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GIVEN INFORMATION: December 1: a new investor, made an investment in Byte by purchasing 2,700 shares of its common stock paying $72,900.00 in cash. The
GIVEN INFORMATION:
December 1: a new investor, made an investment in Byte by purchasing 2,700 shares of its common stock paying $72,900.00 in cash. The par value of the common stock was $19.00 per share. |
December 3: Byte purchased a Ricoh Color Copier for $5,300.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. |
December 3: Byte received 13 Super Toners for resale to customers at a cost of $20.00 per toner. The invoice number was 7249, and requires payment within 30 days. |
I need an answer with the following (for all listed journal entries below):
1) Transaction Name
2) Transaction Debit amount
3) Transaction Credit amount
I need help with the following journal entries: - Journal Entry #6 05. December 10: Byte sold 8 Super Toners to a customer on account for $57.00 each. The Sales order number was 12100. 06. December 10: Byte records the cost of the 8 Super Toners sold using FIFO. The sales order number was 12100. - Journal Entry #15 14. December 19: Byte sold 6 Super toners to a customer on account for $57.00 each. The sales order number was 12101. 15. December 19: Byte records the cost of the 6 Super Toners sold using FIFO. The sales order number was 12101Step by Step Solution
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