Question
Information related toCheyenne Corp.is presented below. 1.On April 5, purchased merchandise on account fromBrambleCompany for $28,200, terms2/10, net/30, FOB shipping point.2.On April 6, paid freight
Information related toCheyenne Corp.is presented below.
1.On April 5, purchased merchandise on account fromBrambleCompany for $28,200, terms2/10, net/30, FOB shipping point.2.On April 6, paid freight costs of $500on merchandise purchased fromBramble.3.On April 7, purchased equipment on account for $31,000.4.On April 8, returned $3,400of merchandise toBrambleCompany.5.On April 15, paid the amount due toBrambleCompany in full.
(a)
Prepare the journal entries to record these transactions on the books ofCheyenne Corp.under a perpetual inventory system.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
No.
Date
Account Titles and Explanation
Debit
Credit
1.choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
2.choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
3.choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
4.choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
5.choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Cost Accounting Principles And Applications
Authors: Horace Brock, Linda Herrington, La Vonda Ramey
7th Edition
0071115609, 978-0071115605
