Brief Exercise 8-2 Record the following transactions on the books of RAS Co. (Credit account titles...
Brief Exercise 8-2 Record the following transactions on the books of RAS Co. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) On July 1, RAS Co. sold merchandise on account to Waegelein Inc. for $16,200, terms 3/10, n/30. (b) On July 8, Waegelein Inc. returned merchandise worth $5,400 to RAS Co. (c) On July 11, Waegelein Inc. paid for the merchandise.
Homework Answers
Journal entries:
| Date | Accounting title | Debit | Credit |
|---|---|---|---|
| July 1 |
Accounts receivable Sales |
$16200 . |
. $16200 |
| July 8 |
Sales Accounts receivable |
$5400 . |
. $5400 |
| July 11 |
Cash Sales discount ($10800 x 3%) Accounts receivable ($16200 - $5400) |
$10476 $324 . |
. . $10800 |
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Brief Exercise 8-2 Record the following transactions on the
books of RAS Co. (Credit account titles...
Record the following transactions on the books of RAS Co. (Credit account titles are automatically indented...
Record the following transactions on the books of RAS Co. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) (b) (c) On July 1, RAS Co. sold merchandise on account to Waegelein Inc. for $17,000, terms 4/10, n/30. On July 8, Waegelein Inc. returned merchandise worth $4,900 to RAS Co. On July 11, Waegelein Inc. paid for the merchandise. Account Titles and Explanation Debit Credit (a) Accounts Receivable Sales Revenue 17000 (b) Sales Returns...
Brief Exercise 8-02 Record the following transactions on the books of Crane Co. (Omit cost of...
Brief Exercise 8-02 Record the following transactions on the books of Crane Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. not indent manually. Record journal entries in the order presented in the problem.) (a) On July 1, Crane Co. sold merchandise on account to Stacey Inc. for $21,860, terms 3/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,360 to Crane Co. (c) On July 11, Stacey Inc. paid...
Brief Exercise 8-02 Record the following transactions on the books of Sheridan Co. (Omit cost of goods sold entries.) (C...
Brief Exercise 8-02 Record the following transactions on the books of Sheridan Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On July 1, Sheridan Co. sold merchandise on account to Stacey Inc. for $21,540, terms 4/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,540 to Sheridan Co. (c) On July 11, Stacey Inc....
Record the following transactions on the books of Blossom Co. (Credit account titles are automatically indented...
Record the following transactions on the books of Blossom Co.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
a.
On July 1, Blossom Co. sold merchandise on account to Waegelein
Inc. for $15,300, terms 2/10, n/30.
b.
On July 8, Waegelein Inc. returned merchandise worth $3,500 to
Blossom Co.
c.
On July 11, Waegelein Inc. paid for the merchandise.
Account Titles and Explanation
Debit
Credit
a.
b.
c.
Click if you would like to...
Record the following transactions on the books of Crane Co. (Omit cost of goods sold entries.)...
Record the following transactions on the books of Crane Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On July 1, Crane Co. sold merchandise on account to Stacey Inc. for $21,860, terms 3/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,360 to Crane Co. (c) On July 11, Stacey Inc. paid for...
Brief Exercise B-02 Record the following transactions on the books of Withorse ca entries in the...
Brief Exercise B-02 Record the following transactions on the books of Withorse ca entries in the order presented in the problem.) t cost of goods dents) (Cracow titles are automatically indeled when amount is entered the sofindet manually. Record journal (w) Only 1 Wildhorse Co. sold merchandise on account to Stacey Inc. for $23.700. terms 2/10, 130 (6) On July 3, Stacey Inc returned merchandise worth $2,600 to Wildhorse Co. ich On My 11, Stacey Inc. pard for the merchandise...
Prepare the journal entries to record these transactions on the books of Sheffield Co. under a...
Prepare the journal entries to record these transactions on the
books of Sheffield Co. under a perpetual inventory system. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually.)
Exercise 5-02 a-b (Part Level Submission) (Video) Information related to Sheffield Co. is presented below. 1. On April 5, purchased merchandise on account from Skysong Company for $29,500, terms 4/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $960 on merchandise purchased from...
edugen wileyplus.com Wiley PLUS Is Kimmel, Financial Accounting, se JS Help System Announcements Brief Exercise 8-2...
edugen wileyplus.com Wiley PLUS Is Kimmel, Financial Accounting, se JS Help System Announcements Brief Exercise 8-2 Record the following transactions on the books of Novak Corp. (Omit cost of goods sold entries.) (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) (a) On July 1, Novak Corp, sold merchandise on account to Stacey Inc. for $23,400, terms 2/10, 1/30 (b) On July 8. Stacey Inc. returned merchandise worth $2,400 to Novak Corp.. (c) On July...
Question 1 View Policies Current Attempt In Progress Record the following transactions on the books of...
Question 1 View Policies Current Attempt In Progress Record the following transactions on the books of Skysong, Inc. (Omit cost of goods sold entries.) Credit accounties ar automatically indented when amount is entered Doro Indent man (a) On July 1, Skysong, Inc. sold merchandise on account to Stacey Inc. for $22.200, terms 4/10,n30. (b) On July 8, Stacey Inc. returned merchandise worth $2,400 to Skysong, Inc. (d) On July 11, Stacey Inc. paid for the merchandise. No. Date Account Titles...
Brief Exercise 5-3 Prepare the journal entries to record the following transactions on Novak Corp.'s books...
Brief Exercise 5-3 Prepare the journal entries to record the following transactions on Novak Corp.'s books using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) on March 2, Novak Corp. sold E758,000 of merchandise to Edgebrook Company, terms 2/10, n/30. The cost of the merchandise sold was E524,000. Account Tities and Explanation Debit Credit (To record the sale) (To record cost of merchandise sold) (b) on March 6, Edgebrook...
Record the following transactions on the books of RAS Co. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) (b) (c) On July 1, RAS Co. sold merchandise on account to Waegelein Inc. for $17,000, terms 4/10, n/30. On July 8, Waegelein Inc. returned merchandise worth $4,900 to RAS Co. On July 11, Waegelein Inc. paid for the merchandise. Account Titles and Explanation Debit Credit (a) Accounts Receivable Sales Revenue 17000 (b) Sales Returns...
Brief Exercise 8-02 Record the following transactions on the books of Crane Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. not indent manually. Record journal entries in the order presented in the problem.) (a) On July 1, Crane Co. sold merchandise on account to Stacey Inc. for $21,860, terms 3/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,360 to Crane Co. (c) On July 11, Stacey Inc. paid...
Record the following transactions on the books of Blossom Co.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
a.
On July 1, Blossom Co. sold merchandise on account to Waegelein
Inc. for $15,300, terms 2/10, n/30.
b.
On July 8, Waegelein Inc. returned merchandise worth $3,500 to
Blossom Co.
c.
On July 11, Waegelein Inc. paid for the merchandise.
Account Titles and Explanation
Debit
Credit
a.
b.
c.
Click if you would like to...
Brief Exercise B-02 Record the following transactions on the books of Withorse ca entries in the order presented in the problem.) t cost of goods dents) (Cracow titles are automatically indeled when amount is entered the sofindet manually. Record journal (w) Only 1 Wildhorse Co. sold merchandise on account to Stacey Inc. for $23.700. terms 2/10, 130 (6) On July 3, Stacey Inc returned merchandise worth $2,600 to Wildhorse Co. ich On My 11, Stacey Inc. pard for the merchandise...
Prepare the journal entries to record these transactions on the
books of Sheffield Co. under a perpetual inventory system. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually.)
Exercise 5-02 a-b (Part Level Submission) (Video) Information related to Sheffield Co. is presented below. 1. On April 5, purchased merchandise on account from Skysong Company for $29,500, terms 4/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $960 on merchandise purchased from...
edugen wileyplus.com Wiley PLUS Is Kimmel, Financial Accounting, se JS Help System Announcements Brief Exercise 8-2 Record the following transactions on the books of Novak Corp. (Omit cost of goods sold entries.) (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) (a) On July 1, Novak Corp, sold merchandise on account to Stacey Inc. for $23,400, terms 2/10, 1/30 (b) On July 8. Stacey Inc. returned merchandise worth $2,400 to Novak Corp.. (c) On July...
Question 1 View Policies Current Attempt In Progress Record the following transactions on the books of Skysong, Inc. (Omit cost of goods sold entries.) Credit accounties ar automatically indented when amount is entered Doro Indent man (a) On July 1, Skysong, Inc. sold merchandise on account to Stacey Inc. for $22.200, terms 4/10,n30. (b) On July 8, Stacey Inc. returned merchandise worth $2,400 to Skysong, Inc. (d) On July 11, Stacey Inc. paid for the merchandise. No. Date Account Titles...
Brief Exercise 5-3 Prepare the journal entries to record the following transactions on Novak Corp.'s books using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) on March 2, Novak Corp. sold E758,000 of merchandise to Edgebrook Company, terms 2/10, n/30. The cost of the merchandise sold was E524,000. Account Tities and Explanation Debit Credit (To record the sale) (To record cost of merchandise sold) (b) on March 6, Edgebrook...
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