The Marchetti Soup Company entered into the following transactions during the month of Juner () prchaned wentory on accou fo $205,000 (assume Marchetti uses a perpetual inventory system), (2) pad $52,000 in salanes to employees tor work pertomed dunng the month; (3) sold merchandise that cost $144,000 to credit customers for $200,000, (4) collected $240000 in canh trom ereda customers; and (5) paid suppliers of inventory $185,000. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts in zero excepa tor cash, accounts receivable, and accounts payable that had opening balances of $71,0o00, $55,000, and $34,000, respectively (Enter the transaction number in the column next to the amount.) Beg bal Beg. bal End bal. End. bal. Inventory Accounts payable Beg bal Beg bal End bal End bal.

The Marchetti Soup Company entered into the following transactions during the month of Juner () prchaned wentory on accou fo $205,000 (assume Marchetti uses a perpetual inventory system), (2) pad $52,000 in salanes to employees tor work pertomed dunng the month; (3) sold merchandise that cost $144,000 to credit customers for $200,000, (4) collected $240000 in canh trom ereda customers; and (5) paid suppliers of inventory $185,000. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts in zero excepa tor cash, accounts receivable, and accounts payable that had opening balances of $71,0o00, $55,000, and $34,000, respectively (Enter the transaction number in the column next to the amount.) Beg bal Beg. bal End bal. End. bal. Inventory Accounts payable Beg bal Beg bal End bal End bal.

Name: The Marchetti Soup Company entered into the following transactions du
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Description: The Marchetti Soup Company entered into the following transactions during the month of June ( purchansed wwentory on account for$205,000 (assume Marchetti uses a perpetual inventory system), (2) paid $52.000 in salanes to employees tor work pertomed

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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