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9. sales rev is incorrect and 10. sales returns is incorrct, help please Required information [The following information applies to the questions displayed below) Kelly
9. sales rev is incorrect and 10. sales returns is incorrct, help please
Required information [The following information applies to the questions displayed below) Kelly Creations is a wholesaler of hair supplies. Kelly Creations uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis: $ 53, 760 a. Sold merchandise for cash cost of merchandise $30,237) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cont of merchandise $260). c. Sold merchandise (costing $5,890) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (o). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1. Anticipate further returns of merchandise (costing $180) after year-end from sales mado during the year. 290 12,400 6.200 168 300 Journal entry worksheet 1 2 3 4 5 6 7 8 8 9 10 > Anticipate further returns of merchandise after year-end from $300 sales made during the year. Record the entry. te: Enter debits before credits. Transaction f(1) Credit - General Journal Sales Returns and Allowances Sales Revenue Debit 300 300 Dadoptar ... ViewS Hurma Prey 2 14 transaction list Journal entry worksheet The anticipated merchandise returns have a cost of $180. Record the entry. Note: Enter debits before credits Transaction Debit Credit f(2) General Journal Sales Returns and Allowances Cost of Goods Sold 180 180 Daca View OCT E Step by Step Solution
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