• Apr. 9: Dish Mart sells 25 sets of cutlery to Bella Davies on credit for $350 per set. The cost per set to Dish Mart is $150 per set. Terms of the sale are 2/15, n/60, invoice date April 9. DR CR DR CR

• Apr. 9: Dish Mart sells 25 sets of cutlery to Bella Davies on credit for $350 per set. The cost per set to Dish Mart is $150 per set. Terms of the sale are 2/15, n/60, invoice date April 9. DR CR DR CR

Name: Using the accounts listed below, record journal entries for the follow
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Using the accounts listed below, record journal entries for the following transactions for Dish Mart, which uses the perpetual inventory system: • Apr. 13: Bella returns five of the cutlery sets from the April 9 sale to Dish Mart for a full refund. D

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 7SEA

See similar textbooks

Similar questions

Using the accounts listed below, review the following transactions for April Anglers and record any required journal entries. April Anglers uses the periodic inventory system: Accounts Payable| Merchandise Inventory Sales Accounts Purchases Sales Discounts Receivable Sales Returns and Cash Purchase Discounts Allowances Cost of Goods Purchase Returns and Sales Tax Payable Sold Allowances PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). Oct. 4: April Anglers purchases 80 fishing poles at $40 each with cash. DR CR Oct. 5: April Anglers purchases 120 fishing poles at $30 each on credit. Terms of the purchase are 3/15, n/30, invoice date October 5. DR CR Oct. 12: April Anglers discovers 15 of the fishing poles are damaged from the October 4 purchase and returns them to the supplier for a full refund. DR CR Oct. 13: April Anglers also discovers that 35 of the fishing poles from the October 5…
Using the accounts listed below, record journal entries for the following transactions of Furniture Warehouse, which uses the perpetual inventory system: Accounts Payable Merchandise Inventory Sales Accounts Receivable Purchases Sales Discounts Cash Purchase Discounts Sales Returns and Allowances Cost of Goods Sold Purchase Returns and Allowances Sales Tax Payable PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). Aug. 3: Sold 15 couches at $500 each to a customer, credit terms 2/15, n/30, invoice date August 3; the couches cost Furniture Warehouse $150 each. DR CR DR CR Aug. 8: Customer returned 2 couches for a full refund. The merchandise was in sellable condition at the original cost. DR CR DR CR Aug. 15: Customer found 4 defective couches but kept the merchandise for an allowance of $1,000. DR…
Using the chart of accounts below. Prepare a journal entries of Quarantino Covidap under perpetual inventory system. Thank you!
Using the chart of accounts, prepare a journal entry under perpetual inventory system. Thank you!
Using the chart of accounts, prepare a journal entry under periodic inventory system. Thank you!
Directions: Read each problem and do what is required. Write your answer on the table provide. Take note that the perfect score in each item Is 20 points with a corresponding one-point deduction in every incorrect Activity 2: Problem Solving answer. I. A company had the following transactions during December: 12/1/2020 - Sold merchandise on credit for PHP5.000, terms 3/10, n/30. The items sold had a cost of PHP3,500. 12/2/2020 - Purchased merchandise for cash, PHP720. 12/4/2020 - Purchased merchandise on credit for PHP2,600, terms 1/20, n/30. 12/6/2020 - Issued a credit memorandum for PHP300 to a customer who returned merchandise purchased on November 29. The returned items had a cost of PHP210. 12/10/2020 - Received payment for merchandise sold on December 1. 12/14/2020 - Received a credit memorandum for the return of faulty merchandise purchased on December 4 for PHP600. 12/20/2020 - Paid freight charges of PHP200 for merchandise ordered last month (FOB shipping point). mal…
Using the chart of accounts below. Prepare a journal entries of Quarantino Covidap under periodic inventory system.
Each time an entry is recorded in the purchases journal, the credit would be entered in the accounts payable column accounts receivable column purchases column supplies column
Instructions: Using both periodic and perpetual inventory system, you are required to prepare the following: 1. Chart of Accounts 2. Comparative Journal Entries
Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required:
Review the following transactions for Dish Mart and record any required journal entries. Note that all purchase transactions are with the same supplier.
Rules of debit and credit for periodic inventory accounts Complete the following table by indicating for A through G whether the proper answer is debit or credit: