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Does anyone know how to do this Journal entry? The following information applies to the questions displayed below Outdoor Expo provides guided fishing tours. The
Does anyone know how to do this Journal entry?
The following information applies to the questions displayed below Outdoor Expo provides guided fishing tours. The company charges $210 per person but offers a 20% discount to parties of four or more. Consider the following transactions during the month of May May 2 Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price 840 - $1685. The tour is scheduled for May 7 May 7 The fishing tour occurs. Outdoor Expo asks that payment be made within 30 days of the tour and offers a 6% discount for payment within 15 days May 9 Charlene is upset that no one caught a single fish and asks management for a discount Outdoor Expe has a strict policy of no discounts related to number of fish caught May 15 Upon deeper investigation management of Outdoor Expo discovers that Charlene's tour was led by a new guide who did not take the group to some of the better fishing spot in concession management offers a sales allowance of 30% of the amount due May 20 Charlene pays for the four after deducting the sales allowance 10.00 points Required: 1. Record the necessary transaction(s) for Outdoor Expo on each date. If no entry is required for a transaction event, select "No journal entry required in the first account field. Round you answers to 2 decimal places.) 1. Record the necessary transaction(s) for Outdoor Expo on each date. (If no entry is required for a tran! answers to 2 decimal places.) View transaction list Journal entry worksheet 2 3 4 Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($840 = $168 x 5). The tour is scheduled for May 7. Note: Enter debits before credits. Date General Journal Debit Credit May 02 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 5 The fishing tour occurs. Outdoor Expo asks that payment be made within 30 days of the tour and offers a 6% discount for payment within 15 days. Note: Enter debits before credits. General Journal Debit Credit Date May 07 Record entry Clear entry View general joumal Journal entry worksheet 2 3 4 5 Charlene is upset that no one caught a single fish and asks management for a discount. Outdoor Expo has a strict policy of no discounts related to number of fish caught. Note: Enter debits before credits. General Journal Debit Credit Date May 09 Record entry Clear entry View general journal Journal entry worksheet Upon deeper investigation, management of Outdoor Expo discovers that Charlene's tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 30% of the amount due. Note: Enter debits before credits. General Journal Debit Credit Date May 15 Record entry Clear entry View general joumal Step by Step Solution
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