Question

Problem 2 Betty Croaker Kitchens We Sell Merchandise (we are the seller) Betty Croaker opened Betty Croaker Kitchens on January 2. The following transaction occurred during the month. January 1 -Sold merchandise on account to Phil's Barry Muffins, $230. January 2- Cash sales for the week, $900. January 3 - Received a bill for freight $200 (FOB shipping point) and paid the January 4 - Received a bill for freight $400 (FOB destination) and paid the bill if January 5- Received payment from Phil's Barry Muffins for $225.40 the January 6- Sold merchandise on account to Granny's S January 7 - Issued credit to Granny's Still Cookin' for damaged merchandise January 8- Received payment from Granny's Still Cookin' for $529.20, the Paid $184 for the merchandise. Paid $720 for the merchandise inventory bill if we were responsible for the bill. we were responsible for the debt. balance in the account less the discount Paid $472 for the merchandise. returned, $50. Paid $40 for the merchandise. balance in the account, less the discount. till Cookin', $590. January 9- Paid dividends for the quarter, $250. January 10 -Paid the telephone bill, $400. Chart of Accounts Cost of Goods Sold Delivery Expense Cash Accounts Receivable-Phil's Barry Muffins Accounts Receivable - Granny's Still Cookin' Merchandise Inventory Office Supplies Account Payable -All You Need Supplies Account Payable - Roto Rooters T. Payne, Capital Dividends Rent Expense Telephone Expense Sales Sales Discount Sales Returns and Allowance

make the journal entries for each transaction as the seller

Answer 1

Joerhal En tries Debit) cred Account Titfes D. | 千2.30 $230 Sales tro reond -the Sales on aceo wrnt) |cost of Gooch 외d br.IEy 위89 tro vcord the eost of epeds sold) Cas 2. 900 Sales tro reord the les) Cost of Goodk sold by, 120 Mexchandise Inven y 120 tro record the cost Gede Sold) DY 200 Cath $200 tho veuerd the freight giu paid) y No tyr. | $125.40 4.60 Sates discount Acuounts Receivable -Phills Cro resoid-taa cash ecei ved from customer offer liscouat)

ounal entn Account Ttles Debt ) redt(3) Date DY. codein tro recond -the fales on ae lount) l cast of Goods cal 1472 Merchande nventor tro vecord the cost of Gocde sold) ade Sold by SO Aecounts Receivable- Eyannysk SU olcin rcord the exchandke dnventor Dr. p0 cost of Goods sc ld Ero rerorel the cost of Goods etusned) DY. S 29.20 taler discount Aceounts Receivable - Granny' Kfill codc frD vecovd the cash receved)

Jounal Entries Date Aelount Tittes 4 Dividends $2s0 cash (To reuord -the dividends peald) 10 | Telephone to Pense Cash fu0 0 tro record the tetephone bill pald