o) Prepare Journal Entries for Sales and Purchases (Without Discounts) our answer is correct. Corp is a lumber yard on Angel Island 15 Sold lumber on an account to Hard Hat Construction, $500,000. The inventory subsidiary ledger shows the cost of . 19 Purchased lumber on account from LHP Company $100,000. y 10 Collected in cash the $500,000 accounts receivable from Hard Hat Construction. ay 19 Paid the $100,000 owed to LHP Company to be $120,000. The accounting records, however, Indicate inventory of $140,000 and a c goods sold of $900,000. The physical count of the inventor y was observed by the company's auditors and it is considered correct epare journal entries to record the above transactions and events in the accounting record of Rob Corp (the company uses a utomatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Apr, 15 TAccounts Receivable Credit 500000 Sales Revenue (To record sales.) Apt. 15 Cost of Goods Sold 30000 Inventory Date Account Titles and Explanation Debit Credit Apr. 15 Accounts Receivablev 500000 Sales Revenue 500000 (To record sales.) Cost of Goods Sold Inventory Apr. 15 300000 300000 (To record cost of goods sold.) Apr. 19 Inventory 100000 Accounts Payable 100000 May 10 T Cash 500000 Accounts Receivable v 500000 May 19 Accounts Payable 100000 Cash 100000 Dec. 31 Cost of Goods Sold 20000 Inventory earch 300000 Inventory (To record cost of goods sold.) 100000 Apr. 19 Inventory Accounts Payablev 100000 May 10 Cash 500000 Accounts Receivable w 500000 May 19 Accounts Payable 100000 Cash 100000 Dec. 31 Cost of Goods Sold 20000 Inventony 20000 3 Copy Co. is an office supply store. The company uses a perpetual inventory system. 1 Purchased four Doni copying machines on account from Doni Corp. Total invoice price was s3.200 per machine ($12,800 total); terms of 2/10, n/30. These machines are intended for resale Found one of the Doni copiers to be defective and returned it to Doni, thus reducing the amount owed 8 Paid the amount owed to Doni Corp. 9 Sold on account one of the Doni copiers to Cross Realty. The sales price was $6,400, terms 6/10, n/60. 19 Received full payment from Cross. ord the above transactions in the company's general journal. To conserve space, omit the written explanations which normally should accompany the entries. (Credit account s are automatically indented when the amount is entered. Do not indent manually.) Date Account Tales and Explanation Debit 3/28/2019 F3 F5 F6 F8 F9 F10 F11 F12 tScr InsertDele 5 6 8 0 Debi Credit (To record cost cost of goods sold.) (To record sales.) July 19 (To record cost cost of goods sold.) To record sales.) July 19 o) Prepare Journal Entries for Sales and Purchases (Without Discounts) our answer is correct. Corp is a lumber yard on Angel Island 15 Sold lumber on an account to Hard Hat Construction, $500,000. The inventory subsidiary ledger shows the cost of . 19 Purchased lumber on account from LHP Company $100,000. y 10 Collected in cash the $500,000 accounts receivable from Hard Hat Construction. ay 19 Paid the $100,000 owed to LHP Company to be $120,000. The accounting records, however, Indicate inventory of $140,000 and a c goods sold of $900,000. The physical count of the inventor y was observed by the company's auditors and it is considered correct epare journal entries to record the above transactions and events in the accounting record of Rob Corp (the company uses a utomatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Apr, 15 TAccounts Receivable Credit 500000 Sales Revenue (To record sales.) Apt. 15 Cost of Goods Sold 30000 Inventory Date Account Titles and Explanation Debit Credit Apr. 15 Accounts Receivablev 500000 Sales Revenue 500000 (To record sales.) Cost of Goods Sold Inventory Apr. 15 300000 300000 (To record cost of goods sold.) Apr. 19 Inventory 100000 Accounts Payable 100000 May 10 T Cash 500000 Accounts Receivable v 500000 May 19 Accounts Payable 100000 Cash 100000 Dec. 31 Cost of Goods Sold 20000 Inventory earch 300000 Inventory (To record cost of goods sold.) 100000 Apr. 19 Inventory Accounts Payablev 100000 May 10 Cash 500000 Accounts Receivable w 500000 May 19 Accounts Payable 100000 Cash 100000 Dec. 31 Cost of Goods Sold 20000 Inventony 20000 3 Copy Co. is an office supply store. The company uses a perpetual inventory system. 1 Purchased four Doni copying machines on account from Doni Corp. Total invoice price was s3.200 per machine ($12,800 total); terms of 2/10, n/30. These machines are intended for resale Found one of the Doni copiers to be defective and returned it to Doni, thus reducing the amount owed 8 Paid the amount owed to Doni Corp. 9 Sold on account one of the Doni copiers to Cross Realty. The sales price was $6,400, terms 6/10, n/60. 19 Received full payment from Cross. ord the above transactions in the company's general journal. To conserve space, omit the written explanations which normally should accompany the entries. (Credit account s are automatically indented when the amount is entered. Do not indent manually.) Date Account Tales and Explanation Debit 3/28/2019 F3 F5 F6 F8 F9 F10 F11 F12 tScr InsertDele 5 6 8 0 Debi Credit (To record cost cost of goods sold.) (To record sales.) July 19 (To record cost cost of goods sold.) To record sales.) July 19