Chapter 6 - Merchandise Uper 52Futsa blackboard.com%252Fwebapps... n.com/ext/map/index.html?_con=con&external_browser -08 launchurahttps%253A Saved Help Required information The following information applies to the questions displayed below) Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa by selling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, and aromatherapy items. Nicole uses a perpetual inventory system and is starting to realize all of the work that is created when inventory is involved in a business. The following transactions were selected from among those completed by NGS in August. Aug. 2 Sold a bundle of spa services with a merchandise basket. When sold separately, the spa service part of the bundle sells for $60s and the merchandise basket normally sells for $152. Together, the bundle was sold to Val my for cash at selling price of $570 (total). Val booked a spa treatment for August 10, and she took the basket of goods with her. The goods had cost MGS $145. Rug Sold identical teas of merchandise to Cosmetics R Us on account to selling price of $650 (total); terms 1:30. The goods costos 3530. Aug Cosmetics R Us returned one of the five itens purchased on August 3, The Iten could still be sold by NS In the future and credit was given to the customer - 18 val Any used one of the three spa treatments she had purchased as part of the Bundle sold to her on August 2 Aug.20 Sold to the spa kits to Meghan wittel for 5430 cash. The goods cost NS $161. 23.22 Cosmetics R Us paid its remaining account balance in full Required: 1. Prepare journal entries for each transaction. No additional sales returns are expected. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field) arch 3 5 6 7 00 9 Homework Saved Required information Journal entry worksheet 3 4 5 6 7 8 9 10 Record the receipt of payment in full from NGS. Note: Enter debits before credits Date Aug 02 Credit General Journal Cash Sales Revenue Debit 145 145 Record entry Clear entry View general jou E a 2 3 5 6 7 00 O E D cond external browserslaunchUrl=https%253A%252F%252Futsa.blackboard.c Homework Saved Required information Journal entry worksheet 3 4 5 6 7 8 9 10 > Record the sales on account of items for $630 (total) to Cosmetics R Us on terms n/30 Note: Enter debits before credits Date Aug 03 General Journal Debit Credit Record entry Clear entry View generale ti a 3 5 6 8 9 Homework Saved Required information Journal entry worksheet 3 4 5 8 9 10 Record the cost of goods sold of $530. Note: Enter debits before credits General Journal Date Aug 03 Debit Credit Record entry Clear entry View general al ere to search O E 3 5 6 8 9 6 Homework Saved 3 Required information Journal entry worksheet 3 4 5 6 7 8 9 10 > Record the credit given to Cosmetics R Us for returning 1 item in perfect condition. Notes Enter debits before credits Date Aug 06 General Journal Debit Credit Record entry Clearen View generale 2 3 5 7 8 9 R. omework Required information Journal entry worksheet 2 3 4 5 6 7 8 9 10 Record the 1 item returned into inventory for its original cost of goods sold. Note: Enter debits before credits General Journal Debit Credit Date Aug 06 Record entry Clear enly View general journal 3 W 2 3 4 5 6 8 9 mework Saved Required information Journal entry worksheet 1 3 5 6 7 8 9 10 Record the deferred revenue. Note: Enter debits before credits General Journal Date Aug 10 Debit Credit Record entry Clear entry View general journal a Saved mork Required information Journal entry worksheet 3 4 5 6 8 9 10 Record the cash sales of $430 to Meghan Witzel. Note: Enter debits before credits General Journal Debit Date Aug 20 Credit Record entry Clear entry View general journal earch o 2 a Required information Journal entry worksheet 3 4 5 6 7 8 9 10 Record the cost of goods sold of $161. Note: Enter debits before credits. Date General Journal Debit Credit Aug 20 Record entry Clear entry View general journal o search RI a Saved ework Required information Journal entry worksheet 3 4 5 6 7 8 9 10 Record the receipt of payment in full from Cosmetics R Us. Note: Enter debits before credits. Date General Journal Debit Credit Aug 22 Record entry Clear entry View general journal to search Chapter 6 - Merchandise Uper 52Futsa blackboard.com%252Fwebapps... n.com/ext/map/index.html?_con=con&external_browser -08 launchurahttps%253A Saved Help Required information The following information applies to the questions displayed below) Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa by selling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, and aromatherapy items. Nicole uses a perpetual inventory system and is starting to realize all of the work that is created when inventory is involved in a business. The following transactions were selected from among those completed by NGS in August. Aug. 2 Sold a bundle of spa services with a merchandise basket. When sold separately, the spa service part of the bundle sells for $60s and the merchandise basket normally sells for $152. Together, the bundle was sold to Val my for cash at selling price of $570 (total). Val booked a spa treatment for August 10, and she took the basket of goods with her. The goods had cost MGS $145. Rug Sold identical teas of merchandise to Cosmetics R Us on account to selling price of $650 (total); terms 1:30. The goods costos 3530. Aug Cosmetics R Us returned one of the five itens purchased on August 3, The Iten could still be sold by NS In the future and credit was given to the customer - 18 val Any used one of the three spa treatments she had purchased as part of the Bundle sold to her on August 2 Aug.20 Sold to the spa kits to Meghan wittel for 5430 cash. The goods cost NS $161. 23.22 Cosmetics R Us paid its remaining account balance in full Required: 1. Prepare journal entries for each transaction. No additional sales returns are expected. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field) arch 3 5 6 7 00 9 Homework Saved Required information Journal entry worksheet 3 4 5 6 7 8 9 10 Record the receipt of payment in full from NGS. Note: Enter debits before credits Date Aug 02 Credit General Journal Cash Sales Revenue Debit 145 145 Record entry Clear entry View general jou E a 2 3 5 6 7 00 O E D cond external browserslaunchUrl=https%253A%252F%252Futsa.blackboard.c Homework Saved Required information Journal entry worksheet 3 4 5 6 7 8 9 10 > Record the sales on account of items for $630 (total) to Cosmetics R Us on terms n/30 Note: Enter debits before credits Date Aug 03 General Journal Debit Credit Record entry Clear entry View generale ti a 3 5 6 8 9 Homework Saved Required information Journal entry worksheet 3 4 5 8 9 10 Record the cost of goods sold of $530. Note: Enter debits before credits General Journal Date Aug 03 Debit Credit Record entry Clear entry View general al ere to search O E 3 5 6 8 9 6 Homework Saved 3 Required information Journal entry worksheet 3 4 5 6 7 8 9 10 > Record the credit given to Cosmetics R Us for returning 1 item in perfect condition. Notes Enter debits before credits Date Aug 06 General Journal Debit Credit Record entry Clearen View generale 2 3 5 7 8 9 R. omework Required information Journal entry worksheet 2 3 4 5 6 7 8 9 10 Record the 1 item returned into inventory for its original cost of goods sold. Note: Enter debits before credits General Journal Debit Credit Date Aug 06 Record entry Clear enly View general journal 3 W 2 3 4 5 6 8 9 mework Saved Required information Journal entry worksheet 1 3 5 6 7 8 9 10 Record the deferred revenue. Note: Enter debits before credits General Journal Date Aug 10 Debit Credit Record entry Clear entry View general journal a Saved mork Required information Journal entry worksheet 3 4 5 6 8 9 10 Record the cash sales of $430 to Meghan Witzel. Note: Enter debits before credits General Journal Debit Date Aug 20 Credit Record entry Clear entry View general journal earch o 2 a Required information Journal entry worksheet 3 4 5 6 7 8 9 10 Record the cost of goods sold of $161. Note: Enter debits before credits. Date General Journal Debit Credit Aug 20 Record entry Clear entry View general journal o search RI a Saved ework Required information Journal entry worksheet 3 4 5 6 7 8 9 10 Record the receipt of payment in full from Cosmetics R Us. Note: Enter debits before credits. Date General Journal Debit Credit Aug 22 Record entry Clear entry View general journal to search