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I need help doing the adjusting journal entries BH20 CORPORATION CASE 4-Dec Made cash sales of $3 million. For simplicity of this case, BH20 Corporation
I need help doing the adjusting journal entries BH20 CORPORATION CASE 4-Dec Made cash sales of $3 million. For simplicity of this case, BH20 Corporation uses a PERIODIC inventory system 7-Dec Purchased $2.4 million of merchandise on account, FOB shipping point, Paid $50,000 related freight-in charges 11-Dec Customers returned $600,000 of merchandise for credit to their accounts 14-Dec Collected $900,000 of accounts receivable (no cash discount) 18-DecSold land for $7.8 million; The land originally cost S5 million 20-DecMade credit sales of $4 million 21-Dec BH20 returned $300,000 of merchandise to its merchandise inventory supplier. BH20 received suppliers debit memo. 27-DecPurchased $1.25 million of merchandise for cash 28-DecPaid S1.1 million of accounts payable (no cash discount) 31-Dec ] Purchased land at a cost of S6 million; Paid $1 million down; signed a 12%, 2-year note for the balance
I need help doing the adjusting journal entries
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