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Required information The following information applies to the questions displayed below.) On July 15, 2021, the...
Required information (The following information applies to the questions displayed below.] On July 15, 2021, the...
Required information (The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 1,900 tires from the Harwell Company for $40 each. The terms of the sale were 4/10, n/30. Nixon uses a perpetual inventory system and the net method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021. 2. Prepare the journal entry for the payment, assuming...
Required information The following information applies to the questions displayed below.] On July 15, 2021, the...
Required information The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 2100 tires from the Harwell Company for $40 each. The terms of the sale were 3/10, n/30. Nixon uses a perpetual inventory system and the net method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021 2. Prepare the journal entry for the payment, assuming...
[The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car...
[The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 2,400 tires from the Harwell Company for $35 each. The terms of the sale were 2/10, n/30. Nixon uses a perpetual inventory system and the gross method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021. 2. Prepare the journal entry for the payment, assuming instead that...
PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! Required Information [The following Information applies...
PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Required Information [The following Information applies to the questions displayed below.) On July 15, 2021, the Nixon Car Company purchased 1.300 tires from the Harwell Company for $60 each. The terms of the sale were 4/10, n/30. Nixon uses a perpetual Inventory system and the net method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on...
PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! Required Information [The following...
PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Required Information [The following information applies to the questions displayed below.) On July 15, 2021, the Nixon Car Company purchased 1,200 tires from the Harwell Company for $55 each. The terms of the sale were 2/10, n/30. Nixon uses a perpetual Inventory system and the gross method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,500 tires to the...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,500 tires to the Nixon Car Company for $50 each. The terms of the sale were 3/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
On July 15, 2018, the Nixon Car Company purchased 3,000 tires from the Harwell Company for...
On July 15, 2018, the Nixon Car Company purchased 3,000 tires
from the Harwell Company for $30 each. The terms of the sale were
2/10, n/30. Nixon uses a periodic inventory system and the
net method of accounting for purchase discounts.
Required:
1. Prepare the journal entries to record the
purchase on July 15 and payment on July 23, 2018.
2. Prepare the journal entry to record the payment
on August 15, 2018.
3. If Nixon instead uses a perpetual...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,600 tires to the...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,600 tires to the Nixon Car Company for $40 each. The terms of the sale were 2/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
On July 15, 2018, the Nixon Car Company purchased 2,300 tires from the Harwell Company for...
On July 15, 2018, the Nixon Car Company purchased 2,300 tires from the Harwell Company for $35 each. The terms of the sale were 4/10, 1/30. Nixon uses a periodic inventory system and the net method of accounting for purchase discounts Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2018 2. Prepare the journal entry to record the payment on August 15, 2018 3. If Nixon instead uses a perpetual...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,200 tires to the...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,200 tires to the Nixon Car Company for $65 each. The terms of the sale were 3/15, n/30. Harwell uses the gross method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
Required information (The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 1,900 tires from the Harwell Company for $40 each. The terms of the sale were 4/10, n/30. Nixon uses a perpetual inventory system and the net method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021. 2. Prepare the journal entry for the payment, assuming...
Required information The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 2100 tires from the Harwell Company for $40 each. The terms of the sale were 3/10, n/30. Nixon uses a perpetual inventory system and the net method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021 2. Prepare the journal entry for the payment, assuming...
PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Required Information [The following Information applies to the questions displayed below.) On July 15, 2021, the Nixon Car Company purchased 1.300 tires from the Harwell Company for $60 each. The terms of the sale were 4/10, n/30. Nixon uses a perpetual Inventory system and the net method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on...
PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Required Information [The following information applies to the questions displayed below.) On July 15, 2021, the Nixon Car Company purchased 1,200 tires from the Harwell Company for $55 each. The terms of the sale were 2/10, n/30. Nixon uses a perpetual Inventory system and the gross method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,500 tires to the Nixon Car Company for $50 each. The terms of the sale were 3/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
On July 15, 2018, the Nixon Car Company purchased 3,000 tires
from the Harwell Company for $30 each. The terms of the sale were
2/10, n/30. Nixon uses a periodic inventory system and the
net method of accounting for purchase discounts.
Required:
1. Prepare the journal entries to record the
purchase on July 15 and payment on July 23, 2018.
2. Prepare the journal entry to record the payment
on August 15, 2018.
3. If Nixon instead uses a perpetual...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,600 tires to the Nixon Car Company for $40 each. The terms of the sale were 2/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
On July 15, 2018, the Nixon Car Company purchased 2,300 tires from the Harwell Company for $35 each. The terms of the sale were 4/10, 1/30. Nixon uses a periodic inventory system and the net method of accounting for purchase discounts Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2018 2. Prepare the journal entry to record the payment on August 15, 2018 3. If Nixon instead uses a perpetual...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,200 tires to the Nixon Car Company for $65 each. The terms of the sale were 3/15, n/30. Harwell uses the gross method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
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