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Dzeko Co. Sold 10 shoes fort $1,700 cash Date Accounts titles Debit Credit June 1

Dzeko Co. Sold 10 shoes fort $1,700 cash Date Accounts titles Debit Credit June 1

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 12MC: On January 1, Incredible Infants sold goods to Babies Inc. for $1,540, terms 30 days, and received...
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plz help with question 4 and Confirm whether the 123 previous answers are correct and thanks
60 the options 3,600 Inventory Inventory Accounts Payable 600 1,200 Cash 600 Cash 2,940 Sales Revenue Cost Of Goods Sold Accounts Payable Accounts Payable 1,700 3,600 3,000 Inventory Inventory 1,200 1,700
Transcribed Image Text:60 the options 3,600 Inventory Inventory Accounts Payable 600 1,200 Cash 600 Cash 2,940 Sales Revenue Cost Of Goods Sold Accounts Payable Accounts Payable 1,700 3,600 3,000 Inventory Inventory 1,200 1,700
company is using a perpetual system). 1. On June 1, Dzeko Co. Purchased 30 shoes at $120 each from Nike store on account, terms 2/10, n/30. Date Accounts titles Debit Credit June Inventory 3,600 • 3,600 • Accounts Payable + 2. On June 4, Dzeko Co. returned 5 shoes to Nike store because they didn't meet the specifications. Date Accounts titles Debit Credit June 14 Accounts Payable + 600 + 600 Inventory 3. On June 9, Dzeko Co. paid Nike store in full. Date Accounts titles Debit Credit June Accounts Payable • 3,000 • Inventory 60 2,940 • Cash 4. On June 10, Dzeko Co. Sold 10 shoes for $1,700 cash Date Accounts titles Debit. Credit June 1
Transcribed Image Text:company is using a perpetual system). 1. On June 1, Dzeko Co. Purchased 30 shoes at $120 each from Nike store on account, terms 2/10, n/30. Date Accounts titles Debit Credit June Inventory 3,600 • 3,600 • Accounts Payable + 2. On June 4, Dzeko Co. returned 5 shoes to Nike store because they didn't meet the specifications. Date Accounts titles Debit Credit June 14 Accounts Payable + 600 + 600 Inventory 3. On June 9, Dzeko Co. paid Nike store in full. Date Accounts titles Debit Credit June Accounts Payable • 3,000 • Inventory 60 2,940 • Cash 4. On June 10, Dzeko Co. Sold 10 shoes for $1,700 cash Date Accounts titles Debit. Credit June 1
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