EB 14. LO 6.5 Review the following situations and record any necessary journal entries for Wall World. Dec. 6 Wall World purchases $5,510 worth of merchandise on credit from a manufacturer. Shipping charges are an extra $146 cash. Terms of the purchase are 2/15, n/40, FOB Shipping Point, invoice dated December 6. Dec. 10 Wall World sells $3,590 worth of merchandise to a customer, who pays on credit. The merchandise has a cost to Wall World of $1,400. Shipping charges are an extra $115 cash. Terms of the sale are 4/10, n/30, FOB Destination, invoice dated December 10.

Sales-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $48,700, terms n/30. The cost of the merchandise sold is $29,200. Showcase Co. issues a credit memo for $9,700 as a price adjustment prior to Balboa Co. paying the original invoice. Question Content Area a.  Journalize Showcase Co.’s entries for (1) the sale, including (2) the cost of the merchandise sold. If an amount box does not require an entry, leave it blank. (1)   - Select - - Select -     - Select - - Select - (2)   - Select - - Select -     - Select - - Select -   Question Content Area b.  Journalize Showcase Co.’s entry for the credit memo. If an amount box does not require an entry, leave it blank. blank   - Select - - Select -     - Select - - Select -   Question Content Area c.  Journalize Showcase Co.’s entry for the receipt of the check for the amount due from Balboa Co. If an amount box does not require…

> Journalize the following transactions using the direct write-off method of accounting for Apr. 1 Sold merchandise on account to Jim Dobbs, $6,000. The cost of goods sold is $4,000. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment. If an amount box does not require an entry, leave it blank. Apr. 1 Apr. 1 June 10 Oct. 11 ctible receivables. Oct. 11 ?

Q.22.

QS 9-1 (Algo) Credit card sales LO C1 Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system).  Sold $21,000 of merchandise, which cost $15,800, on Mastercard credit cards. Mastercard charges a 5% fee. Sold $5,100 of merchandise, which cost $3,050, on an assortment of bank credit cards. These cards charge a 4% fee.

Mar 2  sold merchandise on credit to Ryan Co Invoice number 854, for $27,600 (cost is 17,000) Mar 12  received payment from Ryan Co For the March 2 sale less the discount of $552 What is the journal entry

Exercise 1. Ping Co. bought merchandise from Pong Co. Given the following information, determine the amount of purchases to be recorded and the amount of payment. Terms: 5/10, n/30. Show your solutions. Purchases Payment Invoice Date Mar 16 List Price 120,000 90,000 Trade Discount 5%,5% 10%,5% Date Paid Mar 25 Mar 19 Mar 29 Mar 22 180,000 5%, 10%, 15% Apr 03

Hi can you post this transaction for me please

Journalize the following transactions using the allowance method of accounting for uncollectible receivables. Apr. 1 Sold merchandise on account to Jim Dobbs, $7,770. The cost of the merchandise is $3,885. If an amount box does not require an entry, leave it blank. Apr. 1   fill in the blank 95f337068076f92_2 fill in the blank 95f337068076f92_3     fill in the blank 95f337068076f92_5 fill in the blank 95f337068076f92_6 Apr. 1   fill in the blank 95f337068076f92_8 fill in the blank 95f337068076f92_9     fill in the blank 95f337068076f92_11 fill in the blank 95f337068076f92_12 June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. If an amount box does not require an entry, leave it blank. June 10   fill in the blank becc7c06d02c06d_2 fill in the blank becc7c06d02c06d_3     fill in the blank becc7c06d02c06d_5 fill in the blank becc7c06d02c06d_6     fill in the blank becc7c06d02c06d_8 fill in the blank…

2