Journalize the necessary adjusting entries for the following (partial) trial balance. Based on a physical count, the ending merchandise inventory is $67,000. Unearned revenue at year-end was $4,230. DEBITS Cash 7500 Accts Receivable 17000 Merchandise inventory 86000 Purchases 82000 CREDITS Unearned Revenue 20800 Revenue 193000 Purchase Discounts 4100

Suppose Dave's Discount's Merchandise Inventory account showed a balance of $8,000 before the year-end adjustments. The physical count of goods on hand totaled $7,400. Dave uses a perpetual inventory system. To adjust the accounts, which entry would the company make? O A. OB. O C. O D. Accounts and Explanation Accounts Payable Merchandise Inventory Accounts and Explanation Merchandise Inventory Cost of Goods Sold Accounts and Explanation Cost of Goods Sold Merchandise Inventory Accounts and Explanation Merchandise Inventory Accounts Receivable Debit 600 Debit 600 Debit 600 Credit 600 600 Credit 600 Credit 600 Debit Credit 600

The following purchase transactions occurred during the last few days of Whilczel Company's business year, which ends October 31, or in the first few days after that date. A periodic inventory system is used.   ·         An invoice for P6,000, terms FOB shipping point, was received and entered November 1. The invoice shows that the material was shipped October 29, but the receiving report indicates receipt of goods on November 3.   ·         An invoice for P2,700, terms FOB destination, was received and entered November 2. The receiving report indicates that the goods were received October 29.   ·         An invoice for P3,150, terms, FOB shipping point, was received October 15, but never entered. Attached to it is a receiving report indicating that the goods were received October 18. Across the face of the receiving report is the following notation: "Merchandise not of the same quality as ordered - returned for credit October 19".   ·         An invoice for P3,600 terms FOB shipping…

On December 29 of the current year, Sabre Company sold merchandise for $4, 000 on credit terms, 3/10, n/60. Its accounting period ends December 31. Required Provide the following entries under the gross method. a. To record the merchandise sale. Omit the cost of goods sold entry. b. To record collection of the account, assuming collection took place on January 5 of next year. c. To record collection of the account, assuming collection took place on February 15 of next year. Note: If a line in a journal entry isn't required for a transaction, select "N/A" as the account name and leave the Dr. or Cr. answer blank (zero). 0

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Travis Company purchased merchandise on account from a supplier for $12,300, terms 2/10, net 30. Travis Company paid for the merchandise within the discount period. Under a perpetual inventory system, record the journal entries required for the above transactions. If an amount box does not require an entry, leave it blank. a. b.

prepare a journal entry to record transaction Buyer buys merchandise for 3,000, credit terms 2/10 n/30. Merchandise cost 1800