Question
Each Responder take four transactions, in order (no skipping!). Leave a blank line between journal entries please. Visually it makes it much easier to pick
Each Responder take four transactions, in order (no skipping!). Leave a blank line between journal entries please. Visually it makes it much easier to pick apart different thoughts. July 3. Purchased merchandise on account from Hamling Co., list price $72,000, trade discount 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to the invoice. (hint: take off the trade discount first) 5 Purchased merchandise on account from Kester Co., $33,450, terms FOB destination, 2/10, n/30. 6 Sold merchandise on account to Parsley Co. $36,000, terms n/15. The cost of the merchandise sold was $25,000. 7 Returned $6,850 of merchandise purchased on July 5 from Kester Co. Date Account Debit Credit July 3 Merchandise inventory 59,976 Accounts Payable 59,976 Merchandise inventory 1450 cash 1450 July 5 Merchandise Inventory 32781 Accounts Payable 32781 July 6 Accounts Receivable 36000 Sales 36000 COst of Merchandise 25000 Merchandise Inventory 25000 July 7 Accounts Payable 6713 Merchandise Inventory 6713 13 Paid Hamling Co. on account for purchase of July 3. 15 Paid Kester Co. on account for purchase of July 5, less return of July 7. 21 Received cash on account from sale of July 6 to Parsley Co. 21 Sold merchandise on MasterCard, $108,000. The cost of the merchandise sold was $64,800. Date Account Debit Credit July 3 Accounts payable
+ 6.1 Module 6 In Class Work - X G how to screenshot on mac - X o. E = Student Home x x Grades for Bridgette Anne v * My Home X C Get Homework Help With Ch x Secure https://docs.google.com/spreadsheets/d/1 Higbou_a1C6DfNOYCIPhi3Y10WHqv7YCPbmcVfonnu/edit#gid=0 C 6.1 Module 6 In Class Work File Edit View Insert Format Data Tools Share B Add-ons Help All changes saved in Drive na 100% - $ % .0 .00 123 Arial - 10 - BI. A . ES - EI D + Y E . 1 Sales related and purchase related transactions using perpetual inventory system 13 Paid Hamling Co. on account for purchase of July 3. 15 Paid Kester Co. on account for purchase of July 5, less return of July 7. 21 Received cash on account from sale of July 6 to Parsley Co. 21 Sold merchandise on MasterCard, $108,000. The cost of the merchandise sold was $64,800. Credit Date Account July 3 Accounts payable Debit 59976 22 Sold merchandise on account to Tabor Co., S16,650, terms 2/10, n/30. The cost of the merchandise sold was $10,000. 23 Sold merchandise for cash, $91,200. The cost of the merchandise sold was $55,000. 28 Paid Parsley Co. a cash refund of $7,150 for returned merchandise from sale of July 6. The cost of the returned merchandise was $4,250. 31 Paid MasterCard service fee of $1,650. + E Problem #1 question 2 - Problem #3 - Problem #1.1 - question 2.1 question 3.1. Problem #5 - + 6.1 Module 6 In Class Work - X G how to screenshot on mac - X o. E = Student Home x x Grades for Bridgette Anne v * My Home X C Get Homework Help With Ch x Secure https://docs.google.com/spreadsheets/d/1 Higbou_a1C6DfNOYCIPhi3Y10WHqv7YCPbmcVfonnu/edit#gid=0 C 6.1 Module 6 In Class Work File Edit View Insert Format Data Tools Share B Add-ons Help All changes saved in Drive na 100% - $ % .0 .00 123 Arial - 10 - BI. A . ES - EI D + Y E . 1 Sales related and purchase related transactions using perpetual inventory system 13 Paid Hamling Co. on account for purchase of July 3. 15 Paid Kester Co. on account for purchase of July 5, less return of July 7. 21 Received cash on account from sale of July 6 to Parsley Co. 21 Sold merchandise on MasterCard, $108,000. The cost of the merchandise sold was $64,800. Credit Date Account July 3 Accounts payable Debit 59976 22 Sold merchandise on account to Tabor Co., S16,650, terms 2/10, n/30. The cost of the merchandise sold was $10,000. 23 Sold merchandise for cash, $91,200. The cost of the merchandise sold was $55,000. 28 Paid Parsley Co. a cash refund of $7,150 for returned merchandise from sale of July 6. The cost of the returned merchandise was $4,250. 31 Paid MasterCard service fee of $1,650. + E Problem #1 question 2 - Problem #3 - Problem #1.1 - question 2.1 question 3.1. Problem #5Step by Step Solution
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