Brockman Variety Store had the following balances as of November 1:

Requirements 1. Record Brockman's November transactions, including the cost of goods sold entries for each sale. 2. Calculate the net realizable value of accounts receivable as of November 30. Print Done Sold $150 of merchandise to Murry's Inc., which paid for the items in cash. The items cost Brockman $130 November 3 Sold $300 of merchandise to Lira Co., which paid by credit card The credit card company charges Brockman a fee of 3% on credit card sales. Brockman's cost of this merchandise was $95. Sold $1,800 of merchandise to Wave Rock on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $550. Sold $1,900 of merchandise to Aberle Shoppes on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $680. Sold $920 of merchandise to Balsa Creek Inc., on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $368 November 5 November 10 November 11 November 12 November 18 Wave Rock reported that some of the merchandise received was in a different color than ordered so it returned $110 of the merchandise. The cost to Brockman was $44 November 20 Aberle Shoppes paid the balance of what it owed for the purchase on November 11 Balsa Creek Inc., returned $320 of the merchandise for a refund. Brockman's cost of the returned merchandise was $128 November 22 November 22 Balsa Creek Inc., paid the remaining balance owed for the purchase on November 12 Sold $4,500 of merchandise to Cartwright Co. on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $1,800. November 23 November 25Wave Rock paid the balance of what it owed for the purchase on November 10 Discovered that Elmer Enterprises, a customer owing $200 from a July transaction, declared bankruptcy and there is no chance of collection. Wrote off the balance of Elmer's account November 26 November 27 Sold $800 of merchandise to Daines's One-Stop-Shop on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $240 November 1-30 Sales on account during the month of November for transactions not listed individually totaled $7,000. Cost of goods sold for these sales totaled $2,800. Credit card sales on account during the month of November for transactions not listed individually totaled $2,100. The credit card company charges Brockman a fee of 3% on credit card sales. Cost of goods sold for these sales totaled $890 Cash collections on account during the month of November for transactions not listed individually totaled $4,400. (No discounts were taken by these customers.) Brockman made the adjusting entries for the month to accrue for estimated future returns. Brockman estimates that 3% of total sales will be returned. Brockman assumes that cost of goods sold is 30% of sales. Brockman made an adjusting entry to estimate uncollectible account expense for the month of November. Brockman estimates its uncollectible-account expense as 3% of total credit (on account) sales for the month. November 1-30 November 1-30 November 30 November 30 More Info Accounts Receivable $4,800 Allowance for Uncollectible Accounts $350 Print Done Brockman Variety Store had the following balances as of November 1 The fellowing selected transactions cocurred at Brockman Variety Store during the month of November (Click the ican to view the transactions.) Reac the reguirements (cick the lcon to view the bailancea.) Requirement 1. Record Broc November kman's Novembor transactions, including the cost of goods sold entries for ach sala. (Use the gross method to record the sales transa actions. Record debits first, then credits, Exclude explanations from any jounal entries.) Sold $150 of merchandise to Murry's Inc., which paid for the items in cash. The items cost Brockman $130, Do not rcond the cost of gcods sold entry yet, We wil do that in the next step, Journal Entry Date Debit Credit Now recard t the cost of gaods sold for the sale of mercnandise on Novermber 3. ournal Entry Date Accounts Debit Credit Nov 3 November 5: Sold $300 of merchandise to the next step. r Co which pa by c edit card. The c card company ch rges Brockman ee o 3% on cre t card sales. Brock ans costof this me han se was ses no eco d the cost of goods so d en y a wew the in Journal Entry Date Accounts Debit Credit Now 5 Now recard the cost of gaods sold for the sale of mercnandise on November 5. Journal Entry Date Accounts Debit Credit Nov 5 November 10: Sold S1,800 of merchandise to Wave Rock on account. Terms were 210, net 30. Brockman's cost of this merchandise was S550. Do not record the cost of goods sold entry yet. We will do that n the next step Journal Entry Date Dobit Credit Nov 10 Now record the cost of goods sold for the sale of merchandise on November 10. Journal Entry Date Debit Credit Nov 10 November 11: Sold $1,800 of merchandise to Aberte Shoppes on account. Tems were 210, net 3D. Brockmans cost of this merchandise was $680. Do not record the coet of goods sold entry yet. We will do that in the next step Journal Entry Date Accounts Debit Credit Nov 11 Now recond the cost of gooda sold for the ale of merchandise on November 11. Jounal Entry Date Debit Credit Nov 11 November 12: Sold $92D of merchandise to Balsa Creek Inc., on account. Terms were 2/10, nel 3D. Brockman's cost of this merchandise was $3B8. Do not record the cast of goods sald entry yet. We will do that in the nexl step Journal Entry Date Accounts Debit Credit Nov 12 Now record the cost of goods sokd for the sale of merchandise on November 12 Journal Entry Date Accounte Debit Credit Nov 12 November 18: ave Rock eporod that some the merchandise re e ved was in d erent color than ordered so it re u med S1 10 he merchandise. The cos t to Brockman was $ 44. Do not record the inventory entry yet we wil do hat in the next step. the invan Journal Entry Dato Debit Credit Nov 18 Now record the inventery entry far the return of merchandise n N avember 1 a. Journal Entry Date Debit Credit Nov 18 November 20 Aberle Shoppes paid the balance of what it owed for the purchase on November 11 ournal Entry Date Accounts Debit Credit Now 20 November 22: Balsa Creek Inc, returned $320 of the merchandise for a retund. Brockman's cos: of the retumed merchandise was $128. Do not record the inventory entry ye:. We wil do that in the next step entry ye:. Journal Entry Date Accounts Debit Credit Now 22 Now record the inventory entry for the retum of merchandise on Novembar 22. Journal Entry Date Accounts Debit Credit Now 22 Novernber 22: Balsa Creek Inc., paid the remaining balance owed for the purchasen Novemzer 12. Journal Entry Date Debit Credit Nov 22 November 23: Sold S4,500 of merchandise to Cartwright Co. on account. Terms were 210, net 30. Brockman's cost of this merchandise was $1,800. Do not record the cost of goods sold entry yet. We wil do that in the next step Journal Entry Date Accounts Debit Credit Nov 23 Now record the cost of goods sold for the sale of merchandise on November 23. Journal Entry Date Accounts Debit Credit Nov 23 Navember 25: Wave Rock pai the ba ance af wha it owed for the purchase onNovenber 10. Journal Entry Date Accounts Debit Credit Nov 25 November 20: Discovered that Elmer Enterprises, a custom er owing $200 from a July transacton, declared bankruptcy and there is no chancs of collection. Wrote off the balanoa of Elmers sccount ollection. Wrote ofth I . Journal Entry Date Accounts Debit Credlt Nov 28 November 27: Sold $aDD of merchandise to Daines's One-Slop Shop en account. Terms were 2110, net 30. Brockman's oost of this merchandise was 5240. Do not record the oost af goads sold entry yet We will do that in the next step Journal Entry Date Accounts Debit Credit Nov 27 Navw record the cost of goois sald for the salr af merchardise an Naember 27 Journal Entry Accounts DebltCredit Date Nov 27 November1-30 Seles on account during the month of Novmber for transactions not listed individually totaled ST,D00. Cos: of goods soid for these sales totaled $2,B00. Do not record the cost of goocs sold entry yet. We will do that in the net step Journal Entry DebitCredit Accounts Date Nov 1-30 account dur November Naw record the cost of goods sald for sales on acoount during the month af November for transactions not lisled individually. Journal Entry Credit Debit counts Date Now 1-30 November 1-30: Credit card a es on aocount duri he month 0 November or record the rnst of goods snkd entry yet. W will do that irn the next stei a sections not listed individ al to a ed S2 100 T e cred card com a ch e Bro kman a ee of 3% oed ca sa e Cost o de sc o ese Bale t al d 80 Do not Journal Entry Date Accounts Debit Credit Now 1-30 Now record the cost of goods sold for the credit card sales on account during the month of November for transactions not isted ndividuall Journal Entry Date Accounts Debit Credit Now 1-30 Novber1-30: Cash collections on accut during the month of November for transartians nnt listed individually totakd $4,400. (No discounts wee taken by these ustamers.) Journal Entry Date Accounts Debit Credit Nov 1-30 nvem1bnr 30. ro man made hac ust ng en nns or hit min h o ac crue nr ns ma ed u ure eturns Brockman e stima es hat 3 otto a salm will be ro urned. B ockman assumns hat cnst gno s saltis 0 nt sales. First, prepare the adjusting entry for the estimated sales to be returned. Do not prepare the entry for the cost of goods sold yet. We will do this in the next stop, (Round your answer to the nearest whole dollar.) the next stop. Journal Entry Date Accounts Deblt Credlt Now 30 Now prepare the entry for the cost of goods sold. (Round your answer to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit Nov 30 November 0: rockman made an adjusting entry o ostimate unor oc ble account expenso or e mant a N ve bor whole dollar.) kman es mates s uno lest blo-accoun xpense as % total credit on ao unt sales or e month Round our ans er to en est Journal Entry Date Accounts Debit Credit Nov 30 Requirement 2. Calculate the net realizable value of sccounts recelvable as of November 30 The net realizable value of accounts receivable as of November 30 is$ Requirements 1. Record Brockman's November transactions, including the cost of goods sold entries for each sale. 2. Calculate the net realizable value of accounts receivable as of November 30. Print Done Sold $150 of merchandise to Murry's Inc., which paid for the items in cash. The items cost Brockman $130 November 3 Sold $300 of merchandise to Lira Co., which paid by credit card The credit card company charges Brockman a fee of 3% on credit card sales. Brockman's cost of this merchandise was $95. Sold $1,800 of merchandise to Wave Rock on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $550. Sold $1,900 of merchandise to Aberle Shoppes on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $680. Sold $920 of merchandise to Balsa Creek Inc., on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $368 November 5 November 10 November 11 November 12 November 18 Wave Rock reported that some of the merchandise received was in a different color than ordered so it returned $110 of the merchandise. The cost to Brockman was $44 November 20 Aberle Shoppes paid the balance of what it owed for the purchase on November 11 Balsa Creek Inc., returned $320 of the merchandise for a refund. Brockman's cost of the returned merchandise was $128 November 22 November 22 Balsa Creek Inc., paid the remaining balance owed for the purchase on November 12 Sold $4,500 of merchandise to Cartwright Co. on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $1,800. November 23 November 25Wave Rock paid the balance of what it owed for the purchase on November 10 Discovered that Elmer Enterprises, a customer owing $200 from a July transaction, declared bankruptcy and there is no chance of collection. Wrote off the balance of Elmer's account November 26 November 27 Sold $800 of merchandise to Daines's One-Stop-Shop on account. Terms were 2/10, net 30. Brockman's cost of this merchandise was $240 November 1-30 Sales on account during the month of November for transactions not listed individually totaled $7,000. Cost of goods sold for these sales totaled $2,800. Credit card sales on account during the month of November for transactions not listed individually totaled $2,100. The credit card company charges Brockman a fee of 3% on credit card sales. Cost of goods sold for these sales totaled $890 Cash collections on account during the month of November for transactions not listed individually totaled $4,400. (No discounts were taken by these customers.) Brockman made the adjusting entries for the month to accrue for estimated future returns. Brockman estimates that 3% of total sales will be returned. Brockman assumes that cost of goods sold is 30% of sales. Brockman made an adjusting entry to estimate uncollectible account expense for the month of November. Brockman estimates its uncollectible-account expense as 3% of total credit (on account) sales for the month. November 1-30 November 1-30 November 30 November 30 More Info Accounts Receivable $4,800 Allowance for Uncollectible Accounts $350 Print Done Brockman Variety Store had the following balances as of November 1 The fellowing selected transactions cocurred at Brockman Variety Store during the month of November (Click the ican to view the transactions.) Reac the reguirements (cick the lcon to view the bailancea.) Requirement 1. Record Broc November kman's Novembor transactions, including the cost of goods sold entries for ach sala. (Use the gross method to record the sales transa actions. Record debits first, then credits, Exclude explanations from any jounal entries.) Sold $150 of merchandise to Murry's Inc., which paid for the items in cash. The items cost Brockman $130, Do not rcond the cost of gcods sold entry yet, We wil do that in the next step, Journal Entry Date Debit Credit Now recard t the cost of gaods sold for the sale of mercnandise on Novermber 3. ournal Entry Date Accounts Debit Credit Nov 3 November 5: Sold $300 of merchandise to the next step. r Co which pa by c edit card. The c card company ch rges Brockman ee o 3% on cre t card sales. Brock ans costof this me han se was ses no eco d the cost of goods so d en y a wew the in Journal Entry Date Accounts Debit Credit Now 5 Now recard the cost of gaods sold for the sale of mercnandise on November 5. Journal Entry Date Accounts Debit Credit Nov 5 November 10: Sold S1,800 of merchandise to Wave Rock on account. Terms were 210, net 30. Brockman's cost of this merchandise was S550. Do not record the cost of goods sold entry yet. We will do that n the next step Journal Entry Date Dobit Credit Nov 10 Now record the cost of goods sold for the sale of merchandise on November 10. Journal Entry Date Debit Credit Nov 10 November 11: Sold $1,800 of merchandise to Aberte Shoppes on account. Tems were 210, net 3D. Brockmans cost of this merchandise was $680. Do not record the coet of goods sold entry yet. We will do that in the next step Journal Entry Date Accounts Debit Credit Nov 11 Now recond the cost of gooda sold for the ale of merchandise on November 11. Jounal Entry Date Debit Credit Nov 11 November 12: Sold $92D of merchandise to Balsa Creek Inc., on account. Terms were 2/10, nel 3D. Brockman's cost of this merchandise was $3B8. Do not record the cast of goods sald entry yet. We will do that in the nexl step Journal Entry Date Accounts Debit Credit Nov 12 Now record the cost of goods sokd for the sale of merchandise on November 12 Journal Entry Date Accounte Debit Credit Nov 12 November 18: ave Rock eporod that some the merchandise re e ved was in d erent color than ordered so it re u med S1 10 he merchandise. The cos t to Brockman was $ 44. Do not record the inventory entry yet we wil do hat in the next step. the invan Journal Entry Dato Debit Credit Nov 18 Now record the inventery entry far the return of merchandise n N avember 1 a. Journal Entry Date Debit Credit Nov 18 November 20 Aberle Shoppes paid the balance of what it owed for the purchase on November 11 ournal Entry Date Accounts Debit Credit Now 20 November 22: Balsa Creek Inc, returned $320 of the merchandise for a retund. Brockman's cos: of the retumed merchandise was $128. Do not record the inventory entry ye:. We wil do that in the next step entry ye:. Journal Entry Date Accounts Debit Credit Now 22 Now record the inventory entry for the retum of merchandise on Novembar 22. Journal Entry Date Accounts Debit Credit Now 22 Novernber 22: Balsa Creek Inc., paid the remaining balance owed for the purchasen Novemzer 12. Journal Entry Date Debit Credit Nov 22 November 23: Sold S4,500 of merchandise to Cartwright Co. on account. Terms were 210, net 30. Brockman's cost of this merchandise was $1,800. Do not record the cost of goods sold entry yet. We wil do that in the next step Journal Entry Date Accounts Debit Credit Nov 23 Now record the cost of goods sold for the sale of merchandise on November 23. Journal Entry Date Accounts Debit Credit Nov 23 Navember 25: Wave Rock pai the ba ance af wha it owed for the purchase onNovenber 10. Journal Entry Date Accounts Debit Credit Nov 25 November 20: Discovered that Elmer Enterprises, a custom er owing $200 from a July transacton, declared bankruptcy and there is no chancs of collection. Wrote off the balanoa of Elmers sccount ollection. Wrote ofth I . Journal Entry Date Accounts Debit Credlt Nov 28 November 27: Sold $aDD of merchandise to Daines's One-Slop Shop en account. Terms were 2110, net 30. Brockman's oost of this merchandise was 5240. Do not record the oost af goads sold entry yet We will do that in the next step Journal Entry Date Accounts Debit Credit Nov 27 Navw record the cost of goois sald for the salr af merchardise an Naember 27 Journal Entry Accounts DebltCredit Date Nov 27 November1-30 Seles on account during the month of Novmber for transactions not listed individually totaled ST,D00. Cos: of goods soid for these sales totaled $2,B00. Do not record the cost of goocs sold entry yet. We will do that in the net step Journal Entry DebitCredit Accounts Date Nov 1-30 account dur November Naw record the cost of goods sald for sales on acoount during the month af November for transactions not lisled individually. Journal Entry Credit Debit counts Date Now 1-30 November 1-30: Credit card a es on aocount duri he month 0 November or record the rnst of goods snkd entry yet. W will do that irn the next stei a sections not listed individ al to a ed S2 100 T e cred card com a ch e Bro kman a ee of 3% oed ca sa e Cost o de sc o ese Bale t al d 80 Do not Journal Entry Date Accounts Debit Credit Now 1-30 Now record the cost of goods sold for the credit card sales on account during the month of November for transactions not isted ndividuall Journal Entry Date Accounts Debit Credit Now 1-30 Novber1-30: Cash collections on accut during the month of November for transartians nnt listed individually totakd $4,400. (No discounts wee taken by these ustamers.) Journal Entry Date Accounts Debit Credit Nov 1-30 nvem1bnr 30. ro man made hac ust ng en nns or hit min h o ac crue nr ns ma ed u ure eturns Brockman e stima es hat 3 otto a salm will be ro urned. B ockman assumns hat cnst gno s saltis 0 nt sales. First, prepare the adjusting entry for the estimated sales to be returned. Do not prepare the entry for the cost of goods sold yet. We will do this in the next stop, (Round your answer to the nearest whole dollar.) the next stop. Journal Entry Date Accounts Deblt Credlt Now 30 Now prepare the entry for the cost of goods sold. (Round your answer to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit Nov 30 November 0: rockman made an adjusting entry o ostimate unor oc ble account expenso or e mant a N ve bor whole dollar.) kman es mates s uno lest blo-accoun xpense as % total credit on ao unt sales or e month Round our ans er to en est Journal Entry Date Accounts Debit Credit Nov 30 Requirement 2. Calculate the net realizable value of sccounts recelvable as of November 30 The net realizable value of accounts receivable as of November 30 is$