Question
Fruit and company sells fruit in large quantities on account, uses a perpetual inventory system and a sales journal standard terms of sales are 2/10,
Fruit and company sells fruit in large quantities on account, uses a perpetual inventory system and a sales journal standard terms of sales are 2/10, n/30. Record the following transaction for the month of April 2022 in the journal provided. Total the columns for the month.
Transactions:
April 2 - Sold $300 of apples and $500 of oranges to ABC Company, cost $640.
April 5- Sold $400 0f apples, $600 of Bananas plus $700 of oranges to WMS company, cost $1445.
April 10- Sold $200 of apples plus $800 0f Bananas to XYZ company, cost $790.
April 14- Sold $350 of apples, $450 of bananas plus $300 of oranges to WMS company cost $935.
April 21- Sold $150 of apples and $750 of oranges to ABC company cost $788
April 23- Sold $600 of Bananas plus $700 of oranges to XYZ company, cost 1105.
April 28- Sold $800 of apples, $500 of bananas plus $900 0f oranges to WMS company cost $1870.
Here is the sales journal for April 2022
Date | Account Debited | Terms | Acct. Rec. Dr, Sales, Cr. | Cost of Goods Sold, Dr. Inventory, Cr |
1.Refer to the Fruit & Company ,what amount would be debited to the AR control account for the month?
2. Refer to the Fruit & company, what amount would be the XYZ company owe at month end?
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