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During the months of January and February, Solitare Corporation sold goods to three customers. The sequence of events was as follows: Jan. 6 Sold goods
During the months of January and February, Solitare Corporation sold goods to three customers. The sequence of events was as follows: Jan. 6 Sold goods for $500 to Wizard Inc. with terms 2/10, n/30. The goods cost Solitare $155 6 Sold goods to Spyder Corp. for $250 with terms 2/10, n/30. The goods cost Solitare $145. 14 Collected cash due from Wizard Inc. Feb. 2 Collected cash due from Spyder Corp 28 Sold goods for $220 to Bridges with terms 2/10, n/45. The goods cost Solitare $115. Required Prepare journal entries to record the transactions, assuming Solitare uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Record the sales on account of $500 to Wizard Inc. on terms 2/10, n/30 1 30 2Record the cost of goods sold of $155 3 Record the sales on account of $250 to SpyderCorp on terms 2/10, n/30 Record the cost of goods sold of $145 Record the receipt of payment in full from Wizard Inc. Record the receipt of payment in full from SpyderCorp Record the sales on account of $220 to Bridges on terms 4 Credit 5 6 7 Note :-journal entry has been entered Record entry Clear entry View general journal
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