Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

11 20 Points A continuacion se presentan varias transacciones relacionadas a la compra o venta de mercanca. Se requiere que indique las cuentas que se

11 20 Points A continuacion se presentan varias transacciones relacionadas a la compra o venta de mercanca. Se requiere que indique las cuentas que se afectan, indicando nombre de la cuenta, efecto (Dbito o Crdito) y cantidad. Ejemplo: Compro equipo en electro por $6.000. Debit EQUIPMENT Credit CASH Amount $6,000. Observe que cuando se pone Debit Credit... y un solo Amount es por que las dos cuentas que se afectan lo hacen por la misma cantidad. Si se afectaran ms de dos cuentas. para cada cuenta tendra que indicar la cantidad. Menke Company is a furniture retailer and uses the perpetual inventory system. Prepare journal entries to record each of these transactions. On January 14, 2010, Menke purchased merchandise inventory at a cost of $20,000. Credit terms were 3/10, /30. Debit Blank 1 Credit Blank 2 Amount Blank 3 The inventory was sold on account for $40,000 on January 21, 2010. Credit terns were 1/10, n/30. Debit Blank 4 Credit Blank 5 Amount Blank 6 Debit Blank 7 Credit Blank 8 Amount Blank 9 The accounts payable was settled on January 23, 2010. Debit Blank 10 Amount Blank 11 Credit Blank 12 Amount Blank 13 Credit Blank 14 Amount

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Libby, Short

6th Edition

978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881

More Books

Students also viewed these Accounting questions

Question

How do the halves of the brain operate interdependently?

Answered: 1 week ago