es/38929/assignments/5428065 View Policies Current Attempt in Progress 3 Blue Spruce Corp. uses a periodic inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from Swifty Ltd. for $30,300, terms 1/10, 1/30, FOB shipping point 6 The appropriate company paid freight costs of $640 on the merchandise purchased on April 3. 7 Purchased supplies on account for $5,290. 8 Returned damaged merchandise to Swifty and was given a purchase allowance of $3,700. The merchandise was repaired by Swifty and returned to inventory for future resale. 30 Paid the amount due to Swifty in full. 1. The cost of the merchandise sold on April 3 was $18,830. 2. The cost of the merchandise returned on April 8 was $2.200. 3. Swifty uses a periodic inventory system. Record the above transactions in Blue Spruce's books and in the books of Swifty. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Blue Spruce Corp Date Account Titles and Explanation Debit Credit Apr. 3 10 AM es/38929/assignments/5428065 e Record the above transactions in Blue Spruce's books and in the books of Swifty. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts.) Blue Spruce Corp. Date Account Titles and Explanation Debit Credit Apr. 3 6 7 8 30 Swifty Ltd. Date Account Titles and Explanation Debit Debit Credit urses/38929/assignments/5428065 Swifty Ltd. Date Account Titles and Explanation Apr. 3 Debit Credit 6 7 8 30 List of Accounts 9 X plus.com/courses/38929/assignments/5428065 Assume that Blue Spruce paid and Swifty received the balance due on April 12 instead of April 30. Prepare the journal entry to record this payment on Blue Spruce's books and collection on Swifty's books. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to the nearest whole dollar, eg. 5,275.) Blue Spruce Corp. Debit Credit Date Account Titles and Explanation Apr. 12 Swifty Ltd. Date Account Titles and Explanation Debit Credit Apr. 12 es/38929/assignments/5428065 View Policies Current Attempt in Progress 3 Blue Spruce Corp. uses a periodic inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from Swifty Ltd. for $30,300, terms 1/10, 1/30, FOB shipping point 6 The appropriate company paid freight costs of $640 on the merchandise purchased on April 3. 7 Purchased supplies on account for $5,290. 8 Returned damaged merchandise to Swifty and was given a purchase allowance of $3,700. The merchandise was repaired by Swifty and returned to inventory for future resale. 30 Paid the amount due to Swifty in full. 1. The cost of the merchandise sold on April 3 was $18,830. 2. The cost of the merchandise returned on April 8 was $2.200. 3. Swifty uses a periodic inventory system. Record the above transactions in Blue Spruce's books and in the books of Swifty. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Blue Spruce Corp Date Account Titles and Explanation Debit Credit Apr. 3 10 AM es/38929/assignments/5428065 e Record the above transactions in Blue Spruce's books and in the books of Swifty. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts.) Blue Spruce Corp. Date Account Titles and Explanation Debit Credit Apr. 3 6 7 8 30 Swifty Ltd. Date Account Titles and Explanation Debit Debit Credit urses/38929/assignments/5428065 Swifty Ltd. Date Account Titles and Explanation Apr. 3 Debit Credit 6 7 8 30 List of Accounts 9 X plus.com/courses/38929/assignments/5428065 Assume that Blue Spruce paid and Swifty received the balance due on April 12 instead of April 30. Prepare the journal entry to record this payment on Blue Spruce's books and collection on Swifty's books. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to the nearest whole dollar, eg. 5,275.) Blue Spruce Corp. Debit Credit Date Account Titles and Explanation Apr. 12 Swifty Ltd. Date Account Titles and Explanation Debit Credit Apr. 12
