Journal Entries | |||
Date | Account Title and explanation | Debit | Credit |
April, 02 | Merchandise | $ 3,100 | |
To Account Payable | $ 3,100 | ||
April, 03 | Merchandise | $ 260 | |
To Cash | $ 260 | ||
Account Payable | $ 900.00 | ||
April, 03 | To Merchandise | $ 900 | |
Account Payable (3100 - 900) | $ 2,200 | ||
April, 17 | To Discount on Purhcase ($ 2,200 X 2%) | $ 44 | |
To Cash | $ 2,156 | ||
April, 18 | Merchandise | $ 5,500 | |
To Account Payable | $ 5,500 | ||
April, 21 | Account Payable | $ 400 | |
To Purhcase Allowance | $ 400 | ||
April, 28 | Account Payable | $ 5,100 | |
To Discount on Purhcase ($ 5,100 X 1%) | $ 51 | ||
To Cash | $ 5,049 | ||
Exercise 4-3 Recording purchases, purchases returns, and purchases allowances LO P Prepare journal entries to record...
Exercise 4-3 Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $3,200 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. 3 Paid $350 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice...
3 Exercise 4-3 Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. nts Apr. eBook 2 Purchased $5,700 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. 3 Paid $350 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that...
3 Exercise 4-3 Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. nts Apr. eBook 2 Purchased $5,700 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. 3 Paid $350 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that...
Exercise 5-3 Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $4,300 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. 3 Paid $210 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice...
9 Exercise 4-3 Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, 1/60, invoice dated April 2, and TOB shipping point. 3 Paid $300 cash for shipping charges on the April 2 perchase. 4 Returned to Lyon Company unacceptable merchandise that had an...
Exercise 4-3 Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $3,200 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. 3 Paid s390 cash tor shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of s650. 17 Sent...
need help completing journal entries Exercise 4-15A Recording purchases, returns, and allowances-periodic LO P5 Apr. 2 Purchased $6,300 of merchandise from Lyon Company with credit terms of 2/15, 1/60, invoice dated April 2, and FOB shipping point. 3 Paid $353 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $900. 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and...
Exercise 5-5 Recoraing purcnases, purcnases returns, ana purcnases allowances Lumi Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method Apr 2 Purchased $3,200 of merchandise from Lyon Company with credit terms of 2/15, 1/60, invoice dated April 2, and FOB shipping point. 3 Paid $300 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price...
Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $6,800 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. 3 Paid $310 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600. 17 Sent a check to Lyon Company...
Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. 3 Paid $300 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600. 17 Sent a check to Lyon Company for...