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Fulhage Waste Company provides weekly trash collection services to small companies. Fulhage collected a $1,800 deposit from each of 21 new customers for large trash
Fulhage Waste Company provides weekly trash collection services to small companies. Fulhage collected a $1,800 deposit from each of 21 new customers for large trash dumpsters. The cost of each dumpster is $800. The company uses a perpetual inventory system. What journal entries are required when 17 dumpsters are returned to Fulhage? What journal entries are required if four of the dumpsters are damaged and the customer forfeits the deposit? (Assume the four damaged dumpsters were not returned. Record debits first, then credits. Exclude explanations from journal entries.) Prepare the journal entry to record the collection of the deposits from the customers. Prepare the journal entry to record the four dumpsters damaged and not returned and the deposit forfeited. Do not record the cost of sales related to the dumpsters. We will do that in the following step. Fulhage Waste Company provides weekly trash collection services to small companies. Fulhage collected a $1,800 deposit from each of 21 new customers for large trash dumpsters. The cost of each dumpster is $800. The company uses a perpetual inventory system. What journal entries are required when 17 dumpsters are returned to Fulhage? What journal entries are required if four of the dumpsters are damaged and the customer forfeits the deposit? (Assume the four damaged dumpsters were not returned. Record debits first, then credits. Exclude explanations from journal entries.) Prepare the journal entry to record the collection of the deposits from the customers. Prepare the journal entry to record the four dumpsters damaged and not returned and the deposit forfeited. Do not record the cost of sales related to the dumpsters. We will do that in the following step
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