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cant figure out merchandise inventory or cash Journal entry worksheet 1 2 3 4 5 6 8 Issued Check 1255 to pay the amount due
cant figure out merchandise inventory or cash Journal entry worksheet 1 2 3 4 5 6 8 Issued Check 1255 to pay the amount due to Fashion Expo for Invoice 101, dated July 1 , less the return of July 7 and less the cash discount. Note: Enter debits before credits. The following transactions took place at Fine Fashions Outlet during July 20xi. Fine Fashions Outiet uses a perpetual inventory system. DATE TRANSACTIONS 201 July 1 Purchased dresses for $4,810 plus a freight charge of $310 fron Fashion Expo, Invoice 181, dated Ju1y 1 ; the terns are 2/10,n/30. was 546y2. 7 Received Credit Menorandum 210 for 5610 from Fashion Expo for damaged dresses returned) the goods were purchased on Involee 1e1, dated July 1. 9 Accepted a return of a dress from A11ce Chu; the dress was originally sold on 5 ales 511p 788 of July 5 ; issued Credit Menorandun 89 for $260. The cost of the returned aress was $195. 10 Issued Check 1255 to pay the anount due to Fashion Expo for Invoice. 101, dated July 1, less the return of July. 7 and less the cash discount. 15 Received payment from Alice Chu for the sale of July 5 , less the return of July 9 and less the cash discount. 15 Recorded sales on bank credit cards for the two-week period ended July 15, $12,600; the bank charges a 34 fee on al1 credit card sales. The cost of nerchandise sold was 58,600 . 17 Purchased merchandise on account fron Fashion Wholesalers for 35,100 , subject to trade atscounts of 408 and 10k; terms 1/10,n/30, Invotce 2078 . 26 Paid amount owed to Fashion wholesalers for the purchase of July 17, Check 106. Required: Record the transactions in a general journal. Analyze: What percentage of the total amount due to Fashion Expo on July 1 is due to the freight charge? Complete this question by entering your answers in the tabs below. Record the transactions in a general journal. (Round final answers to the nearest whole dollar value.)
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