Question
On June 10, Skysong Company purchased $7,700 of merchandise from Sheridan Company, on account, terms 3/10, n/30. Skysong pays the freight costs of $430 on
On June 10, Skysong Company purchased $7,700 of merchandise from Sheridan Company, on account, terms 3/10, n/30. Skysong pays the freight costs of $430 on June 11. Goods totaling $800 are returned to Sheridan for credit on June 12. On June 19, Skysong Company pays Sheridan Company in full, less the purchase discount. Both companies use a perpetual inventory system.
Prepare separate entries for each transaction on the books of Skysong Company. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
choose a transaction date June 10June 11June 12June 19 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | |
choose a transaction date June 10June 11June 12June 19 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | |
choose a transaction date June 10June 11June 12June 19 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | |
choose a transaction date June 10June 11June 12June 19 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount | enter a credit amount |
eTextbook and Media
List of Accounts
Prepare separate entries for each transaction for Sheridan Company. The merchandise purchased by Skysong on June 10 cost Sheridan $2,440, and the goods returned cost Sheridan $270. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date | Account Titles and Explanation | Debit | Credit | |
---|---|---|---|---|
choose a transaction date June 10June 11June 12June 19 | enter an account title to record credit sale | enter a debit amount | enter a credit amount | |
enter an account title to record credit sale | enter a debit amount | enter a credit amount | ||
(To record credit sale) | ||||
enter an account title to record cost of goods sold | enter a debit amount | enter a credit amount | ||
enter an account title to record cost of goods sold | enter a debit amount | enter a credit amount | ||
(To record cost of goods sold) | ||||
choose a transaction date June 10June 11June 12June 19 | enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount | enter a credit amount | ||
choose a transaction date June 10June 11June 12June 19 | enter an account title to record credit sale | enter a debit amount | enter a credit amount | |
enter an account title to record credit sale | enter a debit amount | enter a credit amount | ||
(To record credit sale) | ||||
enter an account title to record cost of goods returned | enter a debit amount | enter a credit amount | ||
enter an account title to record cost of goods returned | enter a debit amount | enter a credit amount | ||
(To record cost of goods returned) | ||||
| enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount | enter a credit amount | ||
enter an account title | enter a debit amount | enter a credit amount |
eTextbook and Media
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