LCULATOR | | PRINTER VERSION BACK NEXT Problem 8-3 some of the transactions of Oriole Company during August are listed below. Oriole uses the periodic inventory method. August 10 Purchased merchandise on account, $11,200, terms 2/10, n/30. 13 Returned part of the purchase of August 10, $1,100, and received credit on account. 15 Purchased merchandise on account, $15,300, terms 1/10, n/60. 25 Purchased merchandise on account, $19,000, terms 2/10, n/30. 28 Paid invoice of August 15 in full. -BACK RNTER VERSION NEXT Assuming that purchases are recorded at net amounts and that discounts lost are treated as financial expenses: URCES Prepare general journal entries to enter the transactions. (f no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Date Study 6K Aug. 28 OUTORI|PRNTER VERSON LCULATOR 4BACK CES Aug. 28 NEXT SHOW LIST OF ACCOUNTS LINK TO TEXT tudy Assuming that purchases are recorded at net amounts and that discounts lost are treated as financial expenses: Prepare the adjusting entry necessary on August 31 if financial statements are to be prepared at that time. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Debit Date Account Titles and Explanation Aug. 31