O'Brien Company is a manufacturer of purses. They sell products to Maureen, Inc., a women's clothing store. Both companies use perpetual inventory systems. On June 2, 2020, O'Brien Company sold 400 purses on account to Maureen, Inc.  O'Brien's cost was $40,000 ($100 each) and the selling price was $60,000 ($150 each) with terms of 1/15, n/30. Prepare the June 8 journal entry(ies) for O'Brien Company.

Ja alize the following sales transactions for Klein Company. Explanations are not required. April 1. Klein company sold merchandise inventory for $230. The cost of the inventory was $145. The customer paid cash. Cline company was running a promotion in the customer receive a $15 award at the time of sale that can be used at a future date on any Cline company merchandise. May 15. The customer uses the $15 award when purchasing merchandise inventory for $60. The cost of the inventory was $23. The customer paid cash. 

The question is in the photo. Thanks!

Maraton Inc. imports gourmet coffee and sells it to local restaurants. All sales are made on account with terms net 30. Maraton Inc. uses the perpetual inventory method and the first-in first out costing method. At the beginning of the year, Maraton Inc. had the following account balances 1. Accounts receivable balance of $3,000 and an allowance for doubtful accounts of $800. All the amounts were owed from A Ltd. 2. Opening inventory of 100 units at $50 per unit. The company had the following transactions during the fiscal year ended December 31, 2023: Date Feb. 15 Mar 15 May 1 May 30 Aug 1 Sep 25 Transaction Purchase 300 units at $55 per unit on credit. Received $2,000 from A Ltd. Wrote off the remaining balance as uncollectible. Sold 300 units to B Ltd. on account at $110 per unit B Ltd. paid the balance owed from the May 1 sale. Purchased 300 units at $70 per unit on credit. Sold 300 units to C Ltd. on account at $120 per unit. Nov 15 Purchased 200 units at $60 per unit for cash.…

Maraton Inc. imports gourmet coffee and sells it to local restaurants. All sales are made on account with terms net 30. Maraton Inc. uses the perpetual inventory method and the first-in first out costing method. At the beginning of the year, Maraton Inc. had the following account balances 1. Accounts receivable balance of $3,000 and an allowance for doubtful accounts of $800. All the amounts were owed from A Ltd. 2. Opening inventory of 100 units at $50 per unit. The company had the following transactions during the fiscal year ended December 31, 2023: Date Transaction Feb. 15 Purchase 400 units at $55 per unit for cash. Mar 15 May 1 May 30 Aug 1 Sep 25 Received $2,500 from A Ltd. Wrote off the remaining balance as uncollectible. Sold 300 units to B Ltd. on account at $110 per unit B Ltd. paid the balance owed from the May 1 sale. Purchased 300 units at $70 per unit on credit. Sold 300 units to C Ltd. on account at $120 per unit. Nov 15 Purchased 200 units at $65 per unit on credit.…

On July 15, 2021, the Nixon Car Company purchased 2,800 tires from the Harwell Company for $35 each. The terms of the sale were 2/10, n/30. Nixon uses a perpetual inventory system and the net method of accounting for purchase discounts. a. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021.b. Prepare the journal entry for the payment, assuming instead that it was made on August 15, 2021. c.If Nixon instead uses a periodic inventory system, explain any changes to the journal entries created in requirements 1 and 2. The July 15th entry would include a debit to the ________ account instead of to ___________.

On 1 September 2021, Seaforth Sunglasses commenced trading. The company specialises in bulkselling branded and high-quality sunglasses to retailers, with affordable pricing. SeaforthSunglasses is registered for GST and has decided to use perpetual inventory system.By 1 October 2021, the business had 320 pairs of sunglasses on hand that at $44 each. Thefollowing transactions occurred during the months of October and November:OCT 8 Purchased 120 pairs of sunglasses costing $49 each for cash.OCT 15 Summer Glasses (a new client) purchased 215pairs of glasses, on credit. The sellingprice was negotiated to be $70 each.OCT 20 Returned 20 pairs of glasses purchased on October 8, as it was found to be defective.OCT 25 Purchased 95 pairs of sunglasses for $52 each, on creditNOV 3 Purchased 150 pairs of sunglasses for a discount price of $47 each for cash.NOV 8 Sold 195 pair of sunglasses to Glad Glasses for $80 each for cash.NOV 25 Glad Glasses business had gone bankrupt and has decided to…

Jaleh Mehr Is the owner of the retall store 151 Jeans. She purchases Jeans from a number of manufacturers to bring great style and fit to her customers. Prepare journal entries for March 2020 to record the following transactions for a retall store. Assume a perlodic Inventory system. Mar. 2 Purchased jeans from Paige Denim under the following terms: $4,200 invoice price, 2/15, n/60, FOB shipping point. 3 Paid $350 for shipping charges on the purchase of March 2. 4 Returned to Paige Denim unacceptable merchandise that had an invoice price of $400. 17 Sent a cheque to Paige Denim for the March 2 purchase, net of the returned merchandise and applicable discount. 18 Purchased jeans from J Brand under the following terms: $9,680 invoice price, 2/1e, n/30, FOB destination. 21 After brief negotiations, received from J Brand a $2,100 allowance on the purchase of March 18. 28 Sent a cheque to 3 Brand paying for the March 18 purchase, net of the discount and the allowance. View transacfion list…

Please help me

SANTAC is a retailer of computer accessories. SANTAC beginning inventory is Rs.1,200,000 and its purchase during the year are Rs.700,000. Its ending inventory is Rs.300,000. Make the closing entry necessary given that SANTAC uses a periodic inventory system.