Question
Big Oak Lumber is a lumber yard on Angel Island. Some Big Oaks transactions during the current year are as follows: April 15 Sold Lumber
Big Oak Lumber is a lumber yard on Angel Island. Some Big Oaks transactions during the current year are as follows:
April 15 Sold Lumber on account to Hard Hat construction, $19,700 the inventory subsidiary ledger shows the cost of this merchandise was $10,300
April 19 Purchased Lumber on account from LHP company $ 3,700
May 10 collected in cash the $19,700 account receivables from Hard Hat construction
May 19 paid the $3,700 owed to LHP Company
Prepare the journal entries to record these transactions. (the company uses a perpetual inventory system)
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Payroll Management 2020 Edition
Authors: Steven M. Bragg
1642210366, 978-1642210361
