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Drift & Co use special journals. Enter the following transactions into the journal provided. All answers are numbers which consist only of the digits 0
Drift & Co use special journals. Enter the following transactions into the journal provided. All answers are numbers which consist only of the digits 0 to 9. Symbols or punctuation marks should NOT be incorporated in answers. The only exception is dates which should be in the format dd/mm/yy 2 digits for the day, month and year (eg 01/06/13) Transaction Date Merida Inc settled their account in full 21/06/13 The only outstanding invoice was one dated 13/05/13 for $105600 terms 5/10 n30. 28/06/13 Received a total of $25300 cash for the sale of inventory Drift & Co has a gross profit margin of 60%. (COGS will therefore be $9200) Cash Receipts Journal Debit Account Sales Discounts Cash At Bank sales Revenue Date Dr COGS Credited GST Net AR GST Net Cr Inventory
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