Prepare the entries for transaction below and indicate what journal it is 19 august sold merchandize that cost $3600 to ultracity co. For $5000 under the credit terms of 3/15, n/60, FOB
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Prepare the entries for transaction below and indicate what journal it is
19 august sold merchandize that cost $3600 to ultracity co. For $5000 under the credit terms of 3/15, n/60, FOB
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- Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalReview the following transactions and prepare any necessary journal entries for Tolbert Enterprises. A. On April 7, Tolbert Enterprises contracts with a supplier to purchase 300 water bottles for their merchandise inventory, on credit, for $10 each. Credit terms are 2/10, n/60 from the invoice date of April 7. B. On April 15, Tolbert pays the amount due in cash to the supplier.Prepare the entries for transaction below and indicate what journal it is 21 august issued a $600 credit memo to ultracity co. For an allowance on good sold on august 19, 2020
- Record the following transactions in general journal form for Ford Education Outfitters and Romero Textbooks, Inc. Ford Educational Outfitters bought merchandise on account from Romero Textbooks, Inc., invoice no. 10594, $1,888.13; terms net 30 days; FOB destination. Romero Textbooks, Inc., paid $90.31 for shipping. Ford Education Outfitters received credit memo no. 513A from Romero Textbooks, Inc., for merchandise returned, $149.93. Required: 1. For Ford Education Outfitters. Round your answers to the nearest cent. GENERAL JOURNAL PAGE DATE DESCRIPTION DOC. NO. POST. REF. DEBIT CREDIT (a) Purchased merchandise from Romero Textbooks, Inc., invoice no. 10594, terms n/30. (b) Credit memo no. 513A for return of merchandise. 2. For Romero Textbooks, Inc. Round your answers to the nearest cent.…Assume that Sohar pipers Cores LLC sold OMR 20000 pipes to the retailer with the credit terms of 2/10 , n/30. The retailer paid OMR 10000 within 10 days. From the following given options, identify the journal entry recorded by the company for the first payment made by credit customer. a. Dr Cash A/C OMR 9800, Dr Sales discount A/C OMR 200 and Cr Accounts receivables A/C OMR 10000 b. Dr Cash A/C OMR 10000 and Cr Accounts receivables A/c OMR 10000 c. Dr Accounts receivables A/C OMR 10000 and Cr Cash A/C OMR 9800, Cr Sales Discount A/C OMR 200 d. None of the given options Clear my choicePrepare the entries for transaction below and indicate what journal it is 2 Aug business sold merchandize inventory to micro universe co. For $4800, terms: 3/10, n/60 FOB. The merchandize had cost $3000
- prepare a journal entry to record transaction Buyer buys merchandise for 3,000, credit terms 2/10 n/30. Merchandise cost 1800Melisandre Merchandising sold merchandise on credit to Ellaria, terms 2/10, r/45, $26,000, on April 6th, 2021, with a cost of $16.000. On April 6th, the journal entry recorded, under the PERIODIC method, would be:Several purchase transactions of the Chopper Pharmacy are presented below. The credit terms of the entity are 3/10, n/30. Oct. 6 Purchased merchandise for cash, P200,000; FOB shipping point. 12 Purchased merchandise on account, P700,000. 15 Returned merchandise purchased on account, P50,000. 17 Paid supplier the amount due. 19 Paid freight charges of 7,000 on merchandise acquired last Oct. 6. Required: Prepare the journal entries. Used periodic system using this accounts title •cash •purchases *purchases return and allowance •accounts payable •frieght in
- Read through the information below for selected transactions during the month of December, 2021 and prepare the required jounal entry to record the transaction. Post each of the entries below to the general ledger T-accounts attached . Sold Merchandise for $5,000 to Lee Corp on account on December 9. Cost of the merchandise was $3,390 and the terms of the sale were 1/15, n/30.Review the following situations and record any necessary journal entries for Letter Depot. Mar. 9 Letter Depot purchases $11,480 worth of merchandise on credit from a manufacturer. Shipping charges are an extra $460 cash. Terms of the purchase are 2/10, n/40, FOB Destination, invoice dated March 9. Mar. 20 Letter Depot sells $7,500 worth of merchandise to a customer who pays on credit. The merchandise has a cost to Letter Depot of $2,850. Shipping charges are an extra $420 cash. Terms of the sale are 3/15, n/50, FOB Destination, invoice dated March 20. If an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used.Review the following situations and record any necessary journal entries for Letter Depot. Mar. 9 Letter Depot purchases $11,490 worth of merchandise on credit from a manufacturer. Shipping charges are an extra $460 cash. Terms of the purchase are 2/10, n/40, FOB Destination, invoice dated March 9. Mar. 20 Letter Depot sells $7,540 worth of merchandise to a customer who pays on credit. The merchandise has a cost to Letter Depot of $2,830. Shipping charges are an extra $420 cash. Terms of the sale are 3/15, n/50, FOB Destination, invoice dated March 20. If an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used. Mar. 9 Mar. 20 Sale on credit Mar. 20 Cost of sale Mar. 20 Shipping charges