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On September 1, The Mono Garden Shoppe has 221 plants in its inventory, which cost $11 per plant to purchase. During the month, it reports
On September 1, The Mono Garden Shoppe has 221 plants in its inventory, which cost $11 per plant to purchase. During the month, it reports only the following transactions: September 3: purchases 108 plants from Brock Lee Farms at $15 per plant, with terms 3/7, net 18 September 7: purchases 92 plants from Corey Ander Herbs & Spices at $18 per plant, with terms 4/20, net 30 September 9: returns 19 plants to Brock Lee Farms, which it accepts . . September 11: Corey Ander Herbs & Spices grants an allowance for 12 plants which died September 12: pays the correct balance to Brock Lee Farms September 24: pays the correct balance to Corey Ander Herbs & Spices QUESTIONS: Assuming the journal entries for each of these transactions were properly recorded: 1. For The Mono Garden Shoppe, make all of the required journal entries for each transaction, except for the September 12 and September 24 transactions. (2 points) 2. What is the correct amount of the check The Mono Garden Shoppe wrote to Brock Lee Farms on September 12? (2 points) 3. What is the correct amount of the check The Mono Garden Shoppe wrote to Corey Ander Herbs & Spices on September 24? (2 points) 4. Assuming it made no sales of plants during September, what is the correct balance of number of plants and total cost of plants in The Mono Garden Shoppe's inventory as of September 30? (2 points) SPECIFIC INSTRUCTIONS: Round all answers to the nearest dollar. You must show all of your work for each part of this question. If you do not show your work, you will not receive any points for this question, even if you have the correct answer. (HINT: To reduce confusion, it may be helpful for you to work on each seller one at a time, instead of working on this problem chronologically.)
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