Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

all 3 please n February 13, a jewelry store sells an engagement ring with a sales price of $10,000 to a nervous young man, who

all 3 please image text in transcribed
image text in transcribed
image text in transcribed
n February 13, a jewelry store sells an engagement ring with a sales price of $10,000 to a nervous young man, who pays in cash. The ale is subject to a 9.75 percent saies tax. Tepare the revenue portion of the journal entry by selecting the account names from the drop-down menus and entering the dollar. amounts in the debit or credit columns. Journal entry worksheet On February 13, a jewelry store sells an engagernent ring with a sales price of $10,000 to a nervous young man, who pays in cash. The sale is subject to a 9.75 percent sales tax. On March 1, a designer received a check for $7,500 from a customer for services to be provided after the customer chooses a color scheme for the first floor of her house. On July 31 , the designer completed the design work for this customer. Prepare the July 31 journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. Journal entry worksheet On March 1 , a designer received a check for $7,500 from a customer for services to be provided after the customer chooses a color scheme for the first floor of her house. On July 31, the designer completed the design work for this customer. Fiote: Enter debits befare cred ts Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount owed is now past-due. On June 15, Coolidge meets with Ross and convinces Ross to accept $400 cash and a 30 -day, 10 percent, $600 note payable to replace the account payable. Prepare the June 15 journal entry for Coolidge entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. Journal entry worksheet Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount owed is now past-due. On June 15, Coolidge meets with Ross and convinces Ross to accept $400 cash and a 30 day, 10 percent, $600 note payable to replace the account payable. Note: Enter debits before credits

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

Accounting

Authors: Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliv

9th Edition

130898414, 9780132997379, 978-0130898418, 132997371, 978-0132569309

More Books

Students also viewed these Accounting questions

Question

a. Describe the encounter. What made it intercultural?

Answered: 1 week ago