Record each transaction of Roses Flower Shop. a. Purchased merchandise for sale on October 1 for $3,600,

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Record each transaction of Rose’s Flower Shop.

a. Purchased merchandise for sale on October 1 for $3,600, to be paid by October 30.

b. Sold merchandise for $900 cash on October 3. The merchandise cost Rose’s $270.

c. Sold merchandise for $1,800 on credit on October 6. The merchandise cost Rose’s $590.

d. Ordered $2,150 of merchandise on October 7 from a supplier.

e. $400 of the merchandise purchased on October 1 spoiled on October 9 and had to be trashed, resulting in spoilage expense.

f. Paid $1,800 on October 10 to suppliers for merchandise purchased on October 1.

g. Received $1,200 on October 16 from customers for sales on October 6.


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Financial Accounting Information For Decisions

ISBN: 978-0324672701

6th Edition

Authors: Robert w Ingram, Thomas L Albright

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