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Exercise 222 Presented here are selected transactions for the Leiss Company during April. Leiss uses the perpetual inventory system. April Sold merchandise to Mann Company
Exercise 222 Presented here are selected transactions for the Leiss Company during April. Leiss uses the perpetual inventory system. April Sold merchandise to Mann Company for $4,000, terms 2/10, n/30. The merchandise sold had a cost of $2,500. 2 Purchased merchandise from Wild Corporation for $8,000, terms 1/10, n/30 4 Purchased merchandise from Ryan Company for S1.000, n/30. 10 Received payment from Mann Company for purchase of April 1 less appropriate discount. 11 Paid Wild Corporation for April 2 purchase 1 Journalize the April transactions for Leiss Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation April 1 Debit Credit To record credit sale) To record cost of good sold) 10
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