During the months of January and February, Solitare Corporation sold goods to three customers. The sequence of
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Question:
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 $100 to Wizard Inc. with terms 2/10, n/30; goods cost Solitare $70 | ||
6 | Sold goods to SpyderCorp. for $80 with terms 2/10, n/30; goods cost Solitare $60 | |||
14 | Collected cash due from Wizard Inc. | |||
Feb. | 2 | Collected cash due from SpyderCorp | ||
28 | Sold goods for $50 to Bridges with terms 2/10, n/45; goods cost Solitare $30 |
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 Journal entry worksheet 1 2 3 4 5 6 7 8 > Record the sale of goods to Wizard Inc. Note: Enter debits before credits. General Journal Debit Credit Date Jan. 6 Record entry Clear entry View general journal View transaction list Journal entry worksheet
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