Delmar Industries uses the perpetual inventory method in accounting for inventory. Prepare the necessary adjusting entry for each of the following Independent case using the cost of goods sold account. If an amount box does not require an entry, leave it blank. Case 1 Physical count as of April 30 $43,100 Perpetual inventory records as of April 30 41,800 Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Apr. 30 Merchandise Inventory v 1,300 V 1 Cost of Goods Sold v 2 1,300 V 2 Feedback If an amount box does not require an entry, leave it blank. Case 2 Physical count as of April 30 $37,800 Perpetual inverntory records as of April 30 38,300 Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Apr. 30 Cost of Goods Sold v 1,500 1 Merchandise Inventory 1,500 х 2

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Sold merchandise inventory to Hayes Company,5500,on account .Term3/15, n/35.Cost of goods ,2,530. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expenses related to the sale. We will do that in the following step.

esc Honest Tea, Inc. is a merchandiser. Use the following information to its Inventory balance on its December 31 year-end balance sheet. Note: All purchases of inventory are on account. Cost of Goods Sold during the year January 1 Inventory Sales during the year December 31 Accounts Receivable Purchases of Inventory on Account during the year December 31 Inventory = $. 1 Q A N Click Save and Submit to save and submit. Click Save All Answers to save all answers. 2 W S Ma # 3 E D x 'I X $34,000 $ 4 10,000 77,000 24,000 35,000 C с R % or op F 5 T MacBook Pro V < 6 G Y & 7 H B * 00 つ 8 J N O Save All Answe O 0 K M