Question
ABC Corporation follows Perpetual inventory system. The following transactions occur in the month of August. Pass journal entries for the following transactions in an appropriate
ABC Corporation follows Perpetual inventory system. The following transactions occur in the month of August. Pass journal entries for the following transactions in an appropriate format-
- Purchased 1000 units of shoes from Indiana International @ $300 each on account
- Sold 200 units to Ceridian Corporation @ $500 each on account
- Sold 500 units to Semed Inc. @ 550 each on cash
- Paid cash in full to Indiana International
- Purchased 800 units of shoes from CITS @ $450 each on cash
- Sold 100 units to Deeman Corp @ $600 each on cash
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Principles of Financial Accounting chapters 1-17
Authors: John Wild, Ken Shaw, Barbara Chiappetta
23rd edition
1259687740, 1259687747, 978-1259687747
