Question

mining time: 3 hours, 10 minutes, 13 seconds. estion Completion Status: Path:p Words:0 QUESTION 102 Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 Sold 8 motors at a cost of $45 each to Scruffy Brothers Supply Company terms 4/10, 1/30. The motors cost Charlie $26 each May 16 One defective motor was returned to Charlie May 23 Received payment in full from Scruffy Brothers. Round to nearest dollar. Instructions Journalize the May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual Inventory system. You may omit explanations. Round amounts to nearest dollar. T TTF Paragraph : Arial : 3 (12pt) - T. %DOQETES T' T. Words Path: P QUESTION 103 For each of the following determine the missing amounts Tint Sanx and Submit to save and submit. Click Save All Answers to save all answers

Answer 1

Date	General Journal	Debit	Credit
May 13	Accounts Receivable	$360
	Sales Revenue		$360
May 13	Cost of Goods Sold	$208
	Inventory		$208
May 16	Sales Returns and Allowances	$45
	Accounts Receivable		$45
May 16	Inventory	$26
	Cost of Goods Sold		$26
May 23	Cash	$302
	Sales Discounts ($315 × .04)	$13
	Accounts Receivable ($360 – $45)		$315