FOR #8 I only need the correct journal entry **(It is not Interest Expense or Payable)**

WAS NOT (INTEREST EXPENSE EITHER)

For #19 Incorrect answers of 650,951 & $129,580

00 ! Required information [The following information applies to the questions displayed below.] Part 1 of 2 -.54 oints James Company began the month of October with inventory of $25,000. The following inventory transactions occurred during the month: a. The company purchased merchandise on account for $37,000 on October 12. Terms of the purchase were 2/10, n/30. James uses the net method to record purchases. The merchandise was shipped f.o.b. shipping point and freight charges of $600 were paid in cash. b. On October 31, James paid for the merchandise purchased on October 12. c. During October merchandise costing $19,500 was sold on account for $30,000. d. It was determined that inventory on hand at the end of October cost $42,360. eBook References quired: Assuming that the James Company uses a perpetual inventory system, prepare journal entries for the above transactions. (If no mtry is required for a transaction/event, select "No journal entry required" in the first account field.) X Answer is complete but not entirely correct. No Date General Journal Debit Credit 1 October 12 Inventory Accounts payable 36,260 36,260 2 October 12 Inventory 600 Cash 600 3 October 31 Accounts payable 36,260 Interest payable o o 740 Cash 37,000 4 October 31 Accounts receivable 30,000 Sales revenue 30,000 . . 5 October 31 Cost of goods sold 19,500 Inventory 19,500 6 October 31 No journal entry required 19 Murdock Industries uses a periodic inventory system and the LIFO retail method to estimate its ending inventories. The following data has been summarized for December 31, 2021: 4.54 points Cost $115,000 326,880 Inventory, January 1 Purchases Net markups Net markdowns Net sales Retail $164,000 539,500 14,500 8,700 521,000 eBook Required: Estimate the LIFO cost of ending inventory. Assume stable retail prices during the period. (Do not round your "Cost-to-retail percentage" and round your final answer to the nearest whole number.) References Estimated ending inventory