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oct1, 2018 business owner cathey parker purchased inventory Question 5 Not yet answered Pag question Challenging Question: Please make accounting Marked out of 1.00 entries
oct1, 2018 business owner cathey parker purchased inventory
Question 5 Not yet answered Pag question Challenging Question: Please make accounting Marked out of 1.00 entries for the following transactions (please also show me calculation if there is amount you need to calculate) 1. Oct1, 2018 Business owner Cathy Parker purchased $28,400 inventory for the business and paid it using his personal money 2. Oct3, 2018 Sold inventory on credit to Jeff Kennedy $16,800, cost $10,000, term: 2/10, n/30. 3. Oct4, 2018 received DHL bill for the delivery charges $150 regarding Oct1, 2018 inventory purchase, paid in cash. 4. Oct5, 2018 Jeff returned $2,000 defective inventory back to business (cost is $1,100). The return items were still in good condition. So, business stocked them back 5. Oct6, 2018 received UPS bill for the delivery charge $120 regarding Oct3, 2018 inventory sales to Jeff Kennedy, paid in cash. 6. Oct13, 2018 received Jeff's money in full. 7. Oct20, 2018 Business bought $13,000 inventory with a trade discount of 40% from JC Ltd. term: 2/5, n/30. Paragraph 1
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