chandise vertory of $456,000 in January and $530,500 in February. Assume Thiel pays for inventory purchases 40% in the month of the purchase and 60% in the month after purchase. The Accounts Payable balance on December 31 is $98,150. Prepare a schedule of cash payments for purchases for January and February ( a input field is not used in the table leave the input field empty, do not enter a zero) Cash Payments Total merchandise inventory purchases Cash Payments Merchandise Inventory: Dec-Dec. 31 Accounts Payable, paid in Jan. Jan-Jan merchandise inventory purchases paid in Jan. Jan-Jan merchandise inventory purchases paid in Feb. Feb-Feb. merchandise inventory purchases paid in Feb. Total payments for merchandise inventory January January February February

Assume the perpetual inventory; system is used unless stated otherwise. Round all numbers to the nearest whole dollar unless stated otherwise. Journalizing sales transactions Journalize the following sales transactions for Antique Mall. Explanations are not required. The company estimates sales returns at the end of each month.

Skysong Company's record of transactions for the month of April was as follows. (b) Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. Purchases Sales April 1 (balance on hand) 1,800 @ $5.60 April 3 1,500 @ $10.00 4 4,500 @ 5.70 9 4,200 @ 10.00 8 2,400 @ 6.00 11 1,800 @ 11.00 Inventory $ 13 3,600 @ 6.10 21 2,100 @ 6.20 27 22 23 3,600 @ 11.00 2,700 @ 12.00 eTextbook and Media 29 1,500 @ 6.40 13,800 Save for Later 15,900 (1) FIFO $ (2) LIFO 11790 Attempts: 0 of 3 used Submit Answ

Baird Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: Required purchases (on account) April $ 120,000 Required A Required B Baird Books' accountant prepared the following schedule of cash payments for inventory purchases. Baird Books' suppliers require that 95 percent of purchases on account be paid in the month of purchase; the remaining 5 percent are paid in the month following the month of purchase. Required a. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter. Complete this question by entering your answers in the tabs below. Payment for current accounts payable Payment for previous accounts payable Total budgeted payments for inventory May $ 140,000 Complete the schedule of cash payments for…

Stuart Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: Required purchases (on account) Stuart Books' accountant prepared the following schedule of cash payments for inventory purchases. Stuart Books' suppliers require that 95 percent of purchases on account be paid in the month of purchase; the remaining 5 percent are paid in the month following the month of purchase. Required a. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter. Required A Complete this question by entering your answers in the tabs below. Required B April $ 106,000 Payment for current accounts payable Payment for previous accounts payable Total budgeted payments for inventory $ Complete the schedule of cash payments for inventory…

Recording Sales Transactions Jeet Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April: a. On April 1, Jeet purchased merchandise on account from Reece with credit terms of 2/10, n/30. The selling price of the merchandise was $3,100, and the cost of the merchandise sold was $2,225. b. On April 1, Jeet paid freight charges of $250 cash to have the goods delivered to its warehouse. c. On April 8, Jeet returned $800 of the merchandise. The cost of the merchandise returned was $500. d. On April 10, Jeet paid Reece the balance due. Required: Prepare the journal entries to record these transactions on the books of Reece Company. For a compound transaction, if those boxes in which no entry is required, leave the box blank. April 1 (Recorded sale on account) April 1 (Recorded cost of merchandise sold) April 8 (Record return of merchandise) April 8

Please Do both questions Delphino’s has sales for the year of $127,300 and cost of goods sold of $86,700. The firm carries an average inventory of $14,300 and has an average accounts payable balance of $13,600. What is the inventory period?   81.36 days   60.20 days   58.68 days   89.02 days The Lumber Yard has projected sales for April through July of $152,400, $161,800, $189,700, and $196,400, respectively. The firm collects 52 percent of its sales in the month of sale, 46 percent in the month following the month of sale, and the remainder in the second month following the month of sale. What is the amount of the July collections?   $181,508   $122,852   $189,819   $192,626

Jordan Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory Required purchases (on account) April $ 106,000 May $ 126,000 June $ 138,000 Jordan Books' accountant prepared the following schedule of cash payments for inventory purchases Jordan Books' suppliers require that 85 percent of purchases on account be paid in the month of purchase, the remaining 15 percent are paid in the month following the month of purchase Required a. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter Complete this question by entering your answers in the tabs below. Required A Required B Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. Schedule of Cash Payments for Inventory Purchases…