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Barber & Co. Chad Funk Inc. Keratin Hair | Styling Room Chad Funk is a hair stylist who opened a business selling hair products He
Barber & Co. Chad Funk Inc. Keratin Hair | Styling Room Chad Funk is a hair stylist who opened a business selling hair products He imports products from around the world and sells to salons in Canada. 1.) Record the Journal Entries for the month of October a) Oct. 1; Purchased $1,400 of hair spray from Orbit Pro; terms 3/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $200 b) Oct. 5: Sold shampoo costing $420 to Barber &Co. for a price of $600 with terms of 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $80 c) Oct.7: Returned $500 of inventory to Orbit Pro due to an error in the Oct. 1 order d) Oct. 10: Paid Orbit Pro for the purchase on October 1. e) Oct. 14: Barber & Co. returned $100 of inventory from the sale on Oct. 5The inventory had a cost of $70. 1) Oct. 22: Received the payment from Barber &Co. on the October 5 sale g) Oct. 23: Purchased $2,000 of hair conditioner from Keratin Hair, terms 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $300. h) Oct. 25: Sold hair gel to Styling Room for an invoice price of $1,000, terms 2/10, n/30, FOB destination. The hair gel had a cost of $700. The appropriate party paid the shipping cost of $150. Oct. 26: Paid for the purchase on October 23. Oct. 31: Received the payment from Styling Room on the October 25 sale. i) j)
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