Homework Answers
Journal entries
| Date | General Journal | Debit | Credit |
| Feb 2 | Account receivable | 900 | |
| Sales revenue | 900 | ||
| Feb 10 | Account receivable | 2000 | |
| Sales revenue | 2000 | ||
| Feb 11 | cash (900*97%) | 873 | |
| Sales discount | 27 | ||
| Account receivable | 900 | ||
| Feb 15 | Sales return and allowance | 1400 | |
| Account receivable | 1400 | ||
| Feb 19 | Cash (600*99%) | 594 | |
| Sales discount | 6 | ||
| Account receivable | 600 | ||
b) Amount = Gross Sales-Sales discount = 1500-33 = 1467
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More Info ford entri nale on ac Feb 2 10 11 15 19 Sold merchandise on...
More Info Sep 2 10 11 15 19 Sold merchandise on account to Tyson Elsworth, $1,500,...
More Info Sep 2 10 11 15 19 Sold merchandise on account to Tyson Elsworth, $1,500, terms 2/10, n/30. Sold merchandise on account to Brady O'Malley, $1,900, terms 3/10, n/30 Collected payment from Elsworth for the September 2 sale. O'Malley returned $1,300 of the merchandise purchased on September 10. Collected payment from O'Malley for the balance of the September 10 sale. Print Done Done Modern Interiors reported the following transactions in September: (Click on the icon to view the transactions.)...
Question Help E5-28B (similar to) Color Interiors reported the following transactions in November: (Click on the...
Question Help E5-28B (similar to) Color Interiors reported the following transactions in November: (Click on the icon to view the transactions.) Read the requirements Requirement 1. Record the foregoing transactions in the journal of Color Interiors using the gross method. (You do not need to make the cost of sales journal entries; assume that these entries will be made by the company when it makes its other adjusting entries at period end.) (Record debits first, then credits. Exclude explanations from...
i need help with dec 19 transaction it keeps telling me answers are wrong thank you...
i need help with dec 19 transaction it keeps telling me answers
are wrong
thank you
X LJ-ZUL (SIIDI IU) More Info - X Pastel Interiors reported the following transactions in December: (Click on the icon to view the transactions.) Read the requirements. Journal Entry Dec 2 10 11 15 19 Sold merchandise on account to Tony Baldwin, $1,100, terms 3/10, n/30. Sold merchandise on account to Bruce Oswald, $2,000, terms 3/10, n/30. Collected payment from Baldwin for the December...
Bold Interiors reported the following transactions in December: (Click on the icon to view the transactions.)...
Bold Interiors reported the following transactions in December: (Click on the icon to view the transactions.) Read the requirements. Requirement 1. Record the foregoing transactions in the journal of Bold Interiors using the gross method. (You do not need to make the cost of sales journal entries, assume that these entries will be made by the company when it makes its other adjusting entries at period end.) (Record debits first, then credits. Exclude explanations from any journal entries.) Dec 2:...
8. Graded Homework Assignment Saved DATE TRANSACTIONS 2019 Feb. 10 Purchased merchandise for $5,000 from Schmidt, I...
8. Graded Homework Assignment Saved DATE TRANSACTIONS 2019 Feb. 10 Purchased merchandise for $5,000 from Schmidt, Ine. Invoice 1980, terms 1/10, n/30. 13 Received Credit Memorandum 230 from Schmidt, Inc., for damaged merchandise totaling $200 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Paid amount due to Schmidt, Inc., for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. Schmidt, Inc. DATE TRANSACTIONS 2019 Feb....
Modern Intenors reported the folowing transacions i September (Click on the icon to view the transactiops...
Modern Intenors reported the folowing transacions i September (Click on the icon to view the transactiops More Info Read the requirements es jounal entries; assume that these om any journal entries.) Requirement 1. Record the foregoing trans entries wil be made by the company when Sold merchandise on account to Tyson Elsworth, $1,500, terms 2/10, n/30. Sep 2 Sep 2: Sold merchandise on account to Tys 10 Sold merchandise on account to Brady O'Maley, $1,900, terms 3/10, n/30 Collected payment...
- October 1 Sold $11,000 of merchandise to Pearsey Co, on account. October 3 Sold $2.400...
- October 1 Sold $11,000 of merchandise to Pearsey Co, on account. October 3 Sold $2.400 of merchandise to Borg Corporation, who paid by credit card. The cilit card company charges Beltran a fee of 1% on credit card sales October 7 Sold $19,000 of merchandise to McNab Company on account. October 8 Pearsey paid the balance of what it owed for the purchase on October 1 October 12 Sold $17.000 of merchandise to Wack Enterprises on account. October 16...
On February 6, Crane Company sold $109,000 of merchandise to the Lyman Company, terms 2/10 net/30....
On February 6, Crane Company sold $109,000 of merchandise to the Lyman Company, terms 2/10 net/30. The cost of the merchandise sold was $83,000. On February 8, the Lyman Company returned $13,000 of the merchandise purchased on February 6. The cost of the merchandise returned was $9,000. On February 16 Crane Company received the balance due from the Lyman Company Prepare the journal entries to record the above transactions on Crane Company's books using a perpetual inventory system is entered....
E5C-5 (similar to) Journalize the following transactions for Burlington Art Gift Shop. Assume Burlington uses the...
E5C-5 (similar to) Journalize the following transactions for Burlington Art Gift Shop. Assume Burlington uses the gross method to record sales revenue. Explanations are not required. (Assume the company uses a perpetual invento (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from journal entries.) Feb. 3: Purchased $3,400 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point. Date Accounts Debit Credit 0 More Info Feb. 3 3 Purchased $3,400 of...
Record the following transactions for Kramer Company: 1-Sep Sold merchandise to Akin Company, terms 2/10, net...
Record the following transactions for Kramer Company: 1-Sep Sold merchandise to Akin Company, terms 2/10, net 30 $920 3-Sep Akin Co. returned damaged merchandise to Kramer Company. $20 7-Sep Kramer Co. received payment in full. GENERAL JOURNAL DATE ACCOUNT TITLE DEBIT CREDIT Heyward Company uses the allowance method for estimating uncollectible accounts. Prepare the journal entries to record the following transactions: 1-Jun Sold merchandise to retail customer for $1,500 terms n/15. 5-Jul Received payment from this customer for $ 1,000...
More Info Sep 2 10 11 15 19 Sold merchandise on account to Tyson Elsworth, $1,500, terms 2/10, n/30. Sold merchandise on account to Brady O'Malley, $1,900, terms 3/10, n/30 Collected payment from Elsworth for the September 2 sale. O'Malley returned $1,300 of the merchandise purchased on September 10. Collected payment from O'Malley for the balance of the September 10 sale. Print Done Done Modern Interiors reported the following transactions in September: (Click on the icon to view the transactions.)...
Question Help E5-28B (similar to) Color Interiors reported the following transactions in November: (Click on the icon to view the transactions.) Read the requirements Requirement 1. Record the foregoing transactions in the journal of Color Interiors using the gross method. (You do not need to make the cost of sales journal entries; assume that these entries will be made by the company when it makes its other adjusting entries at period end.) (Record debits first, then credits. Exclude explanations from...
i need help with dec 19 transaction it keeps telling me answers
are wrong
thank you
X LJ-ZUL (SIIDI IU) More Info - X Pastel Interiors reported the following transactions in December: (Click on the icon to view the transactions.) Read the requirements. Journal Entry Dec 2 10 11 15 19 Sold merchandise on account to Tony Baldwin, $1,100, terms 3/10, n/30. Sold merchandise on account to Bruce Oswald, $2,000, terms 3/10, n/30. Collected payment from Baldwin for the December...
Bold Interiors reported the following transactions in December: (Click on the icon to view the transactions.) Read the requirements. Requirement 1. Record the foregoing transactions in the journal of Bold Interiors using the gross method. (You do not need to make the cost of sales journal entries, assume that these entries will be made by the company when it makes its other adjusting entries at period end.) (Record debits first, then credits. Exclude explanations from any journal entries.) Dec 2:...
8. Graded Homework Assignment Saved DATE TRANSACTIONS 2019 Feb. 10 Purchased merchandise for $5,000 from Schmidt, Ine. Invoice 1980, terms 1/10, n/30. 13 Received Credit Memorandum 230 from Schmidt, Inc., for damaged merchandise totaling $200 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Paid amount due to Schmidt, Inc., for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. Schmidt, Inc. DATE TRANSACTIONS 2019 Feb....
Modern Intenors reported the folowing transacions i September (Click on the icon to view the transactiops More Info Read the requirements es jounal entries; assume that these om any journal entries.) Requirement 1. Record the foregoing trans entries wil be made by the company when Sold merchandise on account to Tyson Elsworth, $1,500, terms 2/10, n/30. Sep 2 Sep 2: Sold merchandise on account to Tys 10 Sold merchandise on account to Brady O'Maley, $1,900, terms 3/10, n/30 Collected payment...
- October 1 Sold $11,000 of merchandise to Pearsey Co, on account. October 3 Sold $2.400 of merchandise to Borg Corporation, who paid by credit card. The cilit card company charges Beltran a fee of 1% on credit card sales October 7 Sold $19,000 of merchandise to McNab Company on account. October 8 Pearsey paid the balance of what it owed for the purchase on October 1 October 12 Sold $17.000 of merchandise to Wack Enterprises on account. October 16...
On February 6, Crane Company sold $109,000 of merchandise to the Lyman Company, terms 2/10 net/30. The cost of the merchandise sold was $83,000. On February 8, the Lyman Company returned $13,000 of the merchandise purchased on February 6. The cost of the merchandise returned was $9,000. On February 16 Crane Company received the balance due from the Lyman Company Prepare the journal entries to record the above transactions on Crane Company's books using a perpetual inventory system is entered....
E5C-5 (similar to) Journalize the following transactions for Burlington Art Gift Shop. Assume Burlington uses the gross method to record sales revenue. Explanations are not required. (Assume the company uses a perpetual invento (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from journal entries.) Feb. 3: Purchased $3,400 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point. Date Accounts Debit Credit 0 More Info Feb. 3 3 Purchased $3,400 of...
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