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Joumalize the following transactions for Moakley Bicycles using the periodic inventory system. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal
Joumalize the following transactions for Moakley Bicycles using the periodic inventory system. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company uses the net amount to record sales.) (Click the icon to view the transactions.) Nov. 2: Purchased $3,800 of merchandise inventory on account under terms 1/10, VEOM and FOB shipping point. Date Accounts Debit Credit Nov. 2 Nov. 6: Returned $700 of defective merchandise purchased on November 2 Accounts Debit Credit Date Nov. 5 Nov. 8: Paid freight bill of $150 on November 2 purchase. Debit Credit Date Accounts Che fram a list or enter any number in the input fields and then continue to the next question. Journalize the following transactions for Moakley Bicycles using the periodic inventory system. Explanations are not required. (Rec explanations from journal entries. Assume the company uses the net amount to record sales.) A (Click the icon to view the transactions.) Nov. 8: Paid freight bill of $150 on November 2 purchase. Date Accounts Debit Credit Nov. 8 Nov. 10: Sold merchandise inventory on account for $6,300. Payment terms were 2/15, 1/45. Date Accounts Debit Credit Nov. 10 Nov. 11: Paid amount owed on credit purchase of November 2, less the retum and the discount. Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. Journalize the following transactions for Moakley Bicycles using the periodic inventory system. Explanations are not required. explanations from journal entries. Assume the company uses the net amount to record sales.) (Click the icon to view the transactions.) Nov. 11: Paid amount owed on credit purchase of November 2, less the return and the discount. Date Accounts Debit Credit Nov. 11 Nov. 22: Received cash from November 10 customer in full settlement of their debt, less the discount. Date Accounts Debit Credit Nov. 22 Choose from any list or enter any number in the innuit fialde and i More Info credit Nov. 2 Purchased $3,800 of merchandise inventory on account under terms 1/10,n/EOM and FOB shipping point 6 Returned $700 of defective merchandise purchased on November 2. 8 Paid freight bill of $150 on November 2 purchase. 10 Sold merchandise inventory on account for $6,300. Payment terms were 2/15, n/45. 11 Paid amount owed on credit purchase of November 2, less the return and the discount. 22 Received cash from November 10 customer in full settlement of their debt, less the discount. Novem Print Done nter any number in the input fields and then continue to the next
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