Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help please! Information related toBrambleCo. is presented below. 1. On April 5, purchased merchandise on account fromTamariskCompany for $41,700, terms2/10, net/30, FOB shipping point. 2.

image text in transcribedimage text in transcribed

Help please!

Information related toBrambleCo. is presented below.

1.On April 5, purchased merchandise on account fromTamariskCompany for $41,700, terms2/10, net/30, FOB shipping point.2.On April 6, paid freight costs of $790on merchandise purchased fromTamarisk.3.On April 7, purchased equipment on account for $27,100.4.On April 8, returned damaged merchandise toTamariskCompany and was granted a $5,700credit for returned merchandise.5.On April 15, paid the amount due toTamariskCompany in full.

image text in transcribedimage text in transcribed
co Course: ACC-120-101-SP21-Prin c x WP Chapters 5 & 6 Assignments Due X NWP Assessment Player UI Appli X + X assessment.education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=86bb51e2-9e3f-4839-9e3a-46597381f8df#/question/1 K - Chapters 5 & 6 Assignments Due March 7th Question 2 of 8 0.46 /1 Information related to Bramble Co. is presented below. 1. On April 5, purchased merchandise on account from Tamarisk Company for $41,700, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $790 on merchandise purchased from Tamarisk. 3. On April 7, purchased equipment on account for $27,100 4. On April 8, returned damaged merchandise to Tamarisk Company and was granted a $5,700 credit for returned merchandise. 5. On April 15, paid the amount due to Tamarisk Company in full. (a) - Your answer is partially correct. Prepare the journal entries to record these transactions on the books of Bramble Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Cred 1. April 5 Inventory 41,700 Accounts Payable 2. April 6 Inventory 790 Cash 3. April 7 Equipment 27.100 Accounts Payable 3:45 PM Type here to search O a 9 3/5/2021co Course: ACC-120-101-SP21-Prin c x WP Chapters 5 & 6 Assignments Due X NWP Assessment Player UI Appli X + X assessment.education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=86bb51e2-9e3f-4839-9e3a-46597381f8df#/question/1 K - Chapters 5 & 6 Assignments Due March 7th Question 2 of 8

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: John J Wild, Ken Shaw

24th edition

1259916960, 978-1259916960

More Books

Students also viewed these Accounting questions

Question

How have psychologists and others confounded sex and gender?

Answered: 1 week ago