eBook Print Item Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System Instructions Chart of Accounts Journal Instructions The following were selected from among the transactions completed by Harrison Company during November of the current year: Nov. 4 5 6 8 3 Purchased merchandise on account from Moonlight Co., list price $90,000, trade discount 25%, terms FOB destination, 2/10, 1/30 Sold merchandise for cash, $36,900. The cost of the merchandise sold was $20,480. Purchased merchandise on account from Papoose Creek Co., 850,700, terms FOB shipping point, 2/10, 1/30, wth prepaid freight of $750 added to the invoice Returned $12,750 ($17,000 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co Sold merchandise on account to Quinn Co., $14,560 with terms /15. The cost of the merchandise sold was $9,510 Paid Moonlight Co. on account for purchase of November 3, less return of November 6. Sold merchandise on VISA $239, 110. The cost of the merchandise sold was $137.270. Paid Papoose Creek Co. an account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co. Sold merchand so on account to Rabel Co, 887,100, terms 1/10,n30. The cost of the merchandise sold was $32,270 Paid VISA service fee of $3.700 Pald Quinn Co a cash refund of $1,710 for damaged merchandise from sale of November 8. Quinn Co kept the merchandise 13 14 15 23 24 28 30 Creck My Work more Check My Work uses remaining Using Perpetual Inventory System Instructions Chart of Accounts Journal Instructions Chart of Accounts CHART OF ACCOUNTS Harrison Company General Ledger ASSETS REVENUE Email Instructor Save and Exit Submit Assignment for Grading inprogress=false Bock Printem Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System Instructions Chart of Accounts Journal Journal Journalize the transactions. Refer to the chart of accounts for the exact wording of the account tres. CNOW journals do not use inos tor joumal explanations. Every line on a journa page is used for debitor credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST, RET DEBAT CREDIT 1 ASSETS LIARITIES EQUITY 2 1 4 5 10 Check My Work more Check My Work uses rong Previous Next WV21 Online teact X signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress-false eBook Print Item Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System Instructions Chart of Accounts Journal Journal 13 14 16 12 18 19 20 21 21 25 14 16 21 Previous Next > Check My Work 3 ore Check My Work uses remaining Email Instructor Save and Exe Submit Assignment for Grading ook Print Item les-Related and Purchase-Related Transactions Using Perpetual Inventory System Instructions Chart of Accounts Journal Journal 17 18 19 20 21 22 28 24 23 26 21 19 51 32 Previous Next Check My Work a more Check My Work uses remaining Email instructor Save and it Submit Assynment for Grading
