On March 2, Metlock Company sold $882,900 of merchandise to Ivanhoe Company on account, terms 3/10, n/30. The cost of the merchandise sold was $527,900. (a) On March 6, Ivanhoe Company returned $107,600 of the merchandise purchased on March 2. The cost of the merchandise returned was $66,800. (b) (c) On March 12, Metlock Company received the balance due from Ivanhoe Company.

^ Presented below are transactions related to Concord Corporation. 1. 2. 3. (a) On December 3, Concord Corporation sold $662,200 of merchandise on account to Sarasota Co., terms 4/10, n/30, FOB shipping point. The cost of the merchandise sold was $351,200. On December 8, Sarasota Co. was granted an allowance of $26,600 for merchandise purchased on December 3. On December 13, Concord Corporation received the balance due from Sarasota Co. Prepare the journal entries to record these transactions on the books of Concord Corporation using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Dec. 3 Dec. 8 > Account Titles and Explanation (To record credit sale) norcal_archives_20....zip W QCA 5.docx W Debit response essay.docx 1 Credit

Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.   CHART OF ACCOUNTS Shore Co. General Ledger   ASSETS 110 Cash 121 Accounts Receivable-Blue Star Co. 125 Notes Receivable 130 Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment   LIABILITIES 210 Accounts Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable   EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary…

Information related to Blossom Company is presented below. On April 5, purchased merchandise on account from Swifty Company for $27,900, terms 3/10, net/30, FOB shipping point. On April 6, paid freight costs of $400 on merchandise purchased from Swifty. On April 7, purchased equipment on account for $30,500. On April 8, returned $3,800 of merchandise to Swifty Company. On April 15, paid the amount due to Swifty Company in full. 1. 2 3. 4. 5. Prepare the journal entries to record these transactions on the books of Blossom Company under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation No. 1. N 2. 3. 4. 5. Debit Credit

A company purchased $8, 200 of merchandise on June 15th with terms of 3/10, n/45. on June 20, it returned $410 of that merchandise. on June 24th it paid the balance owed for the merchandise taking any discount it was entitled to. The cash paid ok june 24th is a) 8, 200 b) 7, 790 c) 7,556 d) 7,597 e) 7, 954

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

On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms 2/10, n30. The cost of the items sold is $4,500. Klein uses PERPETUAL inventory system and the GROSS METHOD of accounting for sales. Babson pays the invoice on March 17th and takes the appropriate discount. What is the journal entry Klein makes on March 17th?