On DecemberDecember 3131, 20172017, FinleyFinley purchased $ 17 comma 000$17,000 of merchandise inventory on a one-year,...
On
DecemberDecember
3131,
20172017,
FinleyFinley
purchased
$ 17 comma 000$17,000
of merchandise inventory on a one-year,
77%
note payable.
FinleyFinley
uses a perpetual inventory system.
Read the requirements
LOADING...
. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
Homework Answers
| Date | Account | Debit | Credit |
| Dec 31 | Merchandise inventory | 17,000 | |
| Notes payable | 17,000 | ||
Add Answer to:
On
DecemberDecember
3131,
20172017,
FinleyFinley
purchased
$ 17 comma 000$17,000
of merchandise inventory on a one-year,...
On DecemberDecember 3131, 20172017, FinleyFinley purchased $ 17 comma 000$17,000 of merchandise inventory on a one-year,...
On DecemberDecember 3131, 20172017, FinleyFinley purchased $ 17 comma 000$17,000 of merchandise inventory on a one-year, 77% note payable. FinleyFinley uses a perpetual inventory system. Read the requirements LOADING... . (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
On December 31, 2017, Lemoyne purchased $17,000 of merchandise inventory on a one-year, 12% note payable....
On December 31, 2017, Lemoyne purchased $17,000 of merchandise inventory on a one-year, 12% note payable. Lemoyne uses a perpetual inventory system. Read the requirements. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2017. Accounts and Explanation Date Debit Credit 2017 Dec. 31 ? Choose from any list or enter any number in the input fields and then click...
On December 31, 2017, Finley purchased $8,000 of merchandise inventory on a one-year, 10% note payable....
On December 31, 2017, Finley purchased $8,000 of merchandise inventory on a one-year, 10% note payable. Finley uses a perpetual inventory system. Read the requirements. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2017 Date Accounts and Explanation Debit i Requirements - X Credit 2017 Dec. 31 1. Journalize the company's purchase of merchandise inventory on December 31, 2017...
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Chapter 11
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CH Required information A seller uses a perpetual inventory system, and on April 17, a customer...
CH Required information A seller uses a perpetual inventory system, and on April 17, a customer returns $1,000 of merchandise previously purchased on credit on April 13. The seller's cost of the merchandise returned was $480. The merchandise is not defective and is restored to inventory. The seller has not yet received any cash from the customer. Complete the two Journal entries to record the return transaction by selecting the account names from the drop-down menus and entering the dollar...
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On August 1August 1, 20192019, The ResortThe Resort at Mill Lake, Inc., purchased inventory costing $ 50 comma 000$50,000 by signing aa 66%, six-month, short-term note payable. The company will pay the entire note (principal and interest) on the note's maturity date.Read the requirements LOADING... . Requirement 1. Journalize the company's purchase of inventory. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit 2019 Aug 1 Cash 50000 Note Payable, Short-term Requirement 2....
On December 31, 2017, Lemoyne purchased $17,000 of merchandise inventory on a one-year, 12% note payable. Lemoyne uses a perpetual inventory system. Read the requirements. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2017. Accounts and Explanation Date Debit Credit 2017 Dec. 31 ? Choose from any list or enter any number in the input fields and then click...
On December 31, 2017, Finley purchased $8,000 of merchandise inventory on a one-year, 10% note payable. Finley uses a perpetual inventory system. Read the requirements. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2017 Date Accounts and Explanation Debit i Requirements - X Credit 2017 Dec. 31 1. Journalize the company's purchase of merchandise inventory on December 31, 2017...
Chapter 11
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On December 31, 2017, Jellison purchased $5,000 of merchandise inventory on a one-year, 11% note payable. Jellison uses a perpetual inventory system. Read the requirements. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2017. Date Accounts and Explanation Debit Credit i X Х Requirements 2017 Dec. 31 1. Journalize the company's purchase of merchandise inventory on...
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