On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $237,490,...
On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $237,490, terms n/30. The cost of the merchandise sold is $152,560. On March 5, Showcase Co. issues a credit memo for $31,500 for merchandise returned prior to Balboa Co. paying the original invoice on March 29. The cost of the merchandise returned is $18,670. Journalize Balboa Co.’s entries for (a) the purchase, (b) the return of the merchandise for credit, and (c) the payment of the invoice. Refer to the Chart of Accounts for exact wording of account titles.
Homework Answers
Journal entries
| Date | account and explanation | debit | credit |
| Mar 1 | Merchandise inventory | 237490 | |
| Account payable | 237490 | ||
| (To record purchase) | |||
| May 5 | Account payable | 31500 | |
| Merchandise inventory | 31500 | ||
| (To record purchase return) | |||
| Mar 29 | Account payable (237490-31500) | 205990 | |
| Cash | 205990 | ||
| (To record amount paid) | |||
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On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $237,490,...
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On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $263,360, terms n/30. The cost of the merchandise sold is $146,820. Showcase Co. issues a credit memo on March 5 for $29,050 for merchandise returned prior to Balboa Co. paying the original invoice on March 29. The cost of the merchandise returned is $17,020. Journalize Showcase Co.’s entries for (a) the sale, including the cost of the merchandise sold, (b) the credit memo, including the...
Please help Instructions On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co....
Please help
Instructions On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $254,500, terms n/30. The cost of the merchandise sold S152.700. Showcase Co. issues a rmerchandise returned prior to Balboa Co. paying the original invoice on March 29. The cost of the merchandise returned is $17,500. credit memo on March 5 for $30.000 Journalze Showcase Co. 's entries for (a) the sale, inciuding t cost of the merchandise sold, (b) the credit memo,...
sales-related transactions showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $63,3000 Sales...
sales-related transactions showcase Co., a furniture
wholesaler, sells merchandise to Balboa Co. on account,
$63,3000
Sales Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co, on account, 563,300, terms 30. The cost of the merchandise sold is $38,000. Showcase Co. issues a credit memo for 512,700 for merchandise returned prior to Balboa Copaying the original invoice. The cost of the merchandise returned is $7,600 a. Journalize Showcase Co's entries for (1) the sale, including (2) the cost...
Sales-Related Transactions Showcase Co., a furniture wholesaler
Sales-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $63,700, terms n/30. The cost of the goods sold is $38,200. Showcase issues a credit memo for $12,700 for merchandise returned prior to Balboa paying the original invoice. The cost of the merchandise returned is $7,600. a. Journalize Showcase Co.'s entries for (1) the sale, including (2) the cost of the goods sold. (1) (2) b. Journalize Showcase Co.'s entries for (1) the credit memo, including (2) thee...
A Show Me How N LD ... CengageNOW2 Online teaching and learning res Calculator Print Item...
A Show Me How N LD ... CengageNOW2 Online teaching and learning res Calculator Print Item + Comments Sales-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $40,100, terms n/30. The cost of the merchandise sold is $24,100. Showcase Co. issues a credit memo for $8,000 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $4,800. a. Journalize Showcase Co.'s entries for (1) the sale, including...
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30. The cost of the goods sold is $39,200. Showcase issues acreditamo for $13.100 for merchandise reumed prior to Balbos Sales-Related Transed Showcase Co., a furniture wholesaler, sells merchandise te boa Co. on account, $65,300, term saying the original invoice. The cost of the merchandise returned is $7.900 - Journalire Showcase Co.'s entries for (1) the sale, including (2) the cost of the goods sold. a Accounts Receivable-Balboa co Cost of Goods Soldy Fachack MyWort a. Record transactions from the...
NOO Mail Cengage Unlimited Student Dashboard CengageNOW12 Online teaching and learning resource from Ceng eBook Show...
NOO Mail Cengage Unlimited Student Dashboard CengageNOW12 Online teaching and learning resource from Ceng eBook Show Me How Calculator Printem Purchase-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $34,500, terms 1/30. The cost of the merchandise sold is $20,700. Showcase Co. issues a credit memo for $6,200 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $3,700 a. Journalize Balboa Co's entry for the purchase...
whand to be on ding purposes December Arte JU la. Elation EMR Netflix, eBook Show Me...
whand to be on ding purposes December Arte JU la. Elation EMR Netflix, eBook Show Me How Calculator CHART OF ACCOUNTS Balboa Co. General Ledger REVENUE 410 Sales 610 Rent Ravenue 110 Cash 120 Accounts Receivable 125 Notas Recalvable 130 Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment EXPENSES 501 Cost of Goods Sold 521 Delivery...
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On March 1, Sather Co. sold merchandise to Boone Co. on account, $31,800, terms 2/15, n/30.
On March 1, Sather Co. sold merchandise to Boone Co. on account, $31,800, terms 2/15, n/30. The cost of the merchandise sold is $19,000. The merchandise was paid for on March 14. Assume all discounts are taken. Required: Journalize the entries for Sather Co. and Boone Co. for the sale, purchase, and payment of amount due. Refer to the appropriate company's Chart of Accounts for exact wording of account titles.
Please help
Instructions On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $254,500, terms n/30. The cost of the merchandise sold S152.700. Showcase Co. issues a rmerchandise returned prior to Balboa Co. paying the original invoice on March 29. The cost of the merchandise returned is $17,500. credit memo on March 5 for $30.000 Journalze Showcase Co. 's entries for (a) the sale, inciuding t cost of the merchandise sold, (b) the credit memo,...
sales-related transactions showcase Co., a furniture
wholesaler, sells merchandise to Balboa Co. on account,
$63,3000
Sales Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co, on account, 563,300, terms 30. The cost of the merchandise sold is $38,000. Showcase Co. issues a credit memo for 512,700 for merchandise returned prior to Balboa Copaying the original invoice. The cost of the merchandise returned is $7,600 a. Journalize Showcase Co's entries for (1) the sale, including (2) the cost...
Sales-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $63,700, terms n/30. The cost of the goods sold is $38,200. Showcase issues a credit memo for $12,700 for merchandise returned prior to Balboa paying the original invoice. The cost of the merchandise returned is $7,600. a. Journalize Showcase Co.'s entries for (1) the sale, including (2) the cost of the goods sold. (1) (2) b. Journalize Showcase Co.'s entries for (1) the credit memo, including (2) thee...
A Show Me How N LD ... CengageNOW2 Online teaching and learning res Calculator Print Item + Comments Sales-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $40,100, terms n/30. The cost of the merchandise sold is $24,100. Showcase Co. issues a credit memo for $8,000 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $4,800. a. Journalize Showcase Co.'s entries for (1) the sale, including...
30. The cost of the goods sold is $39,200. Showcase issues acreditamo for $13.100 for merchandise reumed prior to Balbos Sales-Related Transed Showcase Co., a furniture wholesaler, sells merchandise te boa Co. on account, $65,300, term saying the original invoice. The cost of the merchandise returned is $7.900 - Journalire Showcase Co.'s entries for (1) the sale, including (2) the cost of the goods sold. a Accounts Receivable-Balboa co Cost of Goods Soldy Fachack MyWort a. Record transactions from the...
NOO Mail Cengage Unlimited Student Dashboard CengageNOW12 Online teaching and learning resource from Ceng eBook Show Me How Calculator Printem Purchase-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $34,500, terms 1/30. The cost of the merchandise sold is $20,700. Showcase Co. issues a credit memo for $6,200 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $3,700 a. Journalize Balboa Co's entry for the purchase...
whand to be on ding purposes December Arte JU la. Elation EMR Netflix, eBook Show Me How Calculator CHART OF ACCOUNTS Balboa Co. General Ledger REVENUE 410 Sales 610 Rent Ravenue 110 Cash 120 Accounts Receivable 125 Notas Recalvable 130 Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment EXPENSES 501 Cost of Goods Sold 521 Delivery...
On March 1, Sather Co. sold merchandise to Boone Co. on account, $31,800, terms 2/15, n/30. The cost of the merchandise sold is $19,000. The merchandise was paid for on March 14. Assume all discounts are taken. Required: Journalize the entries for Sather Co. and Boone Co. for the sale, purchase, and payment of amount due. Refer to the appropriate company's Chart of Accounts for exact wording of account titles.
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