The following are selected transactions of Whispering Winds Company. Whispering Winds sells in large quantities to other companies and also sells its product in a small retail outlet. March 1 3 9 15 Sold merchandise on account to Dodson Company for $11,000, terms 6/10, n/30. Dodson Company returned merchandise worth $500 to Whispering Winds Whispering Winds collected the amount due from Dodson Company from the March 1 sale Whispering Winds sold merchandise for $2.250 in its retail outlet. The customer used his Whispering Winds credit card. 31 Whispering Winds added 1.6% monthly interest to the customer's credit card balance. Prepare journal entries for the transactions above. (Ignore cost of goods sold entries and explanations) (Credit account titles are ally #fon entry is required select "No Entry for the account titles

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following are selected transactions of Whispering Winds Company. Whispering Winds sells in large quantities to other companies
and also sells its product in a small retail outlet.
March 1
3
9
15
Sold merchandise on account to Dodson Company for $11,000, terms 6/10, r/30,
Dodson Company returned merchandise worth $500 to Whispering Winds.
Whispering Winds collected the amount due from Dodson Company from the March 1 sale.
Whispering Winds sold merchandise for $2,250 in its retail outlet. The customer used his Whispering Winds credit
card.
31 Whispering Winds added 1.6% monthly interest to the customer's credit card balance.
Prepare journal entries for the transactions above. (Ignore cost of goods sold entries and explanations.) (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
March 9
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:The following are selected transactions of Whispering Winds Company. Whispering Winds sells in large quantities to other companies and also sells its product in a small retail outlet. March 1 3 9 15 Sold merchandise on account to Dodson Company for $11,000, terms 6/10, r/30, Dodson Company returned merchandise worth $500 to Whispering Winds. Whispering Winds collected the amount due from Dodson Company from the March 1 sale. Whispering Winds sold merchandise for $2,250 in its retail outlet. The customer used his Whispering Winds credit card. 31 Whispering Winds added 1.6% monthly interest to the customer's credit card balance. Prepare journal entries for the transactions above. (Ignore cost of goods sold entries and explanations.) (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 March 9 Account Titles and Explanation Debit Credit
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