On June 3, Whispering Company sold to Chester Company merchandise having a sale price of $5,600 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $93, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company.

Collapse question part

(a)

Partially correct answer. Your answer is partially correct.Try again.

Prepare journal entries on the Whispering Company books to record all the events noted above under each of the following bases.

(1) Sales and receivables are entered at gross selling price.

(2) Sales and receivables are entered at net of cash discounts.

(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 the amount is entered. Do not indent manually.)

No. Date Account Titles and Explanation Debit Credit

(1) choose a transaction dateEntry field with correct answer

June 3 enter an account titleEntry field with correct answer

enter a debit amountEntry field with correct answer

enter a credit amountEntry field with correct answer

enter an account titleEntry field with correct answer

enter a debit amountEntry field with correct answer

enter a credit amountEntry field with correct answer

June 12 enter an account titleEntry field with correct answer

enter a debit amountEntry field with incorrect answer

enter a credit amountEntry field with correct answer

enter an account titleEntry field with correct answer

enter a debit amountEntry field with incorrect answer

enter a credit amountEntry field with correct answer

enter an account titleEntry field with correct answer

enter a debit amountEntry field with correct answer

enter a credit amountEntry field with correct answer

(2) choose a transaction dateEntry field with correct answer

June 3

enter an account titleEntry field with correct answer

enter a debit amountEntry field with incorrect answer

enter a credit amountEntry field with correct answer

enter an account titleEntry field with correct answer

enter a debit amountEntry field with correct answer

enter a credit amountEntry field with incorrect answer

choose a transaction dateEntry field with correct answer

June 12

enter an account titleEntry field with correct answer

enter a debit amountEntry field with incorrect answer

enter a credit amountEntry field with correct answer

enter an account titleEntry field with correct answer

enter a debit amountEntry field with correct answer

enter a credit amountEntry field with incorrect answer