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Can someone please help me out with the first problem and check the others to see if i Journalized correctly? June 10 Sold four Kawasaki
Can someone please help me out with the first problem and check the others to see if i Journalized correctly? June 10 Sold four Kawasaki Jet Skis to Jennifer Greenslade, for cash. The sales invoice is G6038. The four 800 SX-12 Jet Skis sell retail for $5,950.00 each and cost $4,250.00 each. Be sure to include the 7.0% sales tax. June 10 Received invoice number 67677 and issued check 30407 for $177.75 to the Nuggett Freight Company for transportation fees on our June 7 purchase from Zeaman Sprintcraft. Debit Accounts Payable $177.75 Credit Cash $177.75 June 10 Sold a Sprintcraft Jet Ski trailer to Zachary Brandon for $1,400.00 cash plus sales tax (sales invoice number G6039). Mr. Brandon paid for his purchase by using a Bank Credit Card. Debit Cash $1498.00 Credit Sales Tax Payable $98 Credit Accounts Receivable Credit Card Co. June 10 Purchased three Dolphin personal watercraft for inventory from Zeaman Sprintcraft. Purchase price for the merchandise totaled $15,150.00 and the entire amount was charged to the Granite Bay Jet Ski account. The credit terms offered from Zeaman are 1/10, n/30, the invoice number is ZM299, and the goods are shipped FOB shipping point. A separate billing for freight charges of $314 (invoice L3271) has also been received from Larson Brothers, Inc., the freight carrier for this delivery. Terms from Larson Brothers, Inc., are net 10. (Two journal entries are required.) Debit Merchandise Inventory $15,150.00 Credit Accounts payable $15,150.00 Debit Merchandise Inventory $314 Credit Accounts Payable $314
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