Using the accounts listed below, record journal entries for the following transactions of Furniture Warehouse, which uses the perpetual inventory system: Accounts Payable Merchandise Inventory Sales Accounts Receivable Purchases Sales Discounts Cash Purchase Discounts Sales Returns and Allowances Cost of Goods Sold Purchase Returns and Allowances Sales Tax Payable PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). Aug. 3: Sold 15 couches at $500 each to a customer, credit terms 2/15, n/30, invoice date August 3; the couches cost Furniture Warehouse $150 each. DR     CR       DR     CR       Aug. 8: Customer returned 2 couches for a full refund. The merchandise was in sellable condition at the original cost. DR     CR       DR     CR       Aug. 15: Customer found 4 defective couches but kept the merchandise for an allowance of $1,000. DR     CR

Use the following purchases journal to record the transactions. (If a box is not used in the journal leave the box empty; do not select any information and do not enter a zero. Abbreviation used: Supp. = Supplies) a (Click the icon to view the transactions.) Purchases Journal Page 6 Other Accounts DR Vendor Post. Accounts Merchandise Office Account Post. Date Account Credited Terms Ref. Payable CR Inventory DR Supp. DR Title Ref. Amount 2024 Oct. More Info Oct. 1 Purchased merchandise inventory on account with credit terms of 2/10, n/30 from Milk Co., $2.700, Oct. 11 Purchased office supplies on account from Book Co., $400. Terms were n/EOM. Oct. 24 Purchased furniture on account with credit terms of 4/10, n/60 from Slip Co., $1,600. Print Done

Create General Journal entries

The Inventory module window has journal icons for Select one: O a. inventory sales and inventory purchases b. item assembly and inventory adjustments O c. inventory sales and inventory adjustments O d. all of the above Show Transcribed Text You should use the adjustments journal to record - Select one: O a. adjustments to inventory purchase prices from the supplier as an allowance for damages O b. adjustments to inventory sale prices to customers as an allowance for damages c. adjustments to inventory in stock for damaged goods O d. all of the above

Required information [The following information applies to the questions displayed below.] Nix'lt Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'lt uses the perpetual inventory system). Merchandise inventory т. Nix, Capital T. Nix, Withdrawals Sales Sales discounts $ 46,800 133,300 7,000 163,600 4,700 $ 4,700 110,400 12,100 41,500 5,000 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $44,750.

Prepare the journal entries to record the following transactions on Blossom Company’s books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a)   On March 2, Kingbird Company sold $850,000 of merchandise to Blossom Company on account, terms 2/10, n/30. The cost of the merchandise sold was $500,000. (b)   On March 6, Blossom Company returned $100,000 of the merchandise purchased on March 2. The cost of the merchandise returned was $60,000. (c)   On March 12, Kingbird Company received the balance due from Blossom Company.   No. Date Account Titles and Explanation Debit Credit (a) choose a transaction date                                                           March 2March 6March 12 enter an account title enter a…

Use the following sales journal to record the transactions. All credit sales are terms of n/30. (If a box is not used in the journal leave the box empty; do not select information or enter a zero.) A (Click the icon to view the transactions.) Sales Journal Page Invoice Customer Post. Accounts Receivable DR Cost of Goods Sold DR Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR 2024 Jun. More Info Jun. 1 Sold merchandise inventory on account to Fred Jig, $1,270. Cost of goods, $1,000. Invoice no. 101. Jun. 8 Sold merchandise inventory on account to lan Frog, $2,225. Cost of goods, $1,580. Invoice no. 102. Jun. 13 Sold merchandise inventory on account to Jillian Trump, $380. Cost of goods, $300. Invoice no. 103. Jun. 28 Sold merchandise inventory on account to Glen Whitney, $900. Cost of goods, $610. Invoice no. 104. Print Done