Widgets & Gadgets in a merchandiser that sells gadgets and widgets. They had the following transactions in the month of June, 2020 Task: Journalize these transactions for Widgets & Gadget Purchased gadgets and widgets from Unicorn Suppliers on account for 500,000 BDT. FOB Shipping Point-Shipping cost of 01-Jun 5,000 paid in cash. Discount terms 1/10, n/45. Sold gadgets to Star Traders for 75,000 BDT on account. The cost of these gadgets was 45,000 BDT. Terms 3/15, n/30, FOB Destination.. 02-Jun Freight of 1,500 BDT paid in cash. Returned gadgets worth 50,000 BDT to Unicorn Suppliers because 04-Jun they were defective. Received full credit. 09-Jun Paid Unicorn Suppliers in full less any applicable discounts. Sold Widgets to Dragon Traders for 80,000 in cash. These widgets had a cost of 50,000 BDT. FOB Shipping Point. Freight
Widgets & Gadgets in a merchandiser that sells gadgets and widgets. They had the following transactions in the month of June, 2020 Task: Journalize these transactions for Widgets & Gadget Purchased gadgets and widgets from Unicorn Suppliers on account for 500,000 BDT. FOB Shipping Point-Shipping cost of 01-Jun 5,000 paid in cash. Discount terms 1/10, n/45. Sold gadgets to Star Traders for 75,000 BDT on account. The cost of these gadgets was 45,000 BDT. Terms 3/15, n/30, FOB Destination.. 02-Jun Freight of 1,500 BDT paid in cash. Returned gadgets worth 50,000 BDT to Unicorn Suppliers because 04-Jun they were defective. Received full credit. 09-Jun Paid Unicorn Suppliers in full less any applicable discounts. Sold Widgets to Dragon Traders for 80,000 in cash. These widgets had a cost of 50,000 BDT. FOB Shipping Point. Freight
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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