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Posted on Aug 12, 2024

1. Paid cash to purchase $78,000 of merchandise inventory 2. The goods that were purchased in Event 1 wore delivered FOB destination Freight costs of

1. Paid cash to purchase $78,000 of merchandise inventory 2. The goods that were purchased in Event 1 wore delivered FOB destination Freight costs of $1,560 were paid in cash by the responsible party 3b. Recognized $45,900 of cost of goods sold. 4a. Junkers Stash customers retuned merchandise that was sold for $2,260 4b. The merchandse returned in Event 4a had cost Junker's Stash $1,330 5. The merchandse in Event 3a was sold to customers FOB destination. Freight costs of $1,730 were paid in cash by the responsble party. 6a. The customers paid for the merchandise sold in Event 3a within the discount period. Recognized the sales discount 6b. Collected the balance in the accounts receivable account. 7. Paid cash of $7,05Q for seling and administrative expenses 8. Sold the land for $9,500 cash a. Record the above transactions in a financial statements model. The fist event is recorded as an example. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to Indicate the element is not affected by the event. Enter any deareases to account balances and sign.) with minus JUNKER'S STASH Financial Statements Model Balance Sheet Income Statement Revenuel ExpeseNet Statement of Cash Flow Assets Stockholders' Equity -Net Income Gain EventCash Accounts +Inventory Common Land Retained 88,000+ (78,000)+ 15800 78.000 Beg bal. 12,600 78.000 38,400 NA 2. 3b 4a 6a eb. End bal. 10.000 93,800 + 2.60078000 38,400 1. Paid cash to purchase $78,000 of merchandise inventory 2. The goods that were purchased in Event 1 wore delivered FOB destination Freight costs of $1,560 were paid in cash by the responsible party 3b. Recognized $45,900 of cost of goods sold. 4a. Junkers Stash customers retuned merchandise that was sold for $2,260 4b. The merchandse returned in Event 4a had cost Junker's Stash $1,330 5. The merchandse in Event 3a was sold to customers FOB destination. Freight costs of $1,730 were paid in cash by the responsble party. 6a. The customers paid for the merchandise sold in Event 3a within the discount period. Recognized the sales discount 6b. Collected the balance in the accounts receivable account. 7. Paid cash of $7,05Q for seling and administrative expenses 8. Sold the land for $9,500 cash a. Record the above transactions in a financial statements model. The fist event is recorded as an example. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to Indicate the element is not affected by the event. Enter any deareases to account balances and sign.) with minus JUNKER'S STASH Financial Statements Model Balance Sheet Income Statement Revenuel ExpeseNet Statement of Cash Flow Assets Stockholders' Equity -Net Income Gain EventCash Accounts +Inventory Common Land Retained 88,000+ (78,000)+ 15800 78.000 Beg bal. 12,600 78.000 38,400 NA 2. 3b 4a 6a eb. End bal. 10.000 93,800 + 2.60078000 38,400