Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Homework: Chapter 5 Score: 469 of 10 pts 2 of 6 (4 complete) HW Score: 22 67%, 22 67 of 1 Question Het * E5-22

image text in transcribed
image text in transcribed
image text in transcribed
Homework: Chapter 5 Score: 469 of 10 pts 2 of 6 (4 complete) HW Score: 22 67%, 22 67 of 1 Question Het * E5-22 (similar to) Shop Explanations we nee d Record debitis first then credits Exclude explanations from jou Trudie's Trinkets Shop uses a perpetual inventory system Journalize the following transactions for Trudie's Trinkets entries. Assume the company records sales at the net amount Round all numbers to the nearest whole dollar) Click the icon to view the transactions) Feb 3. Purchased 53.000 of merchandise inventary on account under forms 2/10, LOM and FOB shipping point Debit Credit Feb 3 Merchandise Inventory Accounts Payable Fob 7. Returned 5500 of detective merchandise purchased on February Accounts Feb 7 Accounts Payable Merchandise Inventory Choose from any list or enter any number in the input fields and then click Check Answer 1 remaining Clear All Check Answer Homework: Chapter 5 Score: 4.69 of 10 pts E5-22 (similar to) 2016 (4 comp Trudie's Trinkets Gift Shop uses a perpetual inventory system. Journalize the following transactions for Trudie's Trinkets entries. Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) (Click the icon to view the transactions.) Date Credit Accounts Cost of Goods Sold Merchandise Inventory Debit 2,450 Feb. 10 2,450 Feb. 12. Paid amount owed on credit purchase of February 3, less the return and the discount. Date Accounts Debit Credit Feb. 12 Choose from any list or enter any number in the input fields and then click Check Answer 1 part remaining Clear All lize the following transactions for Trudie's Trinkets Gift Shop. Explanations are not required. (R all numbers to the nearest whole dollar.) Debit Credit 2.450 i More Info 3 Purchased $3,000 of merchandise inventory on account under terms 2/10, n EOM and FOB shipping point. 7 Returned $500 of defective merchandise purchased on February 3. 9 Paid freight bill of $450 on February 3 purchase. 10 Sold merchandise inventory on account for $4.900. Payment terms were 1/15, n/30. These goods cost the company $2.450. 12 Paid amount owed on credit purchase of February 3. less the return and the discount 28 Received cash from February 10 customer in full settlement of their debt Print Done

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

Step: 3

blur-text-image

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

Political Standards

Authors: Karthik Ramanna

1st Edition

022652809X, 9780226528090

More Books

Students also viewed these Accounting questions

Question

OUTCOME 2 Identify and explain the privacy rights of employees.

Answered: 1 week ago