Journal entry
No | Transaction | General journal | Debit | Credit |
1 | a | Cash | 79200 | |
Sales revenue | 79200 | |||
2 | b | Cost of goods sold | 42797 | |
Inventory | 42797 | |||
3 | c | Sales return and allowance | 950 | |
Cash | 950 | |||
4 | d | Inventory | 570 | |
Cost of goods sold | 570 | |||
5 | e | Account receivable | 17000 | |
Sales revenue | 17000 | |||
6 | f | Cost of goods sold | 8075 | |
Inventory | 8075 | |||
7 | g | Cash | 8500 | |
Account receivable | 8500 | |||
8 | h | Sales return and allowance | 272 | |
Account receivable | 272 | |||
Required Informstion [The following infometion applies to the questions displayed below Hair World Inc. s a wholesaler...
[The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $22,797). $ 39,200 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $270 ). 450 c. Sold merchandise (costing $4,038 ) to a customer on account with terms...
Required Information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $63,200 a. Sold merchandise for cash (cost of merchandise $34,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $450 ). c. Sold merchandise (costing $6,175 ) to a customer on account with terms...
[The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $75,200 900 a. Sold merchandise for cash (cost of merchandise $40,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $540 ). c. Sold merchandise (costing $7,600 ) to a customer on account with terms n/60....
Required Informstion [The following infometion applies to the questions displayed below Precialon Construction entered Into the following transactions during arecent year z Parhad alldazar Car $274, 000 Eypying 32,000 aranry and a1ning 5242,000 nats da in csTe yeara.. 3 Raplacad the tl trcka an thalldazar t cat a 32,000, arh atl trks inera the alldasar's parnting ieiancy nt Th n anasry an Jarry 30 at heck Car th mant aad an ant Car th wark cmplated an Jamaary 3 Tabrary...
Required Information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $35,200 a. Sold merchandise for cash (cost of merchandise $20,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $240). c. Sold merchandise (costing $3,800 to a customer on account with cerms /60. d....
Required information [The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $75,200 a. Sold merchandise for cash (cost of merchandise $40,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $540 ). c. Sold merchandise (costing $7,600 ) to a customer on account with terms...
Required Information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $63,200 a. Sold merchandise for cash (cost of merchandise $34,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $450 ). c. Sold merchandise (costing $6,175 ) to a customer on account with terms...
Required information [The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $75,200 900 a. Sold merchandise for cash (cost of merchandise $40,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $540 ). c. Sold merchandise (costing $7,600 ) to a customer on account with...
Required information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $75,200 a. Sold merchandise for cash (cost of merchandise $40,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $540 ). c. Sold merchandise (costing $7,600 ) to a customer on account with terms...
Required information [The following information applies to the questions displayed below. James Company began the month of October with inventory of $23,000. The following inventory transactions occurred during the month: a. The company purchased merchandise on account for $34,000 on October 12. Terms of the purchase were 3/10. n/30. James uses the net method to record purchases. The merchandise was shipped fo.b. shipping point and freight charges of $580 were paid in cash. b. On October 31, James paid for...