Question
create journal: Jims Lawn Care has purchased flowers and shrubs for spring plantings for his clients. Record the following transactions for the purchase and sale
create journal:
Jims Lawn Care has purchased flowers and shrubs for spring plantings for his clients. Record the following transactions for the purchase and sale of the merchandise.
Purchased merchandise on account from Menne Nursery for $500, terms FOB destination, n/30.
Purchased merchandise on account from Franks Flowers for $1,000, terms FOB shipping point, 2/10,n/30. Freight of $25 was added to the invoice.
Sold merchandise on account to Mr. Adams for $700, n/15. The cost of the merchandise was $450.
Purchased merchandise on account from Franks Flowers for $850, terms FOB destination, 2/10,n/30.
Received full payment from Mr. Adams.
Sold merchandise on account to Allen Investing Group for $1,500, terms n/30. The cost of the merchandise was $1,000.
Paid Menne Nursery for the purchase in a.
Sold merchandise to cash customers for $1,250. The cost of the merchandise was $900.
Paid Franks Flowers for the purchase is b.
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