Question
make journal entries: 1. Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($680 = $136
make journal entries:
1. Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($680 = $136 5). The tour is scheduled for May 7.
2. The fishing tour occurs. Outdoor Expo asks that payment be made within 30 days of the tour and offers a 4% discount for payment within 15 days.
3. Charlene is upset that no one caught a single fish and asks management for a discount. Outdoor Expo has a strict policy of no discounts related to number of fish caught.
4. Upon deeper investigation, management of Outdoor Expo discovers that Charlenes tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 40% of the amount due.
5. Charlene pays for the tour after deducting the sales allowance.
Required information [The following information applies to the questions displayed below.) Outdoor Expo provides guided fishing tours. The company charges $160 per person but offers a 15% discount to parties of four or more. Consider the following transactions during the month of May. May2 Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($680 = $136 * 5). The tour is scheduled for May 7. May 7 The fishing tour occurs. Outdoor Expo asks that payment be made within 30 days of the tour and offers a 48 discount for payment within 15 days. May 9 Charlene is upset that no one caught a single fish and asks management for a discount. Outdoor Expo has a strict policy of no discounts related to number of fish caught. May 15 Upon deeper investigation, management of Outdoor Expo discovers that Charlene's tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 408 of the amount due. May 20 Charlene pays for the tour after deducting the sales allowance. Required: 1. Record the necessary transaction(s) for Outdoor Expo on each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet > Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($680 = $136 * 5). The tour is scheduled for May 7. Note: Enter debits before credits Date Debit Credit General Journal No Journal Entry Required May 02 Record entry Clear entry View general JournalStep by Step Solution
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