Question
NewTech Medical Devices purchases merchandise for cash and on open account. In June 2019, NewTech Medical Devices engaged in the following purchasing and cash payment
NewTech Medical Devices purchases merchandise for cash and on open account. In June 2019, NewTech Medical Devices engaged in the following purchasing and cash payment activities:
DATE | TRANSACTIONS | |
2019 | ||
June | 1 | Issued Check 101 to purchase merchandise, $4,500. |
3 | Purchased merchandise for $1,700 from BioCenter Inc., Invoice 606; terms 2/10, n/30. | |
5 | Purchased merchandise for $5,850, plus a freight charge of $110, from New Concepts Corporation, Invoice 1011, terms 2/10, n/30. | |
9 | Paid amount due to BioCenter Inc. for purchase of June 3, less discount, Check 102. | |
10 | Received Credit Memorandum 227 from New Concepts Corporation for damaged merchandise totaling $150 that was returned; the goods were purchased on Invoice 1011, dated June 5. | |
11 | Purchased merchandise for $1,680 from BioCenter Inc., Invoice 612; terms 2/10, n/30. | |
14 | Paid amount due to New Concepts Corporation for Invoice 1011 of June 5, less the return of June 10 and less the cash discount, Check 103. | |
15 | Purchased merchandise with a list price of $9,200 and trade discounts of 20 percent and 15 percent from Park Research, Invoice 1029, terms n/30. | |
20 | Issued Check 104 to purchase merchandise, $3,000. | |
25 | Returned merchandise purchased on June 20 as defective, receiving a cash refund of $280. | |
30 | Purchased merchandise for $3,200, plus a freight charge of $85, from New Concepts Corporation, Invoice 1080; terms 2/10, n/30. |
|
Post the transactions in to the appropriate accounts in the general ledger and the accounts payable subsidiary ledger.
|
Post the transactions in to the appropriate accounts in the general ledger and the accounts payable subsidiary ledger.
|
What was the amount of merchandise returned to vendors by NewTech Medical Devices in June?
What was the amount of merchandise returned to vendors by NewTech Medical Devices in June?
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started