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Cant figure out transactions for July 10, and July 26 The following transactions took place at Fine Fashions Outlet during July 20x1. Fine Fashions Outlet
Cant figure out transactions for July 10, and July 26
The following transactions took place at Fine Fashions Outlet during July 20x1. Fine Fashions Outlet uses a perpetual inventory system. DATE TRANSACTIONS 2exi July 1 Purchased dresses for $4,810 plus a freight charge of $310 from Fashion Expo, Involce 101, dated July 1; the terms are 2/10,n/30. 5 Sold two dresses on account to Alice Chu, terms 1/10, n/39; issued Sales 511p788 for $720. The cost of the dresses sold was $460. 7 Received Credit Menorandun 210 for $610 from Fashion Expo for danaged dresses returned; the goods were purchased on Invoice 181, dated July 1. 9 Accepted a return of a dress fran Alice Chu; the dress was originally sold on Sales 511p 788 of July 5; issued Credit Menorandum 89 for $260. The cost of the returned dress was $195. 18 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, 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 3 fee on all credit card sales. The cost of merchandise sold was $8,600. 17 Purchased merchandise on account from Fashion Wholesalers for $5,100, subject to trade discounts of 40% and 16x; terms 1/10,n/30, Involce 2078 26 Paid amount oved to Fashion Mholesalers 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? 8 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below Step by Step Solution
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