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all transactions in this layout More info 6 Paid freight bill of $190 on November 4 purchase. 8 Returned half of the inventory purchased on
all transactions in this layout
More info 6 Paid freight bill of $190 on November 4 purchase. 8 Returned half of the inventory purchased on November 4 from Vancouver Company. 10 Sold merchandise inventory for cash, $1,200. Cost of goods, $480. FOB destination. 11 Sold merchandise inventory to Geary Corporation, $10,400, on account. Terms 3/10,n/EOM. Cost of goods, $5,200. FOB shipping point. 12 Paid freight bill of $20 on November 10 sale. 13 Sold merchandise inventory to Cabato Company for $8,800 on account, terms of 2/15, n/45. Cost of goods, $4,840. FOB shipping point. 14 Paid the amount owed on account from November 4 , less return and discount. 16 After negotiations, granted a $50 - allowance to Geary Corporation on November 11 sale. 17 Received defective inventory as a sales return from the November 13 sale, $600. Cost of goods, $330. 18 Purchased inventory of $4,100 on account from Roberts Corporation. Payment terms were 1/10,n/30, FOB destination. 20 Received cash from Geary Corporation, less allowance and discount. 26 Paid amount owed on account from November 18, less discount. 28 Received cash from Cabato Company, less return and discount. 29 Purchased inventory from Shanley Corporation for cash, $11,800, FOB shipping point. Freight in paid to shipping company, $170. Nov. 10: Sold merchandise inventory for cash, $1,200. Cost of goods, $480. FOB destination. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale Step by Step Solution
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