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journal entries and T charts please thanks! 1 Acquired 100,000 from the issuance of a Note Payable 2 Purchased 80,000 inventory of N95 masks on
journal entries and T charts please thanks!
1 | Acquired 100,000 from the issuance of a Note Payable |
2 | Purchased 80,000 inventory of N95 masks on account |
3 | Received goods purchased in event 2 FOB shipping point, freight cost 1000 paid in cash |
4 | Sold inventory on account that cost 70,000 for 140,000 |
5 | Freight Cost on the goods sold in event 4 was 700. The goods were shipped FOB destination. Cash was paid |
6 | Customer in Event 4 returned 5000 worth of goods that had a cost of 2500 |
7 | Collected 100,000 cash from accounts receivable |
8 | Paid 60,000 cash on accounts payable |
9 | Paid 3,000 cash for selling expenses |
10 | Paid 4000 cash for Insurance expense |
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