Answered step by step
Verified Expert Solution
Question
1 Approved Answer
calculate cost of the sale for august 22 Journal entry worksheet 1) 2 3 4 7 8 .. Sold 56 watches for $42,560 on account.
calculate cost of the sale for august 22 Journal entry worksheet 1) 2 3 4 7 8 .. Sold 56 watches for $42,560 on account. Record the cost of the sale. Note: Enter debits before credits. Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekepping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from Kayaking. rain, fishing, or even diving up to 100 feet won't damage them, Suzle decides to have MU watches avallable for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025 . All watches are sold for $760 each. July 17 July 31 Nugust 12 Auguet 22 September September 27 octoter 29 Novenber 20 December 4 Decenber in Purchased 89 vatches for $13,350 ( $150 per watch) on account. 5old 66 vatches for $50,160 eash. Purchased 66 watches for 510,560 (\$160'per waten) canh: Sold 56 watches for $42,560 on account. Pald for vatches purehased on July 17. hecelve cabb of 925,536 for watehes dold on depount on August 22. purchaned 145 vatehes for 824,215 (\$167 per watoh) cash. fold 126 vatehes for $95,760 eash. Durchased 126 watehes for, $22,302 (\$177 per wateh) on account. sold 66 watchen for $50,160 on aceount
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started