Sturebridge Electronics, an electronics supply company, uses the perpetual inventory system with a subsidiary inventory ledger to
Question:
Sturebridge Electronics, an electronics supply company, uses the perpetual inventory system with a subsidiary inventory ledger to maintain control over an inventory of thousands of electronic parts. The quantities and costs for three of the parts in inventory follow:
Your job is to do the following:
1. Enter the preceding beginning balances in the inventory record forms; beginning inventory is $543.
2. Journalize and post the following transactions.
Transcribed Image Text:
Part No. Quantity on Hand Cost per Unit KT88 8 $20.00 EL34 19 17.00 12AX7 10 6.00
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STUREBRIDGE ELECTRONICS GENERAL JOURNAL PAGE 2 Date 201X Account Titles and Description PR Dr Cr Nov 10 Merchandise Inventory 114 6 3 0 00 Accounts Pa...View the full answer
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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