Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Journal entry worksheet 345678 Record the cost of goods sold to Wally Butler at $1,140. Note: Enter debits before credits. Journal entry worksheet 1234567 Record

image text in transcribedimage text in transcribedimage text in transcribed

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Journal entry worksheet 345678 Record the cost of goods sold to Wally Butler at $1,140. Note: Enter debits before credits. Journal entry worksheet 1234567 Record the receipt of cash due from Otto's Ottomans for the sale made on July 16. Note: Enter debits before credits. Journal entry worksheet 45678 Record the sale of merchandise for $5,600 to Claudio's Chair Company on terms 3/10,n/30. Note: Enter debits before credits. Journal entry worksheet 1234 678 Record the sale of merchandise for $3,300 to Otto's Ottomans on terms 3/10,n/30. Note: Enter debits before credits. Journal entry worksheet 12345 78 Record the cost of goods sold to Otto's Ottomans at $2,080. Note: Enter debits before credits. The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally Butler, who paid the \$1,900 purchase with cash. The goods cost Evergreen Company \$1,149. July 15 Sold merchandise to Claudio's Chair Company at a selling price of \$5, 600 on terms 3/10, n/30. The goods cost Evergreen Company $3,926. July 16 Sold merchandise to Otto's Ottomans at a selling price of \$3,360 on terms 3/10, n/30. The goods cost Evergreen Company $2,680. July 23 Received cash from Claudio's Chair Company for the amount due from July 15. July 31 Received cash from Otto's Ottomans for the amount due from July 16. Required: Prepare Journal entrles to record the transactions, assuming Evergreen Company records discounts using the net method in a perpetual Inventory system. Forfelted discounts are recorded as Other Revenue. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar amount.) Journal entry worksheet Note: Enter debits before credits. perpetual Inventory system. Forfelted discounts are recorded as Other Revenue. (If no entry is required for a tra select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar Journal entry worksheet \begin{tabular}{lllllll}

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_2

Step: 3

blur-text-image_3

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

Essential Strategies For Financial Services Compliance

Authors: Annie Mills, Peter Haines

2nd Edition

1118906136, 978-1118906132

More Books

Students also viewed these Accounting questions