, terms 2/10, n/30. 13 Returned part of the purchase of August 10, $1,100, and received credit on account. Purchased merchandise on account, $13.500, terms 1/10, n/60. Purchased merchandise on account, $16,900, terms 2/10, n/30. Paid invoice of August 15 in full. (a1) 15 25 28 Assuming that purchases are recorded at gross amounts and that discounts are to be recorded when taken: Prepare general journal entries to record the transactions. (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. List all debit entries before credit entries)

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 2PEA: Beginning inventory, purchases, and sales for Item Widget are as follows: Assuming a perpetual...

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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Please don't give image format and no chatgpt answer

Some of the transactions of Oriole Company during August are listed below. Oriole uses the periodic inventory method.
Purchased merchandise on account, $9,600, terms 2/10, n/30.
Returned part of the purchase of August 10, $1,100, and received credit on account.
Purchased merchandise on account, $13,500, terms 1/10, n/60.
Purchased merchandise on account, $16,900, terms 2/10, n/30.
Paid invoice of August 15 in full.
August 10
13
15
(a1)
25
28
Assuming that purchases are recorded at gross amounts and that discounts are to be recorded when taken:
Prepare general journal entries to record the transactions. (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. List all debit entries
before credit entries)

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