This information relates to Ginseng Honey Co. 1. On August 5, purchased merchandise from B&O Company...
This information relates to Ginseng Honey Co.
| 1. | On August 5, purchased merchandise from B&O Company for $26,800, terms 3/10, n/30. | |
| 2. | On August 6, paid freight costs of $750 on merchandise purchased from B&O. | |
| 3. | On August 7, purchased equipment on account for $32,800. | |
| 4. | On August 8, returned $3,600 of August 5 merchandise to B&O Company. | |
| 5. | On August 15, paid the amount due to B&O Company in full. |
Prepare the journal entries to record the transactions listed above on Ginseng Honey Co.’s books. Ginseng Honey Co. uses a perpetual inventory system.
Here (below) is what I have so far. I need help filling out the areas indicated with a "??." An explanation as to how/where you got the information from would be greatly appreciated!
| Aug 5 | Inventory | 26800 | |
| Accounts Payable | 26800 | ||
| Aug 6 | Inventory | 750 | |
| Cash | 750 | ||
| Aug 7 | Equipment | 32800 | |
| Accounts Payable | 32800 | ||
| Aug 8 | Accounts Payable | 3600 | |
| Inventory | 3600 | ||
| Aug 15 | Accounts Payable | ?? | |
| Inventory | ?? | ||
| Cash | ?? |
Homework Answers
| Aug 5 | Inventory | 26800 | |
| Accounts Payable | 26800 | ||
| Aug 6 | Inventory | 750 | |
| Cash | 750 | ||
| Aug 7 | Equipment | 32800 | |
| Accounts Payable | 32800 | ||
| Aug 8 | Accounts Payable | 3600 | |
| Inventory | 3600 | ||
| Aug 15 | Accounts Payable | 23200 | |
| Inventory | 696 | ||
| Cash (23200*97%) | 22504 |
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This information relates to Ginseng Honey Co.
1.
On August 5, purchased merchandise from B&O Company...
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how to do thus chart thank you.
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