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having trouble with these journal entries. a little lost on it. llege Question 1 - Chapter 5 - Assignment - Connect Assignment Saved Help Save
having trouble with these journal entries. a little lost on it.
llege Question 1 - Chapter 5 - Assignment - Connect Assignment Saved Help Save & Exit Submi Check my work Prepare General Journal entries to record the following periodic Inventory merchandising transactions of Belton Company. Use a separate account for each receivable and payable, for example, record the sale on June 1 in Accounts Receivable-Avery & Wiest. June 1 Sold merchandise to Avery Wiest for $9,500; terms 2/5, 1/15, Fos destination cost of sales 56,650). 2 Purchased $4,900 of neremd ise from Angolac Suppliers; terms 1/10, 1/20, FOB Shipping point. 4 Purchased merchandise inventory from Bastille Sales for $11,400; terms 1/15, 1/45, FOB Bastille Sales. 5 Sold merchandise to Gelgar for $11,000; terns 2/5, 1/15, FOB destination cost of sales 57,700). 6 Collected the amount owing from Avery 6 Wiest regarding the June 1 sale. 12 Paid Angolac Suppliers for the June 2 purchase. 20 Collected the amount owing from Gelgar regarding the June 5 sale. 30 Paid Bastille Sales for the June 4 purchase. View transaction lit Step by Step Solution
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