You are provided with the following information for Bramble Inc., which purchases its inventory from a supplier for cash and has only cash sales. Bramble uses the average cost formula in a perpetual inventory system. Increased competition has recently reduced the price of the product. Date Explanation pr 1 Deginning inventory 6 Purchases 8 Sales 15 Purchases 20 Sales 27 Purchases Units Unit Cost/Price 50 110 (130) 120 (120) 20 (a) Prepare all journal entries for the month of Aprill for Bramble, the buyer. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 1.25. If no entry is required, select "No Entry" for the account itles and enter 0 for the amounts) Date Account Titles and Explanation 1 6 579 91 115 70 103 Debit Credit
You are provided with the following information for Bramble Inc., which purchases its inventory from a supplier for cash and has only cash sales. Bramble uses the average cost formula in a perpetual inventory system. Increased competition has recently reduced the price of the product. Date Explanation pr 1 Deginning inventory 6 Purchases 8 Sales 15 Purchases 20 Sales 27 Purchases Units Unit Cost/Price 50 110 (130) 120 (120) 20 (a) Prepare all journal entries for the month of Aprill for Bramble, the buyer. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 1.25. If no entry is required, select "No Entry" for the account itles and enter 0 for the amounts) Date Account Titles and Explanation 1 6 579 91 115 70 103 Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Problem G-GA (Part Level Submission)
You are provided with the following information for Bramble Inc., which purchases its inventory from a supplier for cash and has only cash sales. Bramble uses the average cost formula in a perpetual inventory system. Increased competition has recently reduced the price of the product.
Date Explanation
Apr. 1 Beginning inventory
6 Purchases
8 Sales
15 Purchases
20 Sales
27 Purchases
Units Unit Cost/Price
50
110
(130)
120
(120)
20
6
$79
91
115
70
103
63
Prepare all journal entries for the month of April for Bramble, the buyer. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 1.25. If no entry is required, select "No Entry" for the account
titles and enter 0 for the amounts.)
Date Account Titles and Explanation
April 1
Debit
Credit
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