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Do not do it if you dont understand it P8.4 B Piesik Company had the following transactions during June, 2022. Make the journal entries to
Do not do it if you dont understand it
P8.4 B Piesik Company had the following transactions during June, 2022. Make the journal entries to record these events assuming Piesik uses the periodic inventory system and the net price method to record purchases: Jun 3 Purchased direct materials from Holtman Company, $8,600; terms 1/10,n/30,FOB destination. 10 Purchased direct materials from Lambson Company with a price of $7,200; terms N/30, FOB shipping point. 12 Paid Holtman Company for the purchase of May 3. 13 Paid $150 freight and $60 for insurance on shipment from Lambson Co. 15 Retumed $1,000 list price of direct materials purchased from Lambson Co. because the items were damaged. 16 Purchased direct materials from Allan Company for $8,300; terms 2/10, n/60, FOB destination. 28 Paid Allan Company the amount due on the purchase of May16. P8.4 B Piesik Company had the following transactions during June, 2022. Make the journal entries to record these events assuming Piesik uses the periodic inventory system and the net price method to record purchases: Jun 3 Purchased direct materials from Holtman Company, $8,600; terms 1/10,n/30,FOB destination. 10 Purchased direct materials from Lambson Company with a price of $7,200; terms N/30, FOB shipping point. 12 Paid Holtman Company for the purchase of May 3. 13 Paid $150 freight and $60 for insurance on shipment from Lambson Co. 15 Retumed $1,000 list price of direct materials purchased from Lambson Co. because the items were damaged. 16 Purchased direct materials from Allan Company for $8,300; terms 2/10, n/60, FOB destination. 28 Paid Allan Company the amount due on the purchase of May16 Step by Step Solution
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