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can I have an explanation on 3,4,5 please? 2: (4 Points) on March 20, Krazy Kids also purchases shoes to sell in the store for
can I have an explanation on 3,4,5 please?
2: (4 Points) on March 20, Krazy Kids also purchases shoes to sell in the store for $2,000 with an additional 15% sales tax on account. What is the entry that Krazy Kids will make when they purchase the shoes from Merchandise Mart? Make sure to use the proper journal entry form we learned in Module 1 (including date, description, etc...) March and Dr Inventory 2300 Or AIP 2300 3: (4 Points) On March 20", Krazy Kids pays the amount due to the Merchandise Mart for both transactions above. What is the journal entry that Krary Kids would make to record the payment? Make sure to use the proper journal entry form we learned in Module 1 (including date, description, etc....) calao Inventory Dr Account Payable 850 C 2300 -3 4: (4 Points) On March 21, Krazy Kids purchases hats from Merchandise Mart on account. The hats cost $1,000 and are sold FOB Shipping point. The seller had already paid the shipping charges of $100. but will add it to the invoice if necessary. What is the entry that Krazy Kids will make when they purchase the hats from Merchandise Mart? Make sure to use the proper journal entry form we learned in Module 1 (including date, description, etc...) 05121 400 g DI cooh sales revene 100 4 (tocelli De shipping expense Cr cough 100 Osal COGS ar Inventory 1000 100 Step by Step Solution
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