Presented below are two independent situations. (Credit account titles are automatically indented when amount is entered....
Exercise 8-03 Presented below are two independent situations. (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) (b) On January 6, Brumbaugh Co. sells merchandise on account to Pryor Inc. for $7,000, terms 2/10, 1/30. On January 16, Pryor Inc. pays the amount due. Prepare the entries on Brumbaugh's books to record the sale and related collection. (Omit cost of goods sold entries.) On...
Exercise 8-03 Your answer is partially correct. Try again. Presented below are two independent situations. (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) (b) On January 6, Brumbaugh Co. sells merchandise on account to Pryor Inc. for $7,000, terms 2/10, n/30. On January 16, Pryor Inc. pays the amount due. Prepare the entries on Brumbaugh's books to record the sale and related collection....
1. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 2. Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous question.) 3.Prepare a trial balance on April 30, 2020. Vera Ernst is a licensed dentist. During...
Question 1 of 2 ./15 E View Policies Current Attempt in Progress On January 6, Bramble Corp. sells merchandise on account to Harley Inc. for 58,100, terms 3/10,130. On January 16, Harley pays the amount due Prepare the entries on Bramble Corp's books to record the sale and related collection (Omit cost of goods sold entries) (Credit account titles are automatically Indented when amount is entered. Do not indent vonually. Record journal entries in the order presented in the problem)...
Journalize The Following Adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 1,527.) 1. Services performed for customers through February 27, 2022, but unbilled and uncollected were $4,180. 2. Received notice that a customer who was billed $220 for...
Presented below are two independent transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) a. Tony’s Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 2% fee. What entry should Tony’s make? b. Marigold Company sold its accounts receivable of $75,000. What entry should Marigold make, given a service charge of 1% on the amount of receivables sold? Account Titles and Explanation Debit Credit a. b.
Need answers for part d. Thank you. We were unable to transcribe this imageJournalize the February transactions credit account titles are automatically indented when amount is entered. Do not indent maกually. Ifo entry is required select journal entries in the order presented in the problem.) No Entry for the account titles and enter 0 for the amounts. Record Date Account Titles and Explanation Debit Feb. 1 Cash 13260 Common Stock Paid-in Capital in Excess of Par Value-Common St 7260 (To...
Exercise 8-8 Presented below are two independent situations. On April 2, Jennifer Elston uses her JCPenney Company credit card to purchase merchandise from a JCPenney store for $1,000. On May 1, Elston is billed for the $1,000 amount due. Elston pays $700 on the balance due on May 3. On June 1, Elston receives a bill for the amount due, including interest at 1.0% per month on the unpaid balance as of May 3. Prepare the entries on JCPenney Co.’s...
Current Attempt in Progress Your answer is partially correct. On January 10, Molly Amise uses her Sheridan Company credit card to purchase merchandise from Sheridan Company for $2,200. On February 10, Molly is billed for the amount due of $2,200. On February 12, Molly pays $1,000 on the balance due. On March 10, Molly is billed for the amount due, including interest at 3% per month on the unpaid balance as of February 12. Prepare the entries on Sheridan Company's...
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...